March 23, 2010 Flagstaff, AZ Real Estate News

The latest NAR real estate report shows February sales of single family homes in the West priced between $500,000 and $750,000 rose 25% over sales of same on year ago. That's good news for Flagstaff AZ home sellers with homes in that price range.

The bad news is that February sales of Western homes priced between $250,000 and 500,000 were off by 1.4%. The real estate figures come from the National Association of Realtors® monthly report. The National Association of Realtors® (NAR) reports monthly comparisons of existing single family home sales and median prices.

Flagstaff median home sales price was $335,000 in February, compared to the median price in the West which was $207,900.

Lawrence Yun, NAR chief economist, said widespread winter storms in February may mask underlying demand. "Some closings were simply postponed by winter storms, but buyers couldn't get out to look at homes in some areas and that should negatively impact near-term contract activity," he said.



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