According to the latest stats, our Flagstaff market is a haven for sellers.


As we move further into 2021, it’s time to look back at the 2020 year-end stats from our Flagstaff real estate market and analyze what they mean for the rest of this year. 


In December, the number of total home sales rose 23.2% from 138 to 170 compared to December 2019. The number of single-family homes rose 17.7% from 96 to 113. This is very good news for home sellers. Essentially, it means that your home will sell for 23.2% more now than it would have a year ago. What’s fueling this rise? There are a few factors to consider.


The bottom line is that there’s no better time than now to put your home on the market.


The first is the COVID pandemic. When everything started last March, we thought things could go either way in our market, but it went straight up. Many people realized they didn’t have to live in a certain area to do their jobs. The Flagstaff area is one of the best places in the country to live, and people started moving here, which drove prices up. Record-low interest rates are another reason home sales are surging.


We expect this rise in home sales to continue, but some obstacles could hinder this trend. The record-low interest rates I mentioned, for example, could increase. In fact, Freddie Mac predicts that there will be a spike in interest rates. That will put pressure on home prices and, possibly, home sales. 


The bottom line is that there’s no better time than now to put your home on the market. With homes’ average days on market so low, though (40 days), you need to be ready for lots of showings and offers after you list your property. I suggest hiring an experienced real estate professional to be by your side because our market can be difficult to navigate. 


My team and I would love to help you no matter what your real estate needs are, whether you’re listing soon or need a thorough market analysis. Just call or email us today. We look forward to hearing from you.