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December Flagstaff Real Estate Market Review

Well, now we have 2009 behind us. As I review the statistics for 09, it seems to me that the market was pretty much flat-at least as it pertains to single family homes in the city of Flagstaff. Will there be more downside to the market? In truth, no one really knows for sure. Time will tell. But this much I can say, if you had purchased in Flagstaff during 2009, you would have gotten a pretty darn good buy. If I were to make a bet regarding where the market goes from here, I would be willing to wager that the 2009 buyers got the best deals and that 2010 prices will edge up somewhat. It will be interesting to see. Thanks for reading. Your comments/criticisms are always welcome. May 2010 provide you and yours with great prosperity and happiness.

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%
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%
December 2009	$371,119	$330,000	135	403	-15.92%

*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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