The number of single-family homes sold in Flagstaff in January 2009 matched exactly the sales pace of December 2008: 27 single-family-homes sold in the Flagstaff metro area. The total of all types of homes that sold actually fell by 5 units from December, due to fewer sales of condos and townhomes. The median price fell – to $315,000 for a single-family home in January 2009 from $339,000 in December. In January 2008, the median price of single-family homes sold was $366,400.
Yet, the drop in median price of over $50,000 in the past year was insufficient to prevent the continuing climb in inventory of homes for sale and fall in volume. As of today, we have nearly 20-months supply of homes for sale at the current sales pace. In January 2008, that number was 15.5-months (and we thought it was high then).
Data is based upon information from the Northern Arizona Association of Realtors® and is deemed reliable for sales reported to the association, but is not guaranteed and does not include all sales in the market area. The data reported is for all homes with Flagstaff mailing addresses, whether or not they are within the City of Flagstaff; therefore it includes Doney Park, Fort Valley, Kachina Village and other areas in the “greater” Flagstaff metropolitan area.
Before I forget, let me celebrate the closing of two of my Flagstaff listings in January, and another one today -- a total of three homes successfully sold for my Flagstaff real estate clients in 2009! Our listings sold in 2009:
Log Cabin in the Pines
Single Level Foxglenn Beauty
Great Income Property!
If you want to sell your Flagstaff home, contact Team Heitland at RE/MAX Peak Properties. | 
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