Flagstaff AZ Real Estate Market Data Provided by The Kelly Broaddus Real Estate Advisors Team / by Joselyn Uy

 June 2019 Flagstaff Market Report


June Flagstaff Single Family Home Price Up 19%


Half the year is over. A big thanks to all of our wonderful clients for an amazing start to 2019! We can’t wait to help more people achieve their real estate goals in the second half of the year! If you know anyone looking to buy, sell, or rent, we would love the opportunity to help them. Here are the latest figures for Flagstaff.


US Existing Home Sales saw a slight decline in June. Housing sales in the greater Flagstaff region also weakened. One hundred single-family units sold which are down 33% from the same month last year. Flagstaff's 2nd quarter of 2019 & first half of 2019 single-family home sales are also down by 11% and 17% respectively.


Lawrence Yun, NAR's chief economist says the nation is in the midst of a housing shortage and much more inventory is needed. “Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices,” he said.


Our team is having the best home sales ever since Kelly moved to Flagstaff in 2013. With the addition of more agents on the team, we had a very productive 1st half selling over $21M of Flagstaff and nearby area real estate. 41 properties in 6 months! In the month of June, the team helped 14 sellers and buyers achieve their real estate goals. 

June 2019 Flagstaff SFR Sales


New price records set for the month of June, the 2nd quarter and for the first half of the year.  


June 2019 Home Price and DOM Real Estate Stats

June 2019 Flagstaff Market Watch Summary

2019 Flagstaff Real Estate Market Watch Total Home Sales -   100 homes (SF),  down 33% vs June 2018. 

Median Home Price -  $460,000 (SF),  up 3% vs June 2018

Mortgage rates  - A 30 year fixed rate mortgage with 5% down and very good credit is now at an average of 3.75% 

Longest days on market (SF): 781 days. Pine Canyon contemporary custom luxury home listed under $1.3M in early 2017

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 has to be off the MLS for at least 90 days for the CDOM to restart, even if it is listed by a different agent. We report the average days on 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's Priciest Homes SOLD in JUNE 2019

  • $2,275,000  - Located on the 11th hole of Pine Canyon's golf course, this 5 bedroom luxury custom home boast luxury finishes, multiple covered patios, golf, and water views
  • $499,900  -  Last month's priciest townhome is a 3 bedroom townhome with San Francisco Peak views constructed in 2018 in the Switzer Mesa area 
  • $775,000 -  3 bedroom unit located near Club amenities and offers dramatic views of the practice range, greens, lake, and Clubhouse in gated Pine Canyon golf community

The most AFFORDABLE  Flagstaff Homes Sold in JUNE 2019


Flagstaff Home Buyer Advice 

Summer 2019 Homebuying Guide

Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home! Here are 4 powerful reasons why:

1. AFFORDABILITY The National Association of Realtors’ (NAR) latest Affordability Index report revealed that homes are MORE affordable throughout the country today than they were a year ago

2. LOW MORTGAGE RATES Over the past 30 years, the average mortgage rate in the United States has been 8.27%, and rates even peaked as high as 18% in the 1980s. Today, at 3.75%, the rate is considerably lower than the historical 30-year average. Although experts predict it may climb into the low 4% range in the near future, that’s still remarkably lower than our running average, suggesting a great time to get more for your money over the life of your loan.

Our advice: Lock in the low rates while you can. Here's what you need to know about the mortgage process.

3. HOME APPRECIATION Home values are forecasted to appreciate, at a more normal rate. Homeownership has always been recognized as a sensational way to build long-term family wealth. 

4. RISING INVENTORY  Inventory levels are rising in time for the summer selling season.

  • HIGHER INVENTORY OF AFFORDABLE HOMES (under $500K) - now at 4+ months supply = means more homes to choose from. Check out the latest list of Flagstaff homes for sale under $300K
  • INVENTORY is up in the $300K- $500K price range.  There are 140+ houses available in the $300K to $400,000 range and 60+ houses available to purchase in the $400K to $450K range.


Flagstaff Home Seller Advice 

With prices appreciating and low-interest rates available, it’s a perfect time to buy or sell a home. 

Are you selling a luxury home and it has been on the market for quite some time? It may be time to lower the price or offer the buyer credits. Flagstaff currently has a double-digit oversupply of homes above $500K. The 11 homes in the $1M to $1,099,999 price range count as over 66 months supply! A balanced market has 6 months. 

Talk to your realtor about your options if you want to get your home sold now.  This summer, expect more affluent buyers from the Valley to look for custom homes in the gated golf communities of Flagstaff or one of the beautiful homes with acreage near Highway 180. 

Summer 2019 Home Selling Guide


If you’re thinking about selling now, let’s get started. From hiring the right real estate agent to handing over the keys, here is your step by step guide to the home selling process


We are your Flagstaff home experts! Contact 928.606.6749 or email kelly.broaddus@exprealty.com if you are looking for a Northern Arizona realtor to help you buy/sell your Flagstaff/Sedona real estate and the surrounding areas. 

We at The Kelly Broaddus Team 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.



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