Excerpt from:  Flagstaff Real Estate and Community News
.
October 16, 2007

Flagstaff Mid-Month Market Update

What’s happening in the Flagstaff residential real estate market in mid-October 2007?

For October 1- October 16, this is what the market looks like in Flagstaff according to statistics available from the Northern Arizona Association of Realtors® Multiple Listing Service:

Homes actively for sale (as of October 16)

954

Pending with standard contingencies

84

Pending with all contingencies removed

48

Sold

27

Withdrawn or Cancelled

49

Expired

32

These numbers are for all residences with Flagstaff mailing addresses, whether inside the city limits of Flagstaff or in the immediately surrounding unincorporated areas of Coconino County – what is generally thought of as the Flagstaff metropolitan area.

Here’s my color coding key:

Red = owners fishing for buyers (954)
Green = bought (27)
Blue = rejected by the market (81)

The inventory count of homes for sale has dropped slightly since this time last month, when there were 971 homes for sale. That’s good news for those trying to sell. But in the past 30 days, only 74 homes successfully closed. As compared with last month, with 954 homes now actively for sale, this means that we are facing a higher ratio of homes for sale relative to buyers in the market, if sales continue at this pace.

If you want to sell, you need to position your home with the three factors that can make a difference (1) price, (2) appearance, (3) marketing. To learn how to do it, call Team Heitland or visit our Flagstaff real estate website.

Here are some other market reports:

Perspective on the national real estate market

Third Quarter Flagstaff Real Estate Market Report

by Ann Heitland
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