April 23, 2024

Flagstaff AZ Real Estate Market Update- March 2024

Flagstaff AZ Real Estate Market Data Provided by The Broaddus Properties Group Brokered by eXp / by Joselyn Uy

March 2023 Flagstaff Market Report

 

 Flagstaff Inventory Surge Sparks Excitement for Prime Homebuying Season!

 

March infused a burst of optimism into the budding spring real estate landscape! Witnessing an extraordinary surge, March 2024 saw new listings skyrocket by 36% compared to the same period in 2023. This surge in listings resulted in a remarkable 29.8% increase in overall inventory vs last year, laying the groundwork for an exhilarating market transformation. Dive into our latest update to learn more!

 

FLAGSTAFF HOME SALES

US Existing-Home Sales Descended 4.3% in March while Greater Flagstaff's housing market slipped 1.5% from the previous month, according to data provided by the Northern Arizona MLS. With ninety-four homes sold, this is one of the lowest March sales in a decade—but way better than last year with only 66 homes sold. The highest was in 2021, with 151 homes. 

 

Flagstaff Home Sales by Type

March 2024 Flagstaff Home Sales by Type

 

"Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves. There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market," said National Association of Realtors Chief Economist Lawrence Yun.

 

In March 2024, the Broaddus Properties Group, under the brokerage of eXp, aided five clients in selling and locating their desired homes in Flagstaff & Williams, with a combined value surpassing $5,500,000.

 

FLAGSTAFF MEDIAN HOME PRICE

Flagstaff Median Home Price & DOM March 2024

"The median list-to-sales ratio for this area is 98.5%." The list-to-sales ratio is the percentage of the list price that the buyer paid for the property. 

The median property price in Flagstaff slipped for the second month in a row by 1.5%, reaching just $695,550 in March. In comparison to the same month last year, this reflects a notable 9.5% rise from $635,000. The median sale price measures the'middle’ price of homes that sold, meaning that half of the homes sold for a higher price and half sold for less . . . For example, if more lower-priced homes have sold recently, the median sale price would decline (because the “middle” home is now a lower-priced home), even if the value of each individual home is rising.

In March, homes were sold more rapidly, with the median time on the market decreasing to 65 days. This marks a 10-day reduction compared to the previous year.

DOWNLOAD THE FULL FLAGSTAFF MARKET REPORT HERE

 

MARCH 2024: Flagstaff Market Watch Summary

2023 Flagstaff Real Estate Market Watch Total Home Sales: 94 homes, up 42.4vs. March 2023.

Median Sale Price: $695,556, up 9.5% vs March 2023

Mortgage rates: The 30-year fixed-rate mortgage rate averaged 7.33 percent the week of April 17, according to Bankrate.com

Longest days on market (SF): 388 days This luxury townhome in Elk Pass (Pine Canyon) offers four bedrooms and four baths and features a full-length covered outdoor patio with built-in BBQ.

CDOM The acronym CDOM (Cumulative Days on Market) is used by the Flagstaff MLS to describe how many days a property has been available for sale. A property must be off the MLS for at least 90 days for the CDOM to restart, even if a different agent lists it. We report the average days on the market for properties sold based on CDOM.

The number of days a home sits on the market can tell us a lot about pricing. A high CDOM is commonly a strong indicator that the home is overpriced. 

 

FLAGSTAFF LUXURY HOME SALES

 The Institute for Luxury Home Marketing has established the luxury benchmark price for single-family homes in Flagstaff at $975,000. The LUXURY BENCHMARK PRICE is the price point that marks the transition from traditional homes to luxury homes.

Flagstaff Luxury Market Report March 2024

  • The Flagstaff single-family luxury market is a Seller's Market with a 23% Sales ratio.
  • Homes sold for a median of 100% of list price in March 2024.
  • The most active price band is $975,000–$999,999, where the sales ratio is 67%.
  • The median luxury sales price for single-family homes is $1,625,500.
  • The median days on market for March 2024 was 54 days, up from 39 in March 2023.

 

 

HIGHEST-PRICED HOMES SOLD IN FLAGSTAFF IN MARCH 2024

FLAGSTAFF'S PRICIEST HOMES SOLD in March 2024

Photo courtesy of Silverleaf Realty LLC

  • In March 2024, the highest-priced single-family home sold in Flagstaff was a $6,000,000 luxury residence with seven bedrooms, located in Pine Canyon and constructed in 2009.
  • The most expensive sale of a townhome in Flagstaff was a $1,875,000 purchase of a four-bedroom Pine Canyon townhome, situated with picturesque views of the golf course. This luxurious residence features an on-site casita, a spacious deck equipped with a barbecue, and a downstairs bunk room.
  • The highest-priced condominium sale in Flagstaff was a $1,650,000 three-bedroom unit situated in Pine Canyon.

 

THE MOST AFFORDABLE FLAGSTAFF HOMES SOLD in MARCH 2024

Lowest Priced Flagstaff Home in March 2024

Photo courtesy of UR HOME Realty

  • The lowest-priced single-family Flagstaff home that sold in March was a $330,000 three-bedroom fixer upper in Upper Greenlaw
  • Last month's most affordable townhome sale in Flagstaff was a centrally located two bedroom, sold at $305,000. Located in the Sunnyside neighborhood, this home boasts views of Mt. Elden and the San Francisco Peak & 2 designated parking spaces.
  • The lowest-priced Flagstaff condominium sold was a $255,500 1 bedroom, 1 bathroom ground floor unit situated in the University Heights neighborhood, a desirable location near campus, restaurants and shopping

 

Flagstaff Home Buyer Advice

As we approach the peak homebuying season, the increased inventory means more options for buyers. However, it's important to keep an eye on mortgage rate trends amid the excitement of finding your dream home.

Mortgage rates have been fluctuating due to factors like inflation, economic growth, and decisions by the Federal Reserve. Understanding these complexities can be overwhelming, especially when you're busy planning your move.

