4th Quarter Sales Report
For Flagstaff in 2023
Total Sales for Q4 2023
Sales remained relatively flat for the final quarter of 2023, with 157 single-family homes sold in the Flagstaff area. This was just above the 154 one year ago but well off the 287 sold in Q4 of 2021. Townhomes sales dipped this quarter, but there were noticeable increases in condo and manufactured home sales. The completion of many new-build condo units helped to add some much-needed inventory into our market. We should continue to see an increase in closed condo units throughout 2024 as the builders complete more units throughout several developments in the city.
Median Sales Price in Flagstaff in Q4 2023
The median sales price in Q4 was up year over year from the last two years but down slightly from Q3 of 2023. The median price was $723,075 for single-family homes in the Flagstaff area. There was a pretty large jump in the median price for townhomes and condos when comparing numbers from the last two years. While prices rose in all types of homes this quarter, manufactured homes and single-family homes were more modest in their increases. While the quarterly numbers are something we keep tabs on, we feel the yearly figures give us more data for trends and market changes.
Average Price per Square Foot for Flagstaff Homes in Q4 2023
The most notable change for the price per square foot was definitely in the condo sales for the quarter. Once again, the new-build sales had a big impact on the price per square foot, coming in at $515.48 for the quarter for condos. We did see increases across the board in all segments as well.
Average Sales Price for Flagstaff Homes in Q4 2023
In Q3, we reported the average sales price for single-family homes broke the $1,000,000 mark. For Q4 of 2023, the average sales price dropped down to $896,473. Following all other data for the quarter, the average sales prices rose in all types of housing as well.
WRAP-UP
We are constantly looking at the current market trends and are happy to discuss them with you anytime. Helping our clients buy or sell real estate is all we do. And we’re damn good at it too.