Current Pending and Home Sales in Flagstaff
MONTHLY FLAGSTAFF REAL ESTATE TRENDS
Homes Sold in the Flagstaff Area in January & Pending Homes as of 2/15/2023
Pending Home Sales
There is a slight increase in pending home sales in the Flagstaff area over the last two months. When running the reports on February 15th there were 58 pending single-family homes. This is up from the 50 we reported on December 10, 2022, and 51 on January 10th as reported in our quarterly newsletter.
Looking at the graph, you can see pending home sales are still well below the numbers we saw from March 2020 through September of 2022. The lack of inventory continues to put a damper on home sales. There were only 93 active single-family homes in the Flagstaff area on February 15th with 46 of those being over the $1,000,000 price. Buyers looking under $600,000 will see very limited opportunities right now. There are 20 homes priced at $600,000 or below. Many buyers are still facing challenges with bidding wars on many new listings although not as extreme as in the first half of 2022. If you are a seller on the fence about listing now or waiting, take a look at these numbers and give us a call or send us an email.
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).
Flagstaff Home Sales for January
Sales volume was very slow to start the year off with only 23 homes sold in the Flagstaff area in January. This was well below the 60 homes sold in January of 2022. The median sales price for single-family homes was $750,000 in January.
We anticipate an increase in listings and hope this turns into more sales. We should see more of the pending home sales close out and an increase in inventory heading into our seasonally busy spring and summer months. Capstone Builders just recently provided buyers with the first opportunity in the Juniper Point development. They released the first five properties with a starting price of $909,900. We are eagerly waiting to see Capstone release more lost in the coming months.
For the month of January, there were 7 townhomes and 5 condos sold. See the chart for a breakdown of homes sold by price point in the Flagstaff area. As you know we would love to talk to you about buying or selling in the Flagstaff area.
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].
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