That's where professionals can help. Instead of diving into market intricacies yourself, rely on experts for a clear summary of trends and their impact. They can provide valuable insights and tools, like charts showing how mortgage rates affect monthly payments.

Even a slight rate shift can significantly impact affordability. With a knowledgeable professional by your side, you can navigate these complexities confidently.

Here's the bottom line: you don't have to be an expert on real estate or mortgage rates; you just need the guidance of someone who is. So, when starting your homebuying journey, make sure you have a trusted professional supporting you every step of the way.

Reach out to our team today at 888.446.5602 to understand what current market conditions mean for your homebuying journey.

If you’d like to look at what’s available on the market, you can view the homes that are available in the Northern Arizona MLS right now:

Click here to see all Flagstaff homes for sale

Search Northern Arizona Homes For Sale

Home Buying Tips Our home buyer's blog will help you plan and prepare for your successful home purchase and avoid headaches and surprises that may arise during the process.

Sign up for free to receive our updates about coming soon properties and homes for sale not listed on the MLS. I can set up a customized search so you’ll get notified when new listings that meet your criteria hit the market.

 

 

Flagstaff Home Seller Advice 

For home sellers, concerns about declining home prices may stem from sensationalized media reports. However, data reveals a different story.

Over the past year, home prices predominantly rose, with only slight fluctuations. These dips are typical during the winter months when housing activity slows. Experts emphasize that these minor declines are insignificant in the broader context of overall price growth.

So, if you're worried about your home's value, remember that the data indicates an upward trend. For personalized insights into your local market, consult a reliable real estate professional. They can provide accurate information and guidance tailored to your specific situation.

If you’re curious about what your home is worth in today’s market, click the image below, then enter your address to instantly calculate your home’s value in today’s market based on recent Flagstaff home sales

 

What is the value of your Flagstaff Home?

 

Home Selling Tips Our blog for Northern Arizona home sellers has tons of tips to help sell your home faster and add thousands of dollars to your bottom line. Check it out

We at the Broaddus Properties Group with eXp Realty know that the only result that ultimately matters is that your home gets sold — and sold for the right amount. Satisfied clients say it all. Check out our 5 Star Reviews. 

 

Got any questions about buying or selling in Flagstaff, or are you ready to kick off the process? Just give us a call or shoot us an email. We look forward to hearing from you! Feel free to reach out at 888.446.5602 or drop me a line at kelly.broaddus@exprealty.com. Cheers!

 

 

You Might Be Interested In:

April 2024 Flagstaff Luxury Real Estate Market Report

 

April 20, 2024

8655 Vista Peak Way LOT 34 Flagstaff, AZ 86001

Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

8655 Vista Peak Way LOT 34 Flagstaff, AZ 86001 

Build Your Dream Mountain Retreat: 2-Acre Parcel with Panoramic Views in Ranch at the Peaks
$365,000

 

Welcome to your opportunity to build the perfect mountain retreat in the peaceful Ranch at the Peaks. This expansive 2-acre parcel features a level landscape with panoramic views of lush meadows, dense forests, and majestic mountains. It is ideally located within the subdivision, providing a prime balance of privacy and accessibility.

Situated just beneath the towering Mt. Humphreys, the area is a paradise for outdoor lovers. Enjoy direct access to the Open Space trail from the property’s side boundary, with a network of trails through the picturesque landscape readily available. Winter sports enthusiasts will find delight in the close proximity to Snowbowl, offering superb skiing opportunities.

This land is perfectly poised for convenience and natural beauty, centrally located within Ranch at the Peaks for easy access to all amenities. It neighbors a vacant community strip of land, enhancing your privacy. Water services are handled by a private water company, facilitating your building process.

Ideal for those planning either a seasonal retreat or a permanent residence, this parcel offers a rare chance to design a unique home in a tranquil, scenic environment.

 

Photos and more information are here: 

www.northernarizonafinehomes.com/property/196466

 

Location

 

Attractions & Recreation

You’ll be well-situated to easily visit some of the most renowned attractions of northern Arizona, including the Grand Canyon, Sunset Crater and Wupatki National Monuments, Arizona Snowbowl Ski Resort, Arizona National Scenic Trail, and many other adventure opportunities. 

  • Museum of Northern Arizona - Excellent local museum, lots of Native American archeology and Anasazi artifacts.
  • Lowell Observatory - Astronomical observatory where the planet Pluto was discovered. Great place to go if you want to enhance your knowledge about astronomy, time with the stars on the horizon explained, and a chance to look through the giant telescope.
  • Riordan Mansion State Historic Park - Your tour will lead you through this historic home, filled with original artifacts, handcrafted furniture, and personal items belonging to the Riordan family.

 

Schools

Children in this community typically go to the following nearby schools:

  • Charles W Sechrist Elementary School PK-5
  • Mount Elden Middle School 6-8
  • Flagstaff High School 9-12

Ranch at the Peaks/Snowbowl Ranches Neighborhood Information

The Ranch at the Peaks/Snowbowl Ranches neighborhood in Flagstaff, Arizona offers a blend of natural beauty and modern living. Here are three unique features that set this community apart:

  • Mountain Views and Serene Setting:
  • Spacious Lots and Custom Homes:
  • Outdoor enthusiasts will love the proximity to Arizona Snowbowl Ski Resort, forest access, hiking, and biking trails.

Whether you seek adventure or relaxation, this community offers a unique blend of natural beauty and convenience. Visit the Ranch at the Peaks/Snowbowl Ranches Home community page for more information about this area.

Looking for a beautiful home or building site in Northern Arizona? Contact Kelly Broaddus at kelly.broaddus@exprealty.com or call 888-446-5602 to see residential houses for sale in Flagstaff.

