Our local Flagstaff Real Estate market, again, remains pretty much the same; i.e. relatively boring. For November, the average home price is up for the third month in a row and the median price is up for November. Many would comment that our market has held up well compared to other areas of the country. Let's hope this trend continues. Stay tuned for my new market updates which, by request, will include areas outside of the city of Flagstaff. These areas such as Doney Park, Munds Park, Bellemont and others have not fared as well with declines averaging 20%-25% from the market top. Thanks for reading and please keep the comments coming.
Happy Holidays
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 IN 2006 |
|
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% |
|
May 2009 |
$370,072 |
$330,000 |
129 |
115 YTD |
-15.92% |
|
June 2009 |
$364,568 |
$331,000 |
133 |
161 YTD |
-15.66% |
|
July 2009 |
$371,298 |
$331,000 |
134 |
207 YTD |
-15.66% |
|
August 2009 |
$374,543 |
$330,000 |
140 |
250 YTD |
-15.92% |
|
September 2009 |
$374,004 |
$330,000 |
136 |
290 YTD |
-15.92% |
|
October 2009 |
$372,266 |
$330,000 |
104 |
329 YTD |
-15.92% |
|
November 2009 |
$372,679 |
$331,000 |
137 |
371 YTD |
-15.66% |
*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 values.
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