FLAGSTAFF MARKET SNAPSHOT APRIL 2009*
Flagstaff Real Estate reflected an additional decline in value from March through April however, volume increased significantly. Locally, we are seeing an influx of buyers who are looking for those great buys. The strongest segment of the market is in the $300K and less range, however, the mid and upper range seems to be gaining momentum. The next two months should give us the trend for the rest of the year. It will be interesting to see what the market does. Thanks for reading and keep the comments coming and visit Gregg's Blog for regular market info and updates.
Gregg Munson
Associate Broker, ABR, CPDE, e~PRO
|
CALENDAR YEAR |
AVERAGE PRICE |
MEDIAN PRICE |
AVERAGE DAYS ON MARKET |
ANNUAL UNITS SOLD |
CUMULATIVE MEDIAN % CHANGE FROM MARKET TOP |
|
2006 |
$458,116 |
$392,500 |
91 |
528 |
MARKET TOP |
|
2007 |
$436,511 |
$375,000 |
108 |
479 |
-4.4% |
|
2008 |
$417,993 |
$360,000 |
120 |
373 |
-8.28% |
|
January 2009 |
$433,500 |
$387,500 |
117 |
14 YTD |
-1.27% |
|
February 2009 |
$367,497 |
$330,950 |
132 |
32 YTD |
-15.68% |
|
March 2009 |
$384,884 |
$330,500 |
103 |
56 YTD |
-15.79% |
|
April 2009 |
$360,456 |
$326,000 |
127 |
79 YTD |
-16.94% |
*Criteria: Northern Arizona Multiple Listing Service sold data for City of Flagstaff single family homes. The city is defined as North West City, South West City, North East City, and South East City. Condos, townhomes, multi-family, land and commercial properties are excluded as are outlying areas. The exclusion of outlying areas and well as properties other than single family homes will have an effect on valuations.
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