 

Lots/Land Parcels for Sale in Northern Arizona

Parks AZ LOT/LAND FOR SALE

FLAGSTAFF AZ LOT/LAND FOR SALE

SEDONA AZ LOT/LAND FOR SALE

WILLIAMS AZ LOT/LAND FOR SALE

April 19, 2024

April 2024 Flagstaff Luxury Real Estate Market Report

 

 

The report is a guide to the luxury real estate market in North America and Flagstaff.  It provides an overall analysis with trends and highlights comparative data on the top-residential markets throughout Canada and the United States. 

DOWNLOAD THE LUXURY REPORT

 

  • This month’s report displays the market statistics for North America AND Flagstaff month over month, as well as the 13-month trend.
  • This month’s report displays the market statistics for North America month over month as well as the 13-month trend.
  • This month we discuss the real estate market trends observed in March, traditionally seen as the start of the spring market.
  • We review the complexities of the spring market, highlighting both its strength and variability, as well as how it can give insights into future trends.
  • Understand why, even though luxury homes have seen an increase in inventory and sales, it’s still critical to appreciate the impact of active inventory that remains below pre-pandemic levels.
  • We discuss why despite ongoing strength in the market there are variations across different regions and property types.
  • Market dynamics vary across regions, with some areas favoring buyers and others favoring sellers. Local markets exhibit significant differences, influencing buyer and seller dynamics.
  • Understanding statistical data at both macro and local levels is crucial for informed decision-making, providing insights into market trends and inventory levels.
  • We emphasise the importance of understanding statistical data and qualitative analysis in the navigation of today’s market.
  • And how, by combing both approaches, buyers and sellers can make informed decisions amidst the dynamic and evolving real estate landscape.

As always, it is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities within your local market, as they may differ from the viewpoint at the national level.

 

Take a look at our latest local City Report:

 

NORTHERN AZ LUXURY HOMEOWNER ADVICE

For homeowners looking to sell or buy their luxury home in today’s market we recommend working with a realtor who can provide you with critical knowledge about your local market, maintain a high level of security during the transaction and knows how to leverage technology to provide maximum exposure and assistance.

What is the value of your Flagstaff Home?

 

GET IN TOUCH

It is my responsibility as your REALTOR to ensure that when others around you are lowering their expectations, that this becomes the time for us to switch gears and discover how to leverage the Flagstaff luxury market effectively to achieve your goals. Contact us at kelly.broaddus@exprealty.com or call 888.446.5602.

 

 

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February 2024 Flagstaff Luxury Real Estate Market Report

 

 

April 11, 2024

2647 E Vista Pl, Williams, AZ 86046

Kelly Broaddus |  eXp Realty |  888.446.5602 | Contact Kelly


2647 E Vista Pl, Williams, AZ 86046

Escape to Mountain Serenity: Stunning Log Home on 5 Acres with Panoramic Views, Office & Loft Space, In-Floor Heating, and More!

3 Beds | 3.25 Baths | $1,750,000

 

Embark on a Journey to Tranquility: Unveiling a Stunning Log Home Oasis in the High Country | An Exclusive Retreat for Discerning Luxury and Golf Home Buyers in Northern Arizona!

 

Prepare to be mesmerized by the expansive beauty of the High Country as we introduce you to this breathtaking sanctuary nestled on 5.03 acres of secluded paradise. Tucked amidst towering juniper and pinon trees, this picturesque retreat invites you to experience the epitome of mountain living.

 

Step onto the charming wrap-around composite deck and immerse yourself in panoramic vistas that will leave you in awe. With 3 bedrooms and 3.5 bathrooms, a spacious kitchen featuring a farmhouse sink, a welcoming great room, and a family room bathed in natural light, every corner of this home exudes warmth and elegance.

 

EXPLORE 2647 E VISTA PL IN 3D

 

A versatile loft space, perfect for unwinding or pursuing creative endeavors, and an office tailored for remote work seamlessly blend modern convenience with the tranquility of nature. Hardwood floors and luxurious in-floor heating ensure comfort and sophistication throughout.

 

Indulge in the ultimate sanctuary of the main floor master suite, boasting a generous walk-in closet, a separate jetted tub, and shower, offering a retreat within a retreat.

 

And let's not forget the extra-large 2-car garage, measuring 25x38 and equipped with heating, providing both functionality and convenience.

Luxury home buyers seeking the perfect blend of sophistication and serenity, and golf home buyers yearning for a slice of paradise in Northern Arizona, this is your opportunity to experience true mountain living.

 

Don't miss out on this idyllic haven! Contact us today to unlock the door to your dream Flagstaff home.

 

TAKE A VIRTUAL TOUR

Photos and more information here: 

 

www.northernarizonafinehomes.com/property/196353/

Location

2647 E Vista Pl

Car-Dependent

Learn more about Williams

Located in historic Williams, just forty miles east of Flagstaff and one hour south of the Grand Canyon. I-40, north on Hwy 64, and turn right on St Francis St., follow around and right on Fir St., go through the gate, right on Pinon, and right on Vista PL.

  • 13.4 miles to North Country HealthCare- Williams Hospital
  • 9.1 miles to Williams Municipal Airport
  • 9.5 miles to H.A. Clark Memorial Field Airport
  • 12.9 miles to Canyon Vista Mall

 

Attractions & Recreation

 

Dining Nearby

There are plenty of dining options along Historic Route 66, a short commute from this beautiful home. Dine at top rated restaurants in historic downtown Williams: Kicks On Route 66 Bar & Grille, Red Raven Restaurant, Western View Steakhouse & more. Stop for a barbecue and pork sandwiches dinner at the Cowboy Cafe at Grand Canyon KOA 

 

Schools

Nearby schools

  • Williams Elementary/Middle School
  • Williams High School
  • School District: Williams Unified District

 

See all homes for sale on 10+ Acres in Williams AZ

 

