FLAGSTAFF MARKET SNAP SHOT FEBRUARY 2009*
February reflected the first real decline that I've seen in sometime. As you will note, January reflected an increase while February showed a sharp decline. Again, for my part, I believe that it's too early in the year to forecast the trend. Only more time will tell unless you are a diehard believer in the media. Take care and keep the comments coming. Thanks for reading.
|
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 |
*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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