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Flagstaff House Sales Continue Up, Median Prices Down |
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Written by Steve Brighton
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Wednesday, 14 July 2010 00:00 |
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Sales of single family residences, aka houses, continued to improve for the month of June. There were a total of 82 house sales in the greater Flagstaff area according to our local Multiple Listing Service. This compares to 75 sales in June of 09 and 77 sales in June of 08. For the 2nd quarter sales were up also, 189 versus 172 a 10% increase. This brings the total sales figure for the 1st half of 2010 to 319 versus 275 for the same period of 09 which is an increase of 16%. The median sales price for a house in June was $296,450. This is a drop of 12% from June of 09 when the median sales price was $335,000. For the 2nd quarter the median sales price was $289,900 vs. $317,050 down 9%. And for the 1st half of 2010 the median sales price was $290,000 vs. $320,000 in 09 a decline of 9% as well. A few observations; 1) Foreclosures and short-sales made up almost 40% of total sales for the 1st half of 2010 2) These “distressed sales” sold for about a 20% discount to the “non-distressed” sales. 3) In June there were 12 short-sales that closed. This is the highest monthly figure of the year. The lenders are attempting to streamline the short-sale process. However the average days on the market for these short-sales were over 7 months still a long time. 4) Inventory of “houses for-sale” is currently at about a 15 month level. 5) Mortgage rates have hit an all time low. If you have good credit and 20% down you can get a 4.375% mortgage with no points! |
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Great Opportunity in Bellemont |
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Wednesday, 10 February 2010 00:00 |
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 WOW! Gorgeous custom home in beautiful Flagstaff Meadows just minutes from downtown! The pride of ownership is phenomenal in this fabulous five bedroom, single level, that features outstanding views of the lake and park, surrounding forest, and the San Francisco Peaks. The builder spared no expense in the selection of custom granite, cabinetry, tile, and stainless appliances. The kitchen/great room combination is terrific and perfect for entertaining family and friends. The formal dining is impressive and ideal for holiday get togethers. You'll love the lakefront paver patio and rear yard - both large and beautifully landscaped with lush vegetation and complimented by mesmerizing views. Additional features include a luxurious master suite, large laundry room, and three car garage. An impressive home that you will definitely appreciate!
Click here for listing detail |
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Wednesday, 10 February 2010 00:00 |
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 Super four bedroom in the heart of Continental just a short walk to Aspen Valley Golf Club. The location is outstanding - close to Knoles Elementary, Northland Prep Academy, Sinagua High School, Foxglenn Park, and the Flagstaff Aquaplex. A social membership to Continental Country Club offers many amenities including, golf, tennis, swimming, a fitness center, and a terrific activity center for kids. This well cared for home includes a gorgeous great room with tongue and groove ceilings, spacious bedrooms, formal dining room, bonus room ideal for home office, all on an extra large lot with beautiful views of Mount Elden. An opportunity worth pursuing!!
Click here for listing detail |
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Awesome Mountain Oaks Townhome |
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Saturday, 06 February 2010 00:00 |
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 Gorgeous three bedroom in absolute mint condition located in Mountain Oaks, quite possibly Flagstaff's premier townhouse community. The pride of ownership is outstanding throughout in this spacious end unit that's close to Continental Country Club, Aspen Valley Golf Club, and Flagstaff's numerous amenities. Open, bright floorplan with vaulted ceilings and southern exposure allowing for an abundance of natural light. You'll appreciate the hardwood floors, granite counters, large bedrooms and love the main floor master suite with views of the mountains and forest. The extra large exterior deck is perfect for entertaining and relaxation! All appliances included! This is a terrific opportunity - come take a look! Click here for listing detail
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2009 Flagstaff Housing Sales Up! |
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Written by Steve Brighton
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Thursday, 14 January 2010 00:00 |
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Flagstaff housing sales ended the year on a very positive note. December sales were up 58% over December 08 and for the 4th quarter were up 69% versus the same period. For calendar year 2009, total housing sales came in at 728 versus 670 in 2008 a 9% increase. The annual sales high was in 2005 when 1207 houses changed hands. The sales increase can be attributed to 3 factors. First and foremost is the first-time homebuyer tax credit of $8,000 which has now been extended into 2010. Second is the fact that mortgage rates hit their lowest levels ever in 09 and still remain very close to those levels. And 3rd is that the median sales price for a house in Flagstaff came down 10% in 2009 to $309,950. This median sales price is down 18% from the top of the market in calendar year 2006. Distressed sales, which include foreclosures, short sales and corporate relocations, are continuing to play a big part in the overall mix. For the later part of 09 they were averaging between 25 to 30% of total sales and in December accounted for over 38% of total sales. |
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