Current Pending and Home Sales in Flagstaff
MONTHLY FLAGSTAFF REAL ESTATE TRENDS
Homes Sold in the Flagstaff Area in April & Pending Homes as of 5/17/2023
Pending Home Sales
We are experiencing an increase in the number of pending home sales in the Flagstaff area. On May 17th there were 97 single-family homes pending in the Flagstaff area. That is well above the 55 pending almost two months ago. We anticipate seeing an increase in activity as we head into the traditionally busy summer months. Low inventory levels will continue to hamper sales as home buyers have few choices in all but the million-dollar and above price points.
There were a total of 147 active listings on the Northern Arizona MLS as of May 17th with only 78 of those listings below $1,000,000. Buyers are really challenged to find homes under $500,000 where there are only 8 active listings on the market.
Year over year we are well below the 181 pending homes sales in May 2021 and 125 in May of 2022. Take a look at the pending home sales chart for further comparison.
Flagstaff Home Sales for April 2023
The Flagstaff home market had 73 single-family home sales this April. That’s surprisingly not too far off the 78 sales during April 2022. Analyzing the pending sales mentioned above homes sales will continue to lag the last two previous years in the Flagstaff area. Inventory and mortgage rate levels are impacting buyer decisions.
The median sales price for April came in at $705,000 for single-family homes. There were 14 townhomes and 9 condos sold as well.
To the sellers on the fence, give us a call and let’s talk numbers and strategy. Buyers wanting to purchase a home, we are here to help.
DO NOT tackle the real estate market without a full-time, competent agent that is up to date on the current Flagstaff market. We are here to provide you with the Best service. It’s in our name. Give us a call at 928-714-0001 or email us at [email protected].
Keep an eye on our social media posts for content related to the current issues Buyers and Sellers face today.
The data reported here are based on single family homes sales in the Flagstaff Metro Area (The City of Flagstaff and immediately surrounding County areas, EXCLUDING Munds Park and Bellemont) as reported in the Multiple Listing Service (MLS) maintained by the Northern Arizona Association of REALTORS®. The data may not reflect all sales (but it surely reflects most of them).
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