Search for Luxury Homes in Northern Arizona

Flagstaff AZ Homes for Sale $650,000 - $1M

Flagstaff AZ Homes for Sale Over $1M

Sedona AZ Homes For Sale $650,000 - $1M

Sedona AZ Homes for Sale Over $1M

Williams AZ Homes for Sale $650,000 - $1M

Williams AZ Homes for Sale Over $1M 

April 10, 2024

Navigating Home Insurance in Northern Arizona: 6 Tips to Save on Flagstaff Real Estate

6 Strategies to Save on Home Insurance Premiums

 

From wildfires to floods, the past few years have brought a historic number of devastating climate and weather events to the United States. In 2023 alone, there were 28 individual weather-related disasters that caused at least $1 billion in damages each.1

 

These events triggered a huge influx of home insurance claims, and analysts expect the increase in both catastrophes and claims to continue. Adding to the problem, construction labor and supply costs have risen, making it more expensive to repair affected homes. Consequently, home insurance rates have surged: In 2024, Bankrate reports, premiums are already up an average of 23%, following double-digit increases the previous year.2,3

 

In disaster-prone regions, the situation is even more challenging. Some insurers have pulled out of risky areas entirely, and many of those that still offer policies in high-risk areas have doubled or even tripled their premiums.4

 

For most homeowners, comprehensive home insurance coverage is crucial for financial security—but massive rate increases can turn a once-affordable home into a financial burden. They can also pose a serious challenge for sellers. A home insurance policy is typically required to get a mortgage, and, in some hard-hit regions, we’re seeing sales fall through or homes sit on the market because insurance policies are unattainable or too expensive.5,6

 

But don’t panic! While these broader trends may be out of your control, there’s still plenty you can do to save. Here are our top six strategies to slash insurance premiums while maintaining the protection you need.

 

 

  1. SHOP AROUND

 

When looking for home insurance in Northern Arizona, especially in Flagstaff, it's crucial to explore multiple quotes. We recommend reviewing at least three estimates before you commit to a policy. You can get quotes either by reaching out to insurers directly or by working with an independent insurance broker.7 You’ll need to provide detailed information about the property you’re insuring and your claims history.

 

Make sure you read policies carefully before you choose. Sometimes, a policy can look like a better deal at first glance but turn out to have important coverage gaps. Be sure to consider how much the policy will pay out to repair or replace your home and review caps on personal possession and liability claims. It’s also smart to read reviews from policyholders (Trustpilot is a good place to start) and ratings published by organizations like the Better Business Bureau and J.D. Power.

 

For help choosing the right policy, reach out to us for a list of trusted insurance professionals.

 

 

  1. INCREASE YOUR DEDUCTIBLE

 

The size of your deductible—which is the amount you pay before your insurance coverage kicks in on a claim—is a major factor in your insurance cost.

 

A low deductible, such as $500, comes with higher premiums, while a higher deductible, like $2,500 or even $5,000, costs less on a monthly basis. In some cases, you may be able to customize your coverage further by designating a different deductible for certain kinds of claims, such as those caused by named storms or natural disasters.

 

If you are confident that you have enough in savings to cover that initial outlay if needed, choosing a higher deductible can help you save significantly over the long term. According to Nerdwallet, raising your deductible from $1,000 to $2,500, for example, could save you an average of 11% each year.8

 

 

  1. BUNDLE MULTIPLE TYPES OF INSURANCE

 

Insurers want to get as much of your business as possible, so most offer significant discounts if you bundle your home and auto insurance, meaning that you package the two policies together. With some insurers, you can get even higher savings by bundling more than home and auto—RV, boat, jewelry, and life insurance are potential options to consider.

 

According to US News and World Report, insurers typically offer customers who bundle home and auto insurance 10-25% savings on monthly premiums. This approach also has other advantages: It cuts down on your paperwork, and in some cases—like if a storm damages both your home and car—you may be able to pay just one deductible instead of two when you file a claim.9

 

However, before you sign on the dotted line, remember strategy #1 and be sure to shop around. In some cases, bundling isn’t the cheaper option, and bundling deals vary between companies. It’s also critical to carefully check that the bundled coverage offers everything you need.

 

 

  1. ASK ABOUT AVAILABLE DISCOUNTS

 

Did you know that being a nonsmoker might qualify you for a home insurance discount?8 Some insurers offer some surprising incentives for policyholders who pose a statistically lower risk of filing a claim. In the case of nonsmokers, that’s because of the decreased risk of a home fire.

 

Many carriers also offer discounts to military-affiliated families, homeowners in certain professions, such as teachers or engineers, or recent homebuyers. Sometimes, you can also save by opting for paperless billing or paying your premiums for a full year upfront.10

 

Since available discounts vary significantly between insurers, the best strategy is to simply ask a representative for the full list of available discounts so you can see what cost savings might be available to you.

 

 

  1. AVOID MAKING SMALL CLAIMS

 

Worried that your premiums will rise significantly in the future? Try to avoid making a claim unless truly necessary. Many insurers offer discounted rates to policyholders who go a certain number of years without filing a claim, and filing multiple claims typically results in large increases.10 If you file too many, you may even risk nonrenewal of your policy.11

 

Since the cost of even a small premium increase can add up significantly over time, if you have minor damage to your home—for example, if a few shingles blew off your roof in a windstorm—it may be a wiser long-term financial decision to pay out of pocket instead of filing a claim.

 

If the cost of the repair is less than your deductible, it never makes sense to file, and if it’s just slightly above your deductible, it’s also usually best to pay for the repairs yourself. Additionally, always be sure to review your policy before you make a claim. Even claims that are denied can count against you, so it’s not worth filing if the damage is clearly excluded from coverage.11

 

If you find yourself in this situation, feel free to reach out for a list of reasonably-priced professionals who can help with home repairs.

 

 

  1. BE STRATEGIC ABOUT HOME IMPROVEMENTS

 

Insurance premiums alone may not be the deciding factor for a home improvement project, but it’s important to know how renovations could impact your rates—for better or worse.

