Taking the Pulse of the Flagstaff Real Estate Market
By Ann Heitland, Retired from Flagstaff Real Estate Sales
(Retired from RE/MAX Peak Properties)
Flagstaff is not immune from what is happening in the national market. "Somewhat insulated" is a better phrase, in my mind. Still we are seeing home sales prices drop a bit in Flagstaff. Inventory continues to build in many neighborhoods as sellers stick to their prices and refuse to sell. Ultimately, the laws of supply and demand will rule even in Flagstaff and prices will drop further. Right now, the supply of homes is higher than the national average with 15 months supply of single family homes with Flagstaff mailing addresses based on the October rate of sales. (When townhomes and condos are factored into the mix, the supply is reduced to 10 months, which is equal to the current national rate.)Here is a recent post about the real estate market in Flagstaff as of the end of October.W...
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