Current Pending and Home Sales in Flagstaff
MONTHLY FLAGSTAFF REAL ESTATE TRENDS
Homes Sold in the Flagstaff Area in February & Pending Homes as of 03/15/2024
Pending Home Sales
We have seen an upward trend in pending home sales every time we have compiled the numbers since November 16, 2023. While the numbers are not dramatic in nature, it does appear to be a positive change. There were 106 single-family homes pending in the Flagstaff area market on March 15.
Looking at the chart you can see that is 48 more than the reported amount last February and only 3 off the 109 in February of 2022. This could be an indication of an increase in homes sold throughout 2024. While it is doubtful we will see the numbers of 2021 and 2022, we do anticipate a healthy spring and summer selling season.
We are seeing fluctuation in mortgage rates but we are seeing rates come down as well. Hopefully, this will provide relief to Buyers. Lack of inventory still has a major impact on prices in our housing market.
For any sellers on this fence, NOW IS A GOOD TIME TO SELL!
Flagstaff Home Sales for February 2024
More encouraging news is the sharp increase in homes sold in February. The Flagstaff area experienced 51 single-family homes change ownership during the month. This ALMOST doubled the 26 sold in January of this year. The increase in pending home sales should convert to more sales over the next couple of months, and we anticipate seeing sales increase. Our busy season is just around the corner. The median sales price for single-family homes came in at $703,657 in February. Condos and townhome sales remain relatively low. There were 6 townhome sales and 7 condo sales in February. Give us a call and let’s chat about the Flagstaff market. Whether buying or selling, we have got you covered.
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 who 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].
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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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