I've downloaded the data and started to analyze the performance of the Flagstaff real estate market during the month of July. The good news is for Flagstaff home sellers with single-family homes priced under $350,000. Those Flagstaff homes have half as much competition compared to the overall market for single-family homes in Flagstaff. The bad news for Flagstaff home sellers is that it is still a buyers’ market in both categories. Based on July sales, relative to homes for sale, in the overall category of single-family-homes with Flagstaff mailing addresses, there is a 14-month supply of homes for sale. For homes priced under $350,000, there is just slightly over a 7-month supply. Another snapshot of statistics for the July Flagstaff real estate market shows that home sellers still have not adjusted to the market we are in. While 56 single-family homes successfully sold in July, nearly twice that many – 104 – expired or were cancelled or withdrawn from the market without selling or going under contract to sell. No doubt, proper staging, or pricing, or negotiations with a lender could have sold these homes – unless, of course, the sellers did not really need or want to sell and were just “testing the market.” These numbers are based on my current download of statistics for the month of July 2008 from the Northern Arizona Association of Realtors® Multiple-Listing-Service. That database does not include all Flagstaff homes for sale or sold (but it does include most of them). Look for more detailed information on the market in this space later in the week. I’ll include price change information as well as sales information for all categories of homes. Meanwhile, if you really do want to sell your Flagstaff home, contact me at Team Heitland at RE/MAX Peak Property. We had a great selling July and are now prepared to accept new listings starting August 13. Make your appointment now! If you want to buy a Flagstaff home, call us today: Team Heitland at RE/MAX Peak Properties. | 
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