There are currently 152 single family homes pending in the Flagstaff market, down from the 214 pending as of November 20th. Many homes closed out during the last month of the year as 2020 became the strongest year in history for sales volume in Flagstaff. Keep an eye out for our upcoming newsletter for more details and our predictions for 2021in the Flagstaff and National markets.
The limited inventory levels of available homes continue to drive prices up as buyers have few choices when purchasing. Add to this an increasing number of buyers looking for any opportunities to purchase and the laws of supply and demand are prevalent. We typically see a seasonally adjusted low number of listings during this time of year as many sellers hold off on listing until the spring and summer months.
Flagstaff Home Sales for December
Even with the low inventory sales were still up compared to December of 2019. For December 2020 there were 100 single family homes sold in the area compared to 77 in 2019. No doubt there would be even more sales if there were more options for buyers.
The median price for single family homes sales in Flagstaff in December was $531,157. The National Association of REALTORS® has not released the numbers for December yet but the median sales price nationwide was $315,500 in November.
As mentioned earlier we will be sending our quarterly newsletter at the end of January. We will be discussing the market during 2020. Please reach out if you would like a copy and are not normally receiving our newsletter.
Take a look below for a breakdown of our market by price range: