Hi All: It's been awhile since I have done a market update so here's the latest. Generally speaking, the first few months of the year don't tell much so it's probably best that I do a quarterly report at least in the early months. Well, as you can see, so far this year it looks like were down from 2009. I have noticed that volume is up substantially compared to the first quarter of 2009, but nonetheless, prices are down so far. Perhaps this trend will continue or perhaps the downturn is due in part to the harsh winter Flagstaff has had. Time will tell. Thanks for reading. I will return to doing updates on a more frequent basis. As always, keep the comments coming.
Warm Regards
Gregg Munson
Associate Broker, ABR, CPDE, e~PRO, SFR
|
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% |
|
2009 |
$369,275 |
$325,000 |
136 |
479 |
-17.19% |
|
1st Quarter 2010 |
$356,578 |
$300,000 |
145 |
74 |
-23.56% |
*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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