So far in February 2009, nine Flagstaff homes have sold and another twelve have gone under contract to sell. This is a good pace compared to January and December – at this rate Flagstaff’s real estate market will at least match those months, and perhaps exceed them for total sales closed in February.
On the other side of the market – the new listings side – thirty-three Flagstaff homes have been listed in the first ten days of February. With homes going under contract and other homes dropping off the market, the total of listings compared to the end of January is only up two. That’s relatively good news for inventory – at least it is not growing! But, remember we had nearly 20-months supply of Flagstaff homes for sale at the end of January. So, we still have a long ways to go – and lots of sales to make – before we achieve a balanced market.
If you are interested in how short sales fit into the Flagstaff market picture, I recently posted on that topic: Short Sales in the Flagstaff Homes Market.
So far in February, sold homes have ranged in price from $220,000 for a 3 bedroom/2 bath rural property of about 1300 square feet to a $580,000 custom log cabin on five acres – also a rural property; incidentally, that was one of my listings. Homes that have gone under contract in the first ten days of February have ranged in price from $179,900 to $689,000. New listings have ranged from $89,000 (value is in the land) to a $1.1 million dollar six bedroom home in Lakeside Acres.
When you are ready to buy or sell Flagstaff real estate, start by calling me – see why by visiting the website of Team Heitland at RE/MAX Peak Properties. | 
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