Home prices in Flagstaff’s Ponderosa Trails neighborhood have fallen significantly since 2007, along with the rest of the Flagstaff real estate market. A closer look shows that home prices have leveled out over the last three months; however, during that time the supply of homes has climbed significantly. That’s an indication that prices in the Ponderosa Trails neighborhood are likely to drop again soon.
Here’s a snapshot of the Ponderosa Trails home sales market for the last year:
In the last six months, twenty percent of the home sales in Ponderosa Trails have been REO (bank-owned) properties. One home closed as a short sale. The number of short sales is likely to increase significantly soon since four appear to have been approved and are pending inspections, appraisal and closing and another eight appear to be under contract and awaiting approval of the sale price by the sellers’ mortgage lenders. Right now, there is only one bank-owned property for sale in the Ponderosa Trails neighborhood while there are eight offered as short sales.
Read about the Ponderosa Trails neighborhood: Blog Post about Living in Ponderosa Trails.
To buy or sell a home in Ponderosa Trails -- or anywhere else in Flagstaff -- give me a call: 928-714-0001.
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Note: The reported data comes from information as reported to 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. | 
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