 

For example, some upgrades and repairs can reduce your premiums by making your home safer or less prone to certain types of damage. These include:12
 

  • Upgrading your electrical system
  • Updating your plumbing
  • Installing a monitored security system
  • Adding a fire sprinkler system
  • Replacing the roof

 

On the other hand, some upgrades can raise premiums significantly, either because they increase the value of your home (and therefore the cost to replace it) or because they pose a hazard. These include:12

 

  • Installing a swimming pool or other water features
  • Building an extension or expanding your living space
  • Upgrading materials, like flooring or countertops
  • Adding a fireplace or woodstove
     

Whether or not your planned renovations are on either of these lists, it’s wise to inform your insurer about changes you make to your home—otherwise, you may risk gaps in coverage. And you’re always welcome to check with us before you begin any home improvement project to find out how it could impact the value and resale potential of your home.

 

 

BOTTOMLINE: Protect Your Investment in Flagstaff Real Estate Without Sacrificing Enjoyment of Your Home

 

Getting the coverage you need for financial security without overpaying can be a tricky balance, especially in today’s environment. But remember, while it’s important to find the best deal you can, home insurance isn’t an area to skimp on.

 

For advice on your specific risks and the type of coverage you need, we recommend consulting with a knowledgeable insurance professional. We’re happy to connect you with a trusted adviser in our network. And if you’re considering a home renovation, feel free to reach out for a free consultation on how it might affect your property value (and your premiums).

 

 

The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, insurance, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

 

Sources:

  1. Climate.gov -
    https://www.climate.gov/news-features/blogs/beyond-data/2023-historic-year-us-billion-dollar-weather-and-climate-disasters
  2. Bankrate -

https://www.bankrate.com/insurance/homeowners-insurance/homeowners-insurance-cost/

  1. Policygenius -
    https://www.policygenius.com/homeowners-insurance/home-insurance-pricing-report-2023/
  2. CNN -

https://www.cnn.com/2023/09/20/business/insurance-price-increase-risk-climate-first-street-dg/index.html

  1. BBC -

https://www.bbc.com/news/business-66367224

  1. US News -

https://realestate.usnews.com/real-estate/articles/how-climate-change-could-impact-your-home-value

  1. Nerdwallet -

https://www.nerdwallet.com/article/insurance/how-to-shop-for-homeowners-insurance

  1. Nerdwallet -

https://www.nerdwallet.com/article/insurance/save-on-homeowners-insurance

  1. US News and World Report -

https://www.usnews.com/insurance/homeowners-insurance/how-to-bundle-home-and-auto-insurance

  1. Marketwatch -

https://www.marketwatch.com/guides/insurance-services/how-to-save-on-homeowners-insurance/

  1. Bankrate -

https://www.bankrate.com/insurance/homeowners-insurance/when-to-file-a-home-insurance-claim/#when

  1. Bankrate -

https://www.bankrate.com/insurance/homeowners-insurance/home-insurance-and-renovations/ 

 

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March 2024 Flagstaff Luxury Real Estate Market Report

 

April 8, 2024

3200 S Litzler Drive Unit 23-241, Flagstaff, AZ 86005

Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

3200 S Litzler Drive Unit 23-241, Flagstaff, AZ 86005

UNDER CONTRACT! Impeccably Renovated Condo with Serene Views in University Heights | NAU Access | Flagstaff Living

    2 Beds |   2 Baths | $335,000

 

Condo on the west side, located at the rear of the development away from traffic noise! Impeccably renovated, this residence is a testament to fine craftsmanship. Conveniently located near Northern Arizona University, dining hotspots, and entertainment venues, this condo offers the perfect blend of urban living and tranquility.

Plus, with urban trail access to NAU and surrounding Flagstaff areas, outdoor adventures are just steps away. There is ample parking with one assigned covered space. Enjoy a relaxing cup of coffee while watching the view from your balcony. 

Don't let this exceptional opportunity slip away!

 

3D Virtual Tour

Photos and more information here:

www.northernarizonafinehomes.com/property/196307/

 

LOCATION

3200 South Litzler Drive

Car-Dependent

Learn more about University Heights Flagstaff

Take Beulah Blvd. to University Heights and turn right. Make a left at the second entrance to the condo complex. Building 23 is the first one on the right.

Amusement & Recreation 

      • Wheeler Park- A great place to stay cool under the trees and enjoy the outdoors with family.
      • Flagstaff Extreme Adventure Course - This place provides a safe, fun, physical and unique outdoor experience in the trees. 
      • Thorpe Park Center - Great place for the whole family including the furry ones. There are plenty of activities for the kids, a playground area, picnic tables, lots of grass areas, sports fields, a dog park, adequate parking.  

Dining Nearby

Visit Olive Garden Italian Restaurant, they offer great menu choices with many healthy (gluten and vegan ) options. You can also drop by at Delhi Palace  to try their  high quality, traditional Indian cuisine. Your Pie Pizza serves satisfying pizza and pasta with a nice selection of local brews and wine

Nearby Schools

        • Manuel DeMiguel Elementary School
        • Mount Elden Middle School
        • Flagstaff High School

If you are looking for an investment property near NAU, this is it! Perfect for students and young professionals. Call Kelly at 888.446.5602 now for more information about this condo at The Village in University Heights Flagstaff, AZ.

 

University Heights Neighborhood Information

The Village is an apartment complex with 207 units located in the University Heights neighborhood. Monthly HOA costs usually cover – landscaping, regular maintenance, management fees, any clubhouse amenities such as: pool, spa, workout room/gym, security and/or common area electricity, free internet, water, sewer, trash, one designated parking space, and ample additional parking. On-site coin-operated laundry facility. No gas bill: heater

Check out our University Heights Neighborhood Guide for more information. 

