Current Pending and Home Sales in Flagstaff, AZ for August, 2023
MONTHLY FLAGSTAFF REAL ESTATE TRENDS
Homes Sold in the Flagstaff Area in July & Pending Homes as of 9/12/2023
Pending Home Sales
We have some interesting news to report for pending single family home sales. There were 137 homes pending when compiling the numbers on September 12, 2023. This is up from 107 just one month ago. As you can see from the pending home sales graph, this is the most pending homes we have seen in our market stats since December 22 of 2021. Too early to tell if this is a change in the market or just a blip.
Low inventory continues to hamper sales as buyers are limited in choices. There were a total of 179 single family homes active on the market, with 76 of those being above $1,000,000. We still have a very limited inventory under $600,000 with only 20 active homes.
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 August
While pending home sales may be on the rise, we didn’t see that in homes sold in August. There were only 76 single family homes sold in the Flagstaff area last month. This is down slightly from the 84 that were sold last August. Assuming most of the pending home sales close out in the coming months, we may see an increase in sales over the next few months. It is very common to see the majority of the pending sales close out over the following months. Keep an eye out for our quarterly newsletter, due out in October, for a breakdown in sales for the third quarter of 2023.
The median sales price for single family homes in the Flagstaff area this August came in at $776,500, which was quite a bit higher than the $664,500 during the month of August in 2022.
There were 16 townhomes sold last month and 7 condos.
If you have any questions about the Flagstaff market, give us a call. We would love to go over the market and all your buying and selling needs.
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