Flagstaff is a buyer’s market – unless you want to buy in Coconino Estates. This popular neighborhood just north of downtown Flagstaff has held its own during the home sale market collapse. Prices are lower than during the peak of the market, but the supply of homes in Coconino Estates has remained low and buyers who have considered other neighborhoods are often surprised at what they find for their money in the Coconino Estates neighborhood of Flagstaff, AZ.
There have been two bank-owned properties sold in Coconino Estates in the last six months, and there are none presently for sale. Likewise, there have been two short-sale opportunities in Coconino Estates in the last six months – both are under contract. One is awaiting lender approval of the sale price; the other is approved and awaiting closing.
Here is a neighborhood snapshot for Coconino Estates homes sales activity in the last twelve months as reported on the Northern Arizona MLS:
A real estate market with less than six months’ worth of inventory is technically considered a seller’s market. Homeowners in Coconino Estates who are wishing to sell should not let this technicality go to their heads, however. There is a lot of competition not to far away, and sellers should note the drop in prices, even in popular Coconino Estates.
To buy or sell any Flagstaff home, please contact me: Ann Heitland at RE/MAX Peak Properties.
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