 

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April 2, 2024

3515 W Strawberry Roan, Flagstaff, AZ 86005

Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

3515 W Strawberry Roan, Flagstaff, AZ 86005 

 Experience Elevated Mountain Living: Luxurious 4-Bedroom Home in Flagstaff Ranch Golf Community


4 Beds | 2.5 baths | $1,435,000

OPEN HOUSE Saturday-Sunday, April 13-14, 10 AM - 1 PM

 

Discover Your Dream Home: Luxurious Living in Flagstaff Ranch Golf Community!

Welcome to an unparalleled mountain living experience in Northern Arizona's prestigious Flagstaff Ranch Golf Community. Prepare to be captivated by this custom-built 4-bedroom, 3-bathroom residence, meticulously crafted with timeless elegance and nestled amidst the breathtaking landscapes of Northern Arizona.

 

3515 W Strawberry Roan, Flagstaff, AZ 86005

3515 W Strawberry Roan, Flagstaff, AZ 86005

Step into refined mountain living as you explore this exquisite home, boasting a Kitchen-Centric design that embraces modern luxury. From the expansive great room layout to the impressive 9-foot-plus island and Quartz counters throughout, every detail exudes sophistication and charm.

Featuring a stunning Master suite on the main floor and a versatile loft upstairs, this home offers both comfort and functionality. Outside, professionally landscaped grounds ensure low-maintenance living, perfect for those seeking lock-and-leave convenience.

3515 W Strawberry Roan, Flagstaff, AZ 86005

3515 W Strawberry Roan, Flagstaff, AZ 86005

But the amenities don't end there. As a resident of Flagstaff Ranch, you'll enjoy access to a plethora of recreational activities, including golf, tennis, pickleball, swimming, and a state-of-the-art workout facility. Indulge in the amenities of the Lodge Style CLUB HOUSE, complete with a restaurant, bar, and cafe, all within the gated and patrolled confines of this exclusive community.

Conveniently located near hiking trails and just a short drive from town, this home offers the perfect blend of luxury, convenience, and recreational opportunities. Whether you're a luxury home buyer or a golf enthusiast, this is your opportunity to live the lifestyle you've always dreamed of.

Don't miss out on this incredible opportunity. Contact us today to schedule a viewing of this Flagstaff gem and start living your Northern Arizona dream!

 

3D VIRTUAL TOUR

Photos and more information here: 

www.northernarizonafinehomes.com/property/196249/

 

 

Location

3515 West Strawberry Roan

Car-Dependent

Learn more about Flagstaff Ranch

South on I-17, take exit 333 to Kachina Blvd, turn right and follow Kachina Trail, turn left, follow Canyon Loop on the right. Home is on the right.

 

Nearby Attractions & Recreation

  • Flagstaff Extreme Adventure Course - Adventure Course has (7) different courses and they train you first on the Demo course. It is a very professional place, and all about safety. The second course is Adventure zip lines, which was closed and being checked by the professionals. They also have a Kids Course too.
  • Fort Tuthill County Park - Incredible recreational area with a full campsite to top it off. Adventure climbing, hiking trails and the Frolf course on location make this the perfect weekend getaway with the concert venue within walking distance.

Dining Nearby

Nearby restaurants include Subway. An alternative to traditional fast food where they serve delicious ingredients and mouth-watering flavors of their sandwiches, salad and wrap combination. You can also find Olive Garden Italian Restaurant; they offer great menu choices with many healthy (gluten and vegan) options. Check out the Cafe Rio Mexican Grill and try their authentic Mexican food freshly made every day.

Nearby Schools

If you are looking for a home site in one of the best Flagstaff golf neighborhoods, this is it. Contact 888.446.5602 to arrange for a private showing.

The Flagstaff Ranch Neighborhood

Flagstaff Ranch is one of the exclusive golf communities in Flagstaff, AZ. Play golf on one of the southwest's elite golf courses, swim at one of the three community center pools, dine and enjoy the stunning peak view from the clubhouse, and more.  For neighborhood description, golf membership options and facilities like tennis courts, spa etc check out our Flagstaff Ranch neighborhood page.

 

Search for Luxury Homes in Northern Arizona

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April 1, 2024

2687 N Carefree Cir, Flagstaff, AZ 86004, USA

Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

2687 N Carefree Cir, Flagstaff, AZ 86004

Tranquil Oasis in Continental Country Club: 4-Bedroom Home in Flagstaff, AZ | A Vibrant Escape with Modern Comforts

  4 Beds | 3.25 Baths | $1,300,000

OPEN HOUSE Saturday, April 6, 11 am - 2 pm.

Experience Luxury Living: Your Dream Golf Home in Flagstaff's Continental Country Club!

 

Welcome to your picturesque escape nestled within the prestigious Continental Country Club in the heart of Flagstaff! Prepare to be captivated by this exquisite 4-bedroom, 3-1/4 bathroom residence, offering an unparalleled blend of elegance and comfort.

 

Step into this meticulously remodeled oasis, where every room exudes modern sophistication. From the vibrant orange/rust mums gracing the front planters to the perennial beauties and seasonal apple trees adorning the landscape, every detail has been thoughtfully curated to elevate your living experience.

 

Immerse yourself in the serene ambiance and vibrant surroundings, promising a lifestyle of tranquility and leisure. Whether you're enjoying the lush greenery of the golf course or the stunning fall foliage reminiscent of 2019, this home offers an idyllic retreat for those seeking luxury and relaxation.

 

Don't miss this opportunity to make this exceptional property your own. Contact us today to schedule a private viewing and embark on the journey to your dream home in Flagstaff, AZ!

 

3D VIRTUAL TOUR

Photos and more information here:

www.northernarizonafinehomes.com/property/196232/

 

 

LOCATION

2687 North Carefree Circle

Car-Dependent

Learn more about Flagstaff

Dining Nearby

Nearby restaurants include Nomads Global Lounge, if you are looking for an unusual menu with a great range of flavors this is a great place for you. You can also drop by at Tinderbox Kitchen and enjoy the good food and Flagstaff's authentic vibe. Satchmo’s is also a great place for dinner with a group. If you're looking for crafted BBQ and Cajun cooking it's just a small detour from the main road.

