I just did a run of statistics for the first half of August in Flagstaff real estate. In many parts of the country, August is called “the dog days of summer.” Many think this term refers to the weather, or to dogs suffering in the summer heat, and it’s been used in reference to the stock market, which often goes into doldrums while traders take August vacations. In fact, the origin of the term “Dog Days of Summer” is ancient and was used by the Greeks and Romans because the “Dog Star” (known as Sirius – not the radio network) was prominent at this time of year. What does this have to do with Flagstaff real estate? Only that the term came to my mind as I saw the results of the statistical run. We really are “in the doldrums” in the Flagstaff real estate market. As of today 1106 homes are for sale in the greater Flagstaff metro area. Ninety-six of homes have been newly listed so far in August. Meanwhile, 54 homes have sold. The good news is that 87 homes have gone under contract in the first half of the month. If these trends continue through the end of the month, we may see a slight reduction in the absorption rate from the nearly 14-months’ supply of homes that we had at the end of July. Flagstaff real estate, overall, will still be a buyers’ market at the end of August. Other good news, unless you are one of these homeowners, is that 51 would-be home sellers threw in the towel and delisted their homes. This is good news because it reduces inventory. Some of them, however, may be part of the ninety-six new listings – old listings just listed with a new agent. Sellers who are looking for agents to sell their homes with magic marketing will be disappointed. Excellent real estate marketing is important to selling a Flagstaff home. In this market, even more important is honest, if unpleasant, advice from a real estate professional that will allow the home to win the price war and the beauty contest that all Flagstaff homes enter when they are listed for sale. To get that advice, as well as the best real estate marketing in Flagstaff, contact Team Heitland at RE/MAX Peak Properties. We’ll make your home sale happen! The numbers reported here are based upon information from the Multiple Listing Service maintained by the Northern Arizona Association of Realtors® and are deemed reliable for sales reported to the association, but are not guaranteed. The sales reported do not include all sales in the market area, but do represent a substantial portion of all sales. The numbers are based upon a search performed for all residential properties with Flagstaff mailing addresses. | 
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