Real Estate News: Quarter 1, 2024 Flagstaff Real Estate Market Recap

Railroad Springs

1st Quarter Sales Report 

For Flagstaff in 2024


Total Sales for Q1 2024

There were 132 single-family homes sold in the Flagstaff area during the first quarter of 2024. This is 31 more sales than the Q1 in 2023 but well off 195 sold in the first quarter of 2022. Limited inventory continues to limit the number of sales. As of April 11th, there were only 141 active single-family homes in the Northern Arizona MLS. There were also 121 pending homes under contract. This is up from the 100 pending sales reported in February and we anticipate to see this upward trend continue in Q2.

Q1 2024 Sales Report Chart

Median Sales Price in Flagstaff in Q1 2024

Buyers who were hoping for a reduction in the sales price in 2024 will be disappointed to see the median sales price for the first quarter. The median sales price for single-family homes in the Flagstaff area came in at $742,827 for Q1. The optimism for a drop in mortgage rates in 2024 has weaned as well with the latest inflation numbers released on April 10th. While sales prices may be good news for sellers, most buyers continue to feel constricted by affordability in the housing market.

Median Sales Price Q1 2024 chart

Average Price per Square Foot for Flagstaff Homes in Q1 2024

The average price per square foot came in at $406.47 for single family homes in Q1. This has been a steady increase when comparing Q1 over the last three years.

Average price per square foot table Q1 2024

Average Sales Price for Flagstaff Homes in Q1 2024

The average sales price for the quarter did drop back below the $1,000,000 mark, although just slightly. It came in at $992,255 for the first quarter of the year. 35 of the 132 homes sold this year were over $1,000,000. The high sale for the quarter was a single-family home that sold in Pine Canyon for $6,000,000.

Average sales price table Q1 2024


We are constantly looking at the current market trends and are happy to discuss them with you anytime. Helping our clients buy or sell real estate is all we do. And we’re damn good at it too.

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120 N Beaver St. | Suite 100
Flagstaff, AZ 86001
(928) 714-0001
[email protected]

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