Current Pending and Home Sales in Flagstaff
MONTHLY FLAGSTAFF REAL ESTATE TRENDS
Homes Sold in the Flagstaff Area in October & Pending Homes as of 11/16/2023
Pending Home Sales
Two months ago, we reported 137 pending single-family homes in the Flagstaff market. We were not sure if it was a blip in the market or perhaps an upward trend in our market. Looking at the 86 pending homes on November 16th, it appears to have been a blip. Seasonally we see a drop in pending sales as we head into the holiday/winter seasons. Looking at the history, we can see we are up just over 12% from last November (76) but well off the 172 pending sales in November ‘21 and the impressive 214 reported in November ‘20.
Low inventory continues to hamper potential sales, and there is no evidence to see a change in the coming months. We are pleased to see a small decline in the mortgage rates and are encouraged this may show favorable for the market moving forward.
Flagstaff Home Sales for October 2023
We had 61 single family homes trade ownership in the Flagstaff area in October. Up just over 10% from the 55 sold in October of 2022. Inventory levels have not really normalized, and we are still experiencing an inventory crunch with homes under $700,000. We don’t expect much change over the next couple of months.
The median sales price for single family homes sold in October was $690,000. That is below the $748,000 for October 2022.
There were 11 townhomes sold in October and 25 condos, with 20 of the condos being sold in Miramonte’s new development on Butler Ave.
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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