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APRIL 2009 FLAGSTAFF REAL ESTATE MARKET SNAPSHOT

 

 
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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Russ Lyon | Sotheby's International Realty Flagstaff
2076 S Woodlands Village Blvd. Ste 101 • Flagstaff, AZ 86001
Phone: 928.853.4289 • Office: 928.679.2123
Fax: 888.241.6446


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