OCTOBER 2013 FOREST HIGHLANDS MARKET SNAPSHOT

OCTOBER 2013 FOREST HIGHLANDS MARKET SNAPSHOT

It’s been awhile since I have done a market report on the various Flagstaff Arizona golf communities thus I wanted to start with a Forest Highlands update for October 2013 versus the same period in 2012 and a year to date comparison. A quick look at the statistics reveals the following:
October 2013 number of listings sold was down 75% versus October 2012.
October 2013 dollar volume of sold listings was down 78.2% versus October 2012
October 2013 median sales price was down 10.6% to $804,900 versus $900,000 for 2012

Year to date numbers reflect the following:

Number of sold listings is up by 35% over 2012
Dollar volume of sold listings is up by 35.5%
Median sales price is up by 4.6% to $732,500 versus $700,000 for 2012.

In sum, the market hasn’t changed much for 2013 versus 2012. This has not been a good year for higher end real estate in Flagstaff. With that said, I do fully expect 2014 to be a much improved year for higher end properties not only in Forest Highlands but Flagstaff as well. My reasoning is because the economy is firming, interest rates are exceptional, the stock market has done very well, and consumer confidence is moving upwards. In addition, the fed has indicated that it will keep buying bonds for the foreseeable future. All in all, 2014 will be a good year for the upper end. As always, thanks for reading. Please keep me in mind for your real estate needs as me, my wife Debbie and my real estate team would appreciate the opportunity to be of service. To read the full detailed report, click the following link: http://www.greggmunson.com/Doc.aspx?f=1567117&t=Forest-Highlands-Updatepdf

Cheers
Gregg Munson
Associate Broker