Flagstaff, AZ
Housing Market
Flagstaff's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Flagstaff's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellFlagstaff Housing Market Overview
The housing market in Flagstaff, AZ, offers single-family homes, townhouses, and properties with stunning mountain views—all for a wide range of budgets and lifestyles. The median home price in the city is presently $653,000, down by 1.1% YoY. Moreover, the momentum of home sales is slow, with only 51 homes sold this month. This 5.6% drop reflects a reduction in housing activity and competition in the market.
Nevertheless, Flagstaff's real estate market remains an important part of Arizona's economy. Known for its picturesque surroundings, access to outdoor recreation, and thriving community, Flagstaff attracts both local and out-of-state buyers. Sellers can capitalize on this demand by pricing their homes realistically and offering concessions to facilitate a quicker sale.
Nevertheless, Flagstaff's real estate market remains an important part of Arizona's economy. Known for its picturesque surroundings, access to outdoor recreation, and thriving community, Flagstaff attracts both local and out-of-state buyers. Sellers can capitalize on this demand by pricing their homes realistically and offering concessions to facilitate a quicker sale.
Median Sale Price
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Flagstaff Housing Supply
Real estate in Flagstaff, AZ, appeals to investors due to the city's growing demand and status as a holiday destination. Currently, there are 187 homes for sale in Flagstaff, which includes 84 new listings. The months of housing supply in Flagstaff range from 2.1 to 3.7 months, which points to a market that is somewhat competitive.
Flagstaff's housing supply varies based on seasonal trends. The market typically sees a rise in new listings during spring and summer. In this period, both buyers and sellers are active, looking to close deals before the school year begins or the cold sets in. Flagstaff offers a desirable lifestyle with a mix of urban convenience and access to nature, which fuels consistent demand. Popular neighborhoods like Kachina Village and Doney Park provide a range of options, from charming single-family homes to larger properties with scenic views. Flagstaff's strong infrastructure, proximity to national parks, and outdoor recreation further increase its appeal.
Flagstaff's housing supply varies based on seasonal trends. The market typically sees a rise in new listings during spring and summer. In this period, both buyers and sellers are active, looking to close deals before the school year begins or the cold sets in. Flagstaff offers a desirable lifestyle with a mix of urban convenience and access to nature, which fuels consistent demand. Popular neighborhoods like Kachina Village and Doney Park provide a range of options, from charming single-family homes to larger properties with scenic views. Flagstaff's strong infrastructure, proximity to national parks, and outdoor recreation further increase its appeal.
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Flagstaff Housing Demand
Flagstaff's real estate market has shown some shift in competition recently. 23.5% of homes are selling above their list price, an indicator of strong demand. At the same time, 20% of homes have seen price drops. This suggests that some sellers are open to adjusting their expectations. However, the sale-to-list price ratio is at 99.9%, which means that most sellers receive close to their asking price for homes.
In these market conditions, the sale-to-list price ratio plays a significant role in determining who holds more negotiation power. As a seller, if you price your home appropriately from the start, you can avoid the need for price reductions. You could also offer concessions to buyers rather than lowering your asking price right away. If the sale-to-list price ratio is close to 100%, it means that sellers get close to their asking price. If you're a buyer, you should focus on homes with extended listing periods. Also, consider properties with previous price reductions, as they could offer you more room for negotiation.
In these market conditions, the sale-to-list price ratio plays a significant role in determining who holds more negotiation power. As a seller, if you price your home appropriately from the start, you can avoid the need for price reductions. You could also offer concessions to buyers rather than lowering your asking price right away. If the sale-to-list price ratio is close to 100%, it means that sellers get close to their asking price. If you're a buyer, you should focus on homes with extended listing periods. Also, consider properties with previous price reductions, as they could offer you more room for negotiation.
Homes Sold Above List Price
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Strong
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Flagstaff Housing Market: When to Buy or Sell?
Flagstaff's housing market has shifted between buyer-friendly and seller-friendly conditions over time. Like the broader Arizona real estate market, Flagstaff's housing market takes turns favoring buyers and sellers based on seasonal trends. When competition is low and inventory is on the rise, buyers have more room to negotiate. On the other hand, sellers can benefit from higher prices and quicker sales when demand surpasses supply.
Moreover, if the months of Flagstaff's housing supply rise above the balanced range of the US real estate market (5 to 6 months), buyers may have more time to consider their options. Awareness of these market forces can help you strategically time your decision to buy or sell.
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Frequently Asked Questions
How have the price of Flagstaff houses changed over the past year?
Over the past year, the median Flagstaff house prices have reached $653,000, which marks a 1.1% decrease. You can check your home's fair market value with our free home value estimator to decide on your initial asking price, and compare it with other properties in your area.
What are Flagstaff real estate market predictions for 2025?
The housing market in the city is mildly competitive, and demand remains steady. While the median home price has declined slightly, Flagstaff's townhomes and condos see steady price growth. However, rising mortgage rates may pose challenges for some buyers.
What's the average home price in Flagstaff?
The average home price in Flagstaff, AZ, varies depending on property type and size. Condos in Flagstaff average $366,750, while single-family homes typically cost around $659,000. Flagstaff offers a variety of options for homebuyers across budgets. You can always find cheap homes for sale in Flagstaff to suit your needs.
Is this a good time to buy a home in Flagstaff, AZ?
First, assess Flagstaff's real estate trends, from housing prices to inventory levels. This will help you understand whether it's a buyer's or seller's market. If mortgage rates are stable and inventory levels are high, it may present a good opportunity to buy a home in Flagstaff.
Where can I check Flagstaff housing market trends?
Inventory and competition in the Flagstaff housing market tend to remain stable throughout the year. If you want to invest in Flagstaff real estate, you can check the city's housing market trends to decide on the best time to act.
When will the Flagstaff housing market crash?
According to housing market forecasts, the Flagstaff market is unlikely to experience a crash. In fact, prices are projected to rise during peak months, with growth expected through 2025. However, an increase in housing supply could lead to price adjustments as demand slows.
How to buy a home in Flagstaff?
The steps to purchasing a home in Flagstaff should start with a clear budget and mortgage pre-approval. From there, you can search for homes for sale in Flagstaff, make offers, secure financing, and proceed with the closing process.
How can I list my home for sale in Flagstaff, AZ?
You can list your home for sale with a Flat Fee MLS Arizona listing service. Top-rated companies like Houzeo will automatically assign the correct paperwork for your location, saving you money on agent commissions. 🚀
What is the average mortgage rate for buyers in Flagstaff?
The average mortgage rate for buyers fluctuates between 6% and 7%. However, it depends on the market and the borrower's credit score. Always check current rates with lenders before you apply.
What is the cost of living in Flagstaff, AZ?
Flagstaff's cost of living is 22% higher than the national average, primarily due to higher housing costs. Housing in Flagstaff costs 51% more than the US median; the typical home in Flagstaff costs $653,000. However, utilities in the city are 8% lower than the national average.
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