Nearby Schools

      • Thomas M Knoles Elementary School
      • Mount Elden Middle School
      • Coconino High School

Continental Country Club Neighborhood Information 

Residents on HOA enjoy access to club house with pools and tennis and all amenities that Continental Country Club has to offer. This is a quiet and friendly area yet close to Flagstaff's downtown. Visit the Continental Country Club community page for more information about this premier Flagstaff community with an 18-hole course nestled at the foot of the San Francisco Peaks. 

Contact Kelly Broaddus at kelly.broaddus@exprealty.com or call 888-4465602 to see other houses and condominiums for sale in Flagstaff.

Search for Homes in Northern Arizona

Flagstaff AZ Homes for Sale $650,000 - $1M

Flagstaff AZ Homes for Sale Over $1M

Sedona AZ Homes For Sale $650,000 - $1M

Sedona AZ Homes for Sale Over $1M

Williams AZ Homes for Sale $650,000 - $1M

Williams AZ Homes for Sale Over $1M 

 

 

March 28, 2024

Flagstaff AZ Real Estate Market Update- February 2024

Flagstaff AZ Real Estate Market Data Provided by The Broaddus Properties Group Brokered by eXp / by Joselyn Uy

February 2023 Flagstaff Market Report

 

Springtime Surge: Rising Demand in Flagstaff Real Estate Benefits Sellers

 

As the spring homebuying season approaches, there's typically a surge in home sales, and Flagstaff appears to be no exception. The anticipation of warmer weather often brings increased activity to the real estate market as buyers seek to take advantage of more favorable conditions for house hunting and moving. Sellers may also be more inclined to list their properties during this time, hoping to capitalize on the heightened demand. Here's our latest update. 

 

FLAGSTAFF HOME SALES

 

US Existing-Home Sales Vaulted 9.5% in February while Greater Flagstaff's housing market jumped 16.7% from the previous month, according to data provided by the Northern Arizona MLS. With seventy-seven homes sold, this is one of the better January sales in a decade—better than last year with only 69 homes sold. The highest was in 2020, with 108 homes. 

 

Home Sales by Type

February 2024 Flagstaff Home Sales by Type

 

"Additional housing supply is helping to satisfy market demand. Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices," said National Association of Realtors Chief Economist Lawrence Yun.

 

In February 2024, the Broaddus Properties Group, under the brokerage of eXp, aided six clients in selling and locating their desired homes in Flagstaff, with a combined value surpassing $3,500,000.

 

FLAGSTAFF MEDIAN HOME PRICE

Flagstaff Median Home Price & DOM February 2024

"The median list-to-sales ratio for this area is 99.4%." The list-to-sales ratio is the percentage of the list price that the buyer paid for the property. 

The median property price in Flagstaff slipped 3.9%, reaching just $706,250 in February. In comparison to the same month last year, this reflects a notable 9.5% rise from $645,000. The median sale price measures the'middle’ price of homes that sold, meaning that half of the homes sold for a higher price and half sold for less . . . For example, if more lower-priced homes have sold recently, the median sale price would decline (because the “middle” home is now a lower-priced home), even if the value of each individual home is rising.

Homes sold at a slower pace in February, with the median time on the market reaching 114 days. This reflects a 48-day increase compared to the previous year.

DOWNLOAD THE FULL FLAGSTAFF MARKET REPORT HERE

 

FEBRUARY 2024: Flagstaff Market Watch Summary

2023 Flagstaff Real Estate Market Watch Total Home Sales: 77 homes, up 11.6vs. February 2023.

Median Sale Price: $706,250, up 9.5% vs February 2023

Mortgage rates: The 30-year fixed-rate mortgage rate averaged 7.07 percent the week of March 20, according to Bankrate.com

Longest days on market (SF): 969 days This luxury residence in Flagstaff Ranch offers four bedrooms and four baths and features a heated driveway and San Francisco Peaks views from massive pella windows. Golf membership is not included in the price of the home.

CDOM The acronym CDOM (Cumulative Days on Market) is used by the Flagstaff MLS to describe how many days a property has been available for sale. A property must be off the MLS for at least 90 days for the CDOM to restart, even if a different agent lists it. We report the average days on the market for properties sold based on CDOM.

The number of days a home sits on the market can tell us a lot about pricing. A high CDOM is commonly a strong indicator that the home is overpriced. 

 

FLAGSTAFF LUXURY HOME SALES

 The Institute for Luxury Home Marketing has established the luxury benchmark price for single-family homes in Flagstaff at $975,000. The LUXURY BENCHMARK PRICE is the price point that marks the transition from traditional homes to luxury homes.

Flagstaff Luxury Market Report February 2024

  • The Flagstaff single-family luxury market is a Balanced Market with a 20% Sales ratio.
  • Homes sold for a median of 96.5% of list price in February 2024.
  • The most active price band is $1,000,000–$1,199,999, where the sales ratio is 57%.
  • The median luxury sales price for single-family homes is $1,230,000.
  • The median days on market for February 2024 was 122 days, up from 89 in February 2023.

 

HIGHEST-PRICED HOMES SOLD IN FLAGSTAFF IN FEBRUARY 2024

FLAGSTAFF'S PRICIEST HOMES SOLD in February 2024

Photo courtesy of Silverleaf Realty LLC

  • The highest-priced single-family Flagstaff home that sold in February was a $2,737,500 four-bedroom newer built custom luxury home in Forest Highland with dramatic and spectacular views
  • The highest-priced Flagstaff townhome sale was a $757,047 five-bedroom townhome, with breathtaking views of Mt. Elden from multiple decks.
  • The highest-priced Flagstaff condominium sale was a $499,000 rare top 5th-floor one bedroom unit with designed parking in The Views Butler. 

