Forest Highlands Flagstaff AZ - 2009 Home Sales and Market Activity
Forest Highlands is an upscale golf community located in Flagstaff, Arizona. Spread over 1,100 acres and home to two golf courses, the Canyon Course (ranked number one private course in Arizona) and the Meadow Course, Forest Highlands is a wonderful year-round community. Homes range in size from two bedroom cottages to large homes on expansive lots.
The lifestyle at Forest Highlands is hard to beat. In addition to golf, there are two clubhouses with restaurants, two pools, a tennis complex, miles of trails and paths, playgrounds, basketball and volleyball courts, stocked fishing ponds and so much more. Activities are offered throughout the year, with the bulk of activity happening in the summer months. Additionally, a kids' recreation program is offered in the summer. Winter sports enthusiasts can enjoy cross-country skiing or Forest Highlands' proximity to the Arizona Snowbowl.
Below is information on Forest Highlands homes on the market and pending sales as of January 1, 2010. Asking prices started at $499,000 for a cottage and went up to $1,900,000 for a custom home on the golf course.
| Forest Highlands, Flagstaff, AZ |
| 2009 Real Estate Performance |
| |
| Homes for Sale on 1/1/2010 | |
| - Number of Homes | 34 |
| - Average Asking Price | $954,690 |
| - Average Square Feet | 3,071 |
| - Average Asking Price per Sq. Foot | $301.28 |
| - Average Days on Market* | 268 |
| |
| Pending Sales as of 1/1/2010 | |
| - Number of Homes | 2 |
| - Average Asking Price | $1,800,000 |
| - Average Square Feet | 4,650 |
| - Average Asking Price per Sq. Foot | $375.05 |
| - Average Days on Market* | 160 |
In addition, I looked at Forest Highlands homes sales in 2009 compared to 2008. Sales were lower in 2009 than they were in 2008 and sales volume was off significantly. Only four of the twenty-one sales closed for more than $1 million in 2009. Discounts off of listing price were greater in 2009 as well, and on average, buyers got over 400 additional square feet per home for less than they would have paid the year prior.
| Forest Highlands Home Sales | 2009 | 2008 | Difference |
| - Number of Home Sales | 21 | 24 | -3 |
| - Total Sales Volume | $17,855,937 | $21,470,150 | ($3,614,213) |
| - Average Sales Price | $850,283 | $894,590 | ($44,307) |
| - Sales Price to List Price | 83% | 91% | -8% |
| - Average Square Feet | 3,309 | 2,849 | 460 |
| - Average Sales Price per Sq. Foot | $249.56 | $316.17 | ($66.61) |
| - Average Days on Market* | 179 | 224 | -45 |
| - Highest Sale Price | $1,700,000 | $1,900,000 | ($200,000) |
| - Lowest Sale Price | $502,937 | $560,000 | ($57,063) |
Overall, 2009 was a challenging year from a sales standpoint at Forest Highlands. However, downward price pressure allowed buyers to get some really good deals at a significant discount off of asking price.
View Forest Highlands Homes for Sale
View Forest Highlands Lots for Sale
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. Data from sales transactions via the Northern Arizona MLS is not included. The analysis looks at home sale activity in the golf community of Forest Highlands in Flagstaff, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson