According to information from the Northern Arizona Association of Realtors Multiple Listing Service, the median sale price for a single-family detached house in Flagstaff increased by 14%, from $259,000 last April to $295,000 this April.
That’s a mark this market hasn’t seen since April 2008. But it is still $100,000 below the median high of $395,000 in 2006.
At the same time, the number of distressed houses, foreclosures or short-sales, dropped from 15 in April 2013 to eight this April.
However, the number of homes sold stayed nearly the same. In April 2013, real estate agents sold 64 homes. This April, agents sold 68 homes.
There are currently 220 homes for sale that are listed with a price below $300,000, he said. That equates to about a five-month supply.
There are also 499 homes listed that are priced for more than $300,000, Brighton said. That’s equal to nearly a year’s supply of homes.
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