 

THE MOST AFFORDABLE FLAGSTAFF HOMES SOLD in FEBRUARY 2024

Lowest Priced Flagstaff Home in January 2024

Photo courtesy of UR HOME Realty

  • The lowest-priced single-family Flagstaff home that sold in February was a $370,000 two-bedroom home in a corner lot in Mountainaire, a community just a few minutes south of Flagstaff that has hiking, 4X4 trails, a general store, and bar & grill
  • Last month's most affordable townhome sale in Flagstaff was an end-unit with AC and three bedrooms, priced at $445,000. Located in the Christmas Tree neighborhood, this home has tons of storage space, including a finished garage. 
  • The lowest-priced Flagstaff condominium sold was a $245,000 1 bedroom, 1 bathroom condo that comes with a renter and an assigned parking spot at the Arbors. 

 

Flagstaff Home Buyer Advice

 

Hey, future Flagstaff homeowners! Exciting news: more homes are hitting the market, giving you more choices. But hold up; it's not a total buyer's paradise just yet. Patience is key because we're not back to pre-pandemic levels.

So, is finding your dream home easier now? Sort of. There's progress, but there's still a shortage. Cue your local real estate agent; they're your secret weapon in this game.

Bottom line: stay realistic, lean on the experts, and get ready for an adventure! Reach out to our team today at 888.446.5602 and let's find your Flagstaff dream home together!

If you’d like to look at what’s available on the market, you can view the homes that are available in the Northern Arizona MLS right now:

Click here to see all Flagstaff homes for sale

Search Northern Arizona Homes For Sale

Home Buying Tips Our home buyer's blog will help you plan and prepare for your successful home purchase and avoid headaches and surprises that may arise during the process.

Sign up for free to receive our updates about coming soon properties and homes for sale not listed on the MLS. I can set up a customized search so you’ll get notified when new listings that meet your criteria hit the market.

 

 

Flagstaff Home Seller Advice 

 

Considering selling your Flagstaff home? Wondering if now's the time? Absolutely—it's still a seller's market with potential for upward pricing pressure soon!

Here's what's happening:

  • Sellers have a slight advantage.
  • Despite higher rates, home prices remain stable.
  • Low resale inventory and strong buyer demand keep prices steady.
  • Home sales surpass supply, driving the Market Action Index higher.

What does this mean for you?

  • 👉 Your home will attract attention and depending on the pricing, multiple offers.
  • 👉 Sales may be slower initially but are expected to pick up, yielding top dollar in the end.
  • 👉 Collaborate with an agent for competitive pricing and preparation.

As Ramsey Solutions notes, "You can expect to sell fairly quickly for close to your asking price."

 

Bottom line: The Flagstaff market still favors sellers! Ready to seize the opportunity? Connect with a local real estate advisor today! 

If you’re curious about what your home is worth in today’s market, click the image below, then enter your address to instantly calculate your home’s value in today’s market based on recent Flagstaff home sales

 

What is the value of your Flagstaff Home?

 

Home Selling Tips Our blog for Northern Arizona home sellers has tons of tips to help sell your home faster and add thousands of dollars to your bottom line. Check it out

We at the Broaddus Properties Group with eXp Realty know that the only result that ultimately matters is that your home gets sold — and sold for the right amount. Satisfied clients say it all. Check out our 5 Star Reviews. 

 

Got any questions about buying or selling in Flagstaff, or are you ready to kick off the process? Just give us a call or shoot us an email. We look forward to hearing from you! Feel free to reach out at 888.446.5602 or drop me a line at kelly.broaddus@exprealty.com. Cheers!

 

 

You Might Be Interested In:

March 2024 Flagstaff Luxury Real Estate Market Report

 

March 20, 2024

March 2024 Flagstaff Luxury Real Estate Market Report

 

 

The report is a guide to the luxury real estate market in North America and Flagstaff.  It provides an overall analysis with trends and highlights comparative data on the top-residential markets throughout Canada and the United States. 

DOWNLOAD THE LUXURY REPORT

 

  • This month’s report displays the market statistics for North America AND Flagstaff month over month, as well as the 13-month trend.
  • This month we look at the drivers of demand, reviewing the luxury market’s shift in the last four months and its impacts.
  • We understand why there has been an uptick in sales and how it corresponds to the rise of new inventory entering the market.
  • The article investigates the factors that are helping to drive this increased demand: ranging from more competitive mortgage rates to a new demographic called the “HENRYs” (High Earners, Not Yet Rich).
  • Discover, although there is little expectation for location not to stay a primary decision parameter, why it is anticipated that we will see a greater diversity of locations being chosen by the affluent.
  • We address why demand for very specific property types is also expected to dominate the decision process during 2024, with more focus on amenity- and experience-driven properties.
  • We also address why the biggest demands in the luxury real estate market are often characterized by lifestyle, exclusivity, and investment potential. It is also essential to note that demands are highly influenced by regional preferences and market dynamics.

As always, it is important to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities within your local market, as they may differ from the viewpoint at the national level.

 

Take a look at our latest local City Report:

 

NORTHERN AZ LUXURY HOMEOWNER ADVICE

For homeowners looking to sell or buy their luxury home in today’s market we recommend working with a realtor who can provide you with critical knowledge about your local market, maintain a high level of security during the transaction and knows how to leverage technology to provide maximum exposure and assistance.

What is the value of your Flagstaff Home?

 

GET IN TOUCH

It is my responsibility as your REALTOR to ensure that when others around you are lowering their expectations, that this becomes the time for us to switch gears and discover how to leverage the Flagstaff luxury market effectively to achieve your goals. Contact us at kelly.broaddus@exprealty.com or call 888.446.5602.

 

 

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February 2024 Flagstaff Luxury Real Estate Market Report