Flagstaff AZ Real Estate Market Data Provided by The Broaddus Properties Group Brokered by eXp / by Ella Vilchez

 

Real Estate Market Snapshot: Insights on Inventory, Pending Sales, and Pricing Trends in Flagstaff, AZ 

As December blankets Flagstaff in a festive glow, the real estate market reflects the season’s quieter rhythm. With fewer buyers in action, the inventory offers plenty of opportunities for those seeking a new home, especially in the mid-range price brackets. Meanwhile, Flagstaff buzzes with holiday cheer, highlighted by the annual Winter Wonderland & Tree Lighting at Heritage Square. Whether you're cozying up by the fire or exploring the town’s vibrant community events, this season offers the perfect opportunity to dream about your next move to Northern Arizona.

 

FLAGSTAFF HOME SALES

In November, existing-home sales saw an increase of 4.8%, while the Greater Flagstaff housing market recorded a 0.98% increase in sales from the previous month, according to data from the Northern Arizona MLS. In December 2024, 102 homes were sold—higher than the 67 sold in December 2023 but still significantly below the decade-high of 158 homes sold in December 2020. This marks a continuation of the downward trend in December sales over the past four years. Despite this, December 2024 sales surpass some previous lows, such as the 84 homes sold in 2014, though still below the average seen during the last decade.

The December 2024 sales figures illustrate evolving dynamics in the market. Although 2024 experienced a modest improvement over the record-low sales of 2023, it still falls short of the higher levels seen in earlier years, like the peak in 2020. These fluctuations likely reflect broader market trends, economic conditions, and shifts in buyer and seller behavior. As we look ahead to 2025, it will be crucial to monitor whether this upward momentum continues or if other factors will influence the market further.

 

Flagstaff Home Sales by Type

*NAMLS Data as of 01/24/2025. Excludes Parks, Williams, & Other Areas

The December Flagstaff home sales data reveals significant growth across various property types from 2023 to 2024. Single-family homes saw a notable 40.4% increase in sales, while townhomes experienced a 33.3% growth. Condos demonstrated exceptional growth at 260%, reflecting heightened interest or demand in this category. Meanwhile, the "Others" category showed a modest increase of 11.1%. This overall upward trend indicates a strong and diversified housing market in Flagstaff, with condos standing out as the fastest-growing segment.

 

 

 "Home sales during the winter are typically softer than the spring and summer, but momentum is rising with sales climbing year-over-year for three straight months. Consumers clearly understand the long-term benefits of homeownership. Job and wage gains, along with increased inventory, are positively impacting the market."

said National Association of Realtors Chief Economist Lawrence Yun

 

Quarterly Flagstaff Home Sales: December 2023 vs 2024

 

*NAMLS Data as of 01/24/2025. Excludes Parks, Williams, & Other Areas

The 2024 quarterly sales data for Flagstaff reveals dynamic shifts compared to 2023. Q1 showed impressive growth with a 37.2% increase, driven by strong early-year activity. Q2 experienced a slight decline of 7.2%, potentially due to seasonal market adjustments. However, the market rebounded in Q3 with a modest 6.1% growth, reflecting steady demand through the summer months. Q4 closed the year on a high note with a 20.2% increase, underscoring strong buyer activity during the holiday season. Overall, the data highlights a resilient and adaptable market with positive trends emerging across most quarters.

In December 2024, the Broaddus Properties Group, under the brokerage of eXp, aided five clients in selling and locating their desired homes in Flagstaff, with a combined value surpassing $3,264,116.

 

 

Flagstaff Median Home Price

 

Over the past six months, the real estate market has seen a median sold price of $745,000, with most homes selling in 68 days on average. Lower-priced homes in the $0K - $200K range sold the fastest, highlighting strong demand in that price bracket.

 

In the last 30 days, the median sold price increased to $782,325, but homes took longer to sell, with an average of 97 days on the market (DOM). This longer DOM could signal a slight dip in buyer demand, likely influenced by changing interest rates, the economy, or seasonal shifts.

 

Quick Facts:

• Homes are selling close to the listing price: The typical list-to-sale ratio is 99.3%, meaning buyers are paying nearly the asking price.
• Inventory is limited: Based on recent sales, it would take about 1.9 months to sell all available homes if no new properties were listed.

DOWNLOAD THE FULL FLAGSTAFF MARKET REPORT HERE

 

DECEMBER 2024: Flagstaff Market Watch Summary

Total Home Sales: 102 homes, up to 52.24% vs. December 2023.

Median Sale Price: $782,325, up to 8.96% vs December 2023

Mortgage rates: Mortgage rates rose again this week, with 30-year fixed-rate loans averaging 7.19 percent, according to Bankrate’s latest lender survey. Meanwhile, the U.S. Labor Department reported that December inflation had edged up to 2.9 percent.

Longest days on market (SF): 767 days This comfortable 905/888 sqft plan is the ideal combination of comfort and style in this generously sized 1-bedr, 1-bath condo. This condo is located close to downtown and NAU

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.

• The Flagstaff single-family luxury market is a Seller's Market with a 36% Sales ratio.
• Homes sold for a median of  97.62% of list price in December 2024.
• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 120%.
• The median luxury sales price for single-family homes is $1,310,000.
• The median days on market for December 2024 was 118 days, up from 116 in December 2023.

 

FLAGSTAFF'S PRICIEST HOMES SOLD in DECEMBER 2024

Single-Family Home: This month’s top-selling single-family home is an 4-bed, 5-bath 3,686 sqft residence, perfectly situated on a premium golf course lot at the end of a private cul-de-sac with breathtaking views of the picturesque par-5 4th hole. Nestled in the serene beauty of the Pine Canyon community.

Photo courtesy of Courtesy of Real Broker AZ, LLC.

 

THE MOST AFFORDABLE FLAGSTAFF HOMES SOLD in DECEMBER 2024

Take a look at last month’s lowest-priced Flagstaff home sales:

Photo courtesy of HomeSmart

Single-Family: Charming 2-bed 1-bath mobile home, features a spacious layout on a generous lot, ideal for families and pets. Its prime location offers easy access to NAU and public transportation.

 

Flagstaff Home Buyer Advice

Ready to buy a home this year? Start by improving your credit, saving for a down payment, getting pre-approved, and refining your wish list. Let’s connect for expert guidance every step of the way.

 

Reach out today at 888.446.5602, and we’ll help guide you through the process to ensure you're in the best position for your next home purchase.

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

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Home Seller Advice for Flagstaff/Northern AZ

More homeowners are recognizing the need for an agent in today’s complex market, leading to a record-low number of FSBOs. Pricing, staging, repairs, paperwork, and negotiations are tough without a professional.

 

Let’s connect to see if we’re a good fit to handle it all.

Contact us today at 888.446.5602 or email kelly.broaddus@exprealty.com.

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

 

 

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. 

 

Have questions about buying or selling in Flagstaff, or ready to get started? We're here to help! Call us at 888.446.5602 or email kelly.broaddus@exprealty.com. We look forward to hearing from you!

 

 

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