Excerpt from: Flagstaff Real Estate and Community News
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| May 19, 2008 | | The market is becoming more competitive for buyers in at least some price categories | One hundred ninety-three new home listings came onto the Flagstaff real estate market in the week May 12 through May 18, bring the total of homes for sale in Flagstaff to over 1000. These Flagstaff homes ranged in price from $155,975 for a one bedroom, one-bath condominium in the Country Club area to a nearly $5 million dollar, 7011-square-foot home in the Pine Canyon neighborhood. All of this is according to data provided by the Northern Arizona Multiple Listing Service, which does not contain all homes for sale, but does contain most of the Flagstaff real estate market. Meanwhile, forty-five Flagstaff homes have sold so far in May, as of 8:00 a.m. this morning. At this rate, it’s likely that at the end of the month, we’ll be able to report that the absorption rate (number of homes on the market vs. number of homes sold in the last month), has dropped a bit. But we’ll still be in a “buyer’s market” meaning there are more than six months’ of homes available at the rate that buyers are buying them. On the other hand, I’ve been involved in several offers lately where more than one buyer was offering on the same house at once. This is happening on single family homes in the price range below $450,000. In such situations, one buyer inevitably ends up disappointed. Search all Flagstaff MLS listings with our Flagstaff MLS Guide as your assistant! Check out our featured Flagstaff homes for sale! If you’re in the market to buy a Flagstaff home, contact us or visit our website – put Team Heitland at RE/MAX Peak Properties to work for you! | |
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