How Do They Compare to Flagstaff Home Sales?

National home sales statistics for July were released today – nearly a complete month after the fact. I’m able to report the Flagstaff home sales statistics much faster, of course. On August 3, I wrote that “Overall, the Flagstaff market held steady in July. . . .” and that this steadiness in the volume of Flagstaff real estate market sales was achieved by a drop in Flagstaff real estate prices. Now that national statistics are available (when we are less than a week away from looking at results for August in the Flagstaff market!), we can compare Flagstaff to the rest of the country.  

According to the National Association of Realtors^® , the western region of the country experienced a very slight increase in home sales volume during July – 1.8%. (To me, that’s “steady”.)  Nationally, home sales volume for July declined just .2% as compared to June -- almost nothing. Likewise, in Flagstaff, home sales held steady in July - 133 homes in the greater Flagstaff area were sold in July, almost exactly the same as in June, when 136 homes sold, according to statistics of the Northern Arizona Association of Realtors^®, as complied by me earlier this month. A quick look at August statistics show that August is likely to have at least 150 Flagstaff home sales this month.

Nationally, the median home price in July was $228,900, which is down 0.6% from the $230,200 home price in a year earlier. The national median home price in June this year was $229,200. In Flagstaff, we’re so different! The Flagstaff median home sales price in June was $399,000. In July, the median home sales price was $365,000.

Watch this space over the next week for a report on how Flagstaff home sales are doing in August.