231991 Resource 178435 178982 1 1242079402701 1265313001966 Controlled Monthly Flagstaff Home Sales Report

April Flagstaff home sales numbers are in and they show the dramatic drop in the market continued -- except in one segment

April numbers for the Flagstaff real estate market show that prices have dropped significantly, yet sales volume remains low. The one category of Flagstaff housing where buyers are experiencing a squeeze is for single-family-homes under $300,000, where sales have been so fast that we’re down to under 6-months’ supply of homes on the market. First-time homebuyers have been out in force looking to take advantage of low interest rates, lower Flagstaff home prices, and the $8000 first-time-homebuyer tax credit. Here’s the April picture of Flagstaff home sales: <table cellspacing="0" cellpadding="0" border="1" style="border-top-width: medium; border-right-width: medium; border-bottom-width: medium; border-left-width: medium; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; border-collapse: collapse; "> <tbody> <tr> <td width="97" valign="top" style="border-top-width: 1pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: 1pt; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-top-color: black; border-right-color: black; border-bottom-color: black; border-left-color: black; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 72.9pt; "> Single Family Homes </td> <td width="90" style="border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: black; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: 1pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 67.5pt; "> Median Price </td> <td width="102" style="border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: black; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: 1pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 76.5pt; "> Average Price </td> <td width="108" style="border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: black; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: 1pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 81pt; "> Homes Sold </td> <td width="111" style="border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: black; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: 1pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 83.25pt; "> Median Price Change </td> <td width="130" style="border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: black; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: 1pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 97.65pt; "> Volume Change </td> </tr> <tr> <td width="97" valign="top" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: black; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: 1pt; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 72.9pt; "> April 2006 </td> <td width="90" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 67.5pt; "> $395,000 </td> <td width="102" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 76.5pt; "> $435,105  </td> <td width="108" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 81pt; "> 63 </td> <td width="111" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 83.25pt; "> </td> <td width="130" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 97.65pt; "> </td> </tr> <tr> <td width="97" valign="top" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: black; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: 1pt; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 72.9pt; "> April 2007 </td> <td width="90" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 67.5pt; "> $370,000 </td> <td width="102" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 76.5pt; "> $471,047  </td> <td width="108" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 81pt; "> 49 </td> <td width="111" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 83.25pt; "> -6.3% </td> <td width="130" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 97.65pt; "> -22% </td> </tr> <tr> <td width="97" valign="top" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: black; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: 1pt; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 72.9pt; "> April 2008 </td> <td width="90" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 67.5pt; "> $322,500 </td> <td width="102" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 76.5pt; "> $405,877 </td> <td width="108" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 81pt; "> 42 </td> <td width="111" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 83.25pt; "> -13% </td> <td width="130" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 97.65pt; "> -14.3% </td> </tr> <tr> <td width="97" valign="top" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: black; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: 1pt; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 72.9pt; "> April 2009 </td> <td width="90" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 67.5pt; "> $277,500 </td> <td width="102" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 76.5pt; "> $316,735 </td> <td width="108" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 81pt; "> 34 </td> <td width="111" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 83.25pt; "> -14% </td> <td width="130" style="border-top-style: none; border-right-style: solid; border-bottom-style: solid; border-left-style: none; border-top-color: #f0f0f0; border-right-color: black; border-bottom-color: black; border-left-color: #f0f0f0; border-top-width: medium; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: medium; padding-top: 0in; padding-right: 5.4pt; padding-bottom: 0in; padding-left: 5.4pt; background-color: transparent; width: 97.65pt; "> -19% </td> </tr> </tbody> </table> Of the 34 Flagstaff homes sold, five were bank-owned and 4 were short sales, meaning that over 26% of sales were of distressed properties. To add to this depressing picture for sellers, as of May 3, there were 20-months’ worth of homes for sale at the pace of sales the Flagstaff real estate market hit in April. This is up from 14-months’ worth at the beginning of April because many homes were newly listed during the month. The only note of encouragement for sellers is that the number of sales may have been artificially depressed in April because lenders are extending closing times because it takes longer to process loans than it used to and refinancing transactions are overwhelming the lenders and appraisers. Thus, some closings that might have taken place in April will show up in May. So far, we’re ahead by a couple of closings compared to the first 11 days of April. Time will tell. The key to selling your home in this market is pricing it right. The numbers discussed here are for single-family, “stick-built” homes in the greater Flagstaff area – meaning inside and outside the city limits, any home with a Flagstaff mailing address. The figures represent sales as reported in the multiple-listing-service of the Northern Arizona Association of Realtors® and may not reflect all sales in the area. Look for an update on condominium and townhome sales coming soon. To buy or sell any Flagstaff home, please contact <a target="_blank" href="/click/~Flagstaff%2520Real%2520Estate%2520and%2520Comm.../bestflagstaffhomes.com/" title="Flagstaff real estate agents">Team Heitland at RE/MAX Peak Properties</a>. 10 application/xml false Flagstaff condominiums Flagstaff home prices Flagstaff home sales Flagstaff multiple-listing-service Flagstaff real estate market Flagstaff Realtors Flagstaff single family homes Flagstaff townhomes single-family-homes in Flagstaff Mozilla/5.0 (Windows; U; Windows NT 5.1; en-US) AppleWebKit/532.5 (KHTML, like Gecko) Chrome/4.0.249.78 Safari/532.5 127.0.0.1 127.0.0.1 $Admin 173.160.40.189 false true false false true 178975 false false true false false false true 232216 Resource 178975 173239 178982 1242368499181 1242400955363 Controlled RE: Monthly Flagstaff Home Sales Report

Single-family-homes under $300,000: wow that price level is pretty high and a squeeze! Interesting numbers. 10 application/xml false Mozilla/5.0 (Windows; U; Windows NT 5.1; en-US) AppleWebKit/525.19 (KHTML, like Gecko) Chrome/1.0.154.65 Safari/525.19 127.0.0.1 127.0.0.1 173.129.60.38 false true false false true 178435 blog blogsite/BestFlagstaffHomes/web