Of the 138 homes sold in June, only 31 were sold for less than $ 400,000.
When it comes to the number of homes sold in June, 138 is also a staggering number, Holloway said.
In June 2019, only 93 houses were sold in June. Holloway said much of the reason the property market is now booming is due to much lower sales earlier in the year.
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The winter and spring months in Flagstaff are notoriously bad for home sales each year anyway, Holloway said. Most people just don't want to buy and move into a new home when it's cold and snowy, and most people avoid dragging their children out of school in the middle of the semester.
However, this year the real estate market was even slower than normal due to the pandemic.
"There was a dramatic drop in about April and March when we had the shutdown," said Holloway. "People didn't want to go into other people's houses and people didn't want to list their houses because they didn't want [strangers] in their homes. So it went both ways."
As a result, many of those in the market held back until the home orders ended and they felt more secure.
"Really, I think there was so much catching up to do when we first turned off that it all came out when the world opened up again," said Holloway. "Now it's just gangbusters."