Realty Executives of Flagstaff

Serving Flagstaff, Arizona since 1977

Realty Executives of Flagstaff


May Flowers! What's Blooming In The Market?

(Published on - 6/2/2022 6:52:49 PM)

How often have you opened a newspaper, or logged into your favorite news website, and seen story after story about the real estate market? It has certainly been getting a lot of coverage. Most news outlets report on national and general state news. It's good to have an idea of the big picture for real estate in Arizona but it is the local scene that impacts you most. Here is a very brief year-over-year summary for April for the Flagstaff real estate market. 

  • Absorption Rate (number of months of housing inventory): 2022 - 1.58 months      2021- 1.4 months
  • Average List Price: 2022 - $851,587   2021 - $680,733
  • Median List Price:  2022 - $617,400   2021 - $524,900
  • Average Sale Price:  2022 - $744,186   2021 - $554,883
  • Median Sale Price: 2022 - $705,000   2021 - $490,000
  • Average Days on the Market -  2022- 60    2021 - 61
  • Median Days on the Market -   2022 - 36    2021 - 44

What does all of this mean? In a nutshell, Flagstaff is still a sellers' market. Prices have increased since April of 2021 and we are not seeing those numbers coming down. However, the early May numbers are showing a slight pause with houses staying on the market for a couple of weeks before receiving offers. This is very typical of May with graduations and end of the school year. Another interesting observation (not reflected above) is that while houses are selling for over the list price this number is now under $20,000. Earlier this year we were seeing properties selling for $50,000-100,000 over the list price with multiple offers. Great for sellers but very hard for buyers. Predictions are for a strong sellers' market as we move into the third quarter of 2022. Buyers can look forward to more properties on the market and perhaps more time to view them.

If you’re thinking of moving, give me a call. I can give you a good idea of what your property will sell for in today’s market. In addition, if you’re targeting a neighborhood you’d like to get into, I can let you know what properties are selling for in that area and the current opportunities available.

If you ever have questions about the local market, please don’t hesitate to contact me.



Kimberlie Geile-Gonzalez, Realtor, GRI, SRES, rCRMS, ABR
Realty Executives of Flagstaff
15 E Cherry Ave.
Flagstaff, AZ 86001
Office: 928-773-9300
Direct: 928-699-9750






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