Is Flagstaff, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Flagstaff was a Seller's Market.
Key Takeaway
Flagstaff is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Flagstaff, AZ
How much do homes in Flagstaff, AZ cost?
Median Sold Price
$831,300
$398/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Flagstaff have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in Flagstaff was $831,300 in May 2024, up 12.3% from last year, and the median price per square foot was $398.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $284K | $296K | +4.2% |
| 2 Bedrooms | $406.6K | $455K | +11.9% |
| 3 Bedrooms | $663K | $725K | +9.4% |
| 4 Bedrooms | $1.0M | $1.1M | +10.8% |
| 5+ Bedrooms | $1.6M | $1.3M | -17.4% |
Summary: Flagstaff housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 17.4%.
Housing Supply in Flagstaff, AZ
How many homes are available in Flagstaff, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 118 | 148 | +25.4% |
Summary: The Flagstaff real estate market had 148 homes for sale in May 2024, a 25.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 19 | 17 | -10.5% |
| 3 Bedrooms | 43 | 56 | +30.2% |
| 4 Bedrooms | 36 | 46 | +27.8% |
| 5+ Bedrooms | 15 | 23 | +53.3% |
Summary: The Flagstaff housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes increased by 30.2%, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes increased by 53.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 24 | +26.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Flagstaff, you may be able to get a good deal. 70.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Flagstaff in May 2024, up by 26.3% month-over-month. Of the 24 sold homes, 71% were sold under asking, 21% were sold at asking, and 8% were sold over asking.
Days on Market for Flagstaff, AZ
How long does it take to sell a home in Flagstaff, AZ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 62 Days | 50 Days | -18.9% |
Summary: Homes in Flagstaff had an average of 50 days on market in May 2024, down by 18.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Flagstaff has remained consistent over time.
Summary: During May 2024, 24 homes were sold in Flagstaff; 42% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.