Current Pending and Home Sales in Flagstaff
MONTHLY FLAGSTAFF REAL ESTATE TRENDS
Homes Sold in the Flagstaff Area in February & Pending Homes as of 6/13/2023
Pending Home Sales
The Flagstaff market has seen an upward trend in pending home sales for the last two months. There were 127 single family homes under contract in the Flagstaff area when compiling stats on June 13th well above the 97 pending homes one month ago. We are also slightly ahead of the 118 pending homes reported one year ago on June 14, 2022. Last June we were starting to see interest rates starting to climb and had reported a change in the market. Fast forward one year, we are still well below the historical highs of the summer months in 2020 and 2021 and rates remain high.
Inventory remains an issue with a very low number of active homes on the market. There were 158 active listings on June 13th with 63 priced at $1,000,000 or above.
We continue to monitor the pending home sales as an indication of the future sold properties. Take a look at the chart for a historical perspective of the Flagstaff market.
Flagstaff Home Sales for May 2023
There were 62 single family homes sold in the Flagstaff area during the month of May. Looking at the pending sales, we anticipate seeing more homes sold in June and trending the same in July. We are currently into our seasonally busy time of year, and although we do not have the inventory levels we would like to see, we should see an increase in volume throughout the summer months.
There has been some exciting news in the condo market as Miramonte closed out on several units last month in their Ponderosa Parkway development. There were 34 condos sold in Flagstaff last month. There were only 6 townhomes sold in May.
The median sales price for single family homes sold in Flagstaff in May was $739,000, down slightly from the $765,000 for May 2022.
Numbers are one thing; knowing the market inside and out is another. Give us a call, and let us answer any Flagstaff real estate questions.
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).
Be the first to know about new listings!
Flagstaff’s and northern Arizona’s house market moves fast, so it’s important to stay up-to-date as new homes and land listings come on the market. Receive custom alerts so you don’t miss your dream home!