The Flagstaff Housing Market has been extremely active over the past 3 months and truthfully this full year.

Presently our biggest issue and yes even concern is that we have so many more buyers than we have available homes on the market in Flagstaff.

There were some figures that stood out in July for all types of homes.
In Flagstaff, we sold 25.8% more homes for the month of July,  but had -35.1% fewer homes on the market compared to a year ago.
Year to date thru July 31st we have sold 19.1% more homes than last year.

A little more detail thru August 20th, year to date:

For all types of home sales (Single Family, Condo, Townhome, and Manufactured).

We have sold 19.4% more homes
We had -2.9% fewer homes come to the market
Our Median price is up 8.8% to $420,000

For just Single-Family Homes

We sold 22.9% more homes thru August 20th.
We had -5.9% fewer homes come to the market
Our Median Price is up 10.3% to $480,000

But WAIT, there is more to those numbers than meets the eye!!

When looking at the Single-Family homes in our 3 Gated Golf Communities (Flagstaff Ranch, Forest Highlands, and Pine Canyon)
We sold 113% more homes. 
We had 2.8% more homes come to the market.
The Median Price has climbed 20.1% to $985,000.

So in Reality for the Flagstaff Single Home Market, without the gated communities in the figures
We have sold 17.3% more homes
We had -9.1% fewer homes come to the market
Our Median price is up 6.0% to $440,000

Continental Country Club             2 homes Elk Run                                         3 homes Cheshire                                       0 homes Coconino Estates                         1 home Boulder Pointe                              0 homes University Heights                        1 home Ponderosa Trails                          4 homes This highlights the lack of homes we have on the market today to supply our Buyer’s needs.

What is to come?

Great question and one I am not sure anyone has an answer to.
When taking out the gated communities, our median price is not rising that fast,--- so far?
But our inventory, or Absorption Rate as the experts in the Real Estate field like to use is just at 2.9 month’s supply of homes through the end of July.
That means it would take only 2.9 months to sell every home on the market today!
The experts would like to see 6 months supply to have a balanced market.

Bottom line,

We are in a market that is very favorable to a Seller and tough on the Buyer. As long as interest rates stay low, which they are expected to through the end of the year at least, the Buyers will continue to come to the table. We are now looking for more homes to come to the market to supply those buyers. Am sure this will bring up a lot of questions, so please never hesitate to reach out to me. If you have an interest in either Selling or Buying, I am here to help make the best choice for you and your family.

About the Author:

Who Knew. . .that Flagstaff was named the world’s first International Dark Sky City in 2001? The designation is awarded to towns and cities “with exceptional commitment to and success in implementing the ideals of dark sky preservation and/or restoration, and their promotion through quality outdoor lighting.” That’s why you see light fixtures that aim light downward and/or are shielded on the sides. Lightbulbs are incandescent and compact fluorescent, yellow in color to minimize glare and sky glow. Look up and you’ll see the stars like you’ve never seen them before! On a clear night, you’ll want to head up to the Lowell Observatory for telescope viewings.

Dark-sky protection in Flagstaff goes back to 1958, when the city enacted the world’s first law to protect night skies, banning advertising and searchlights. There are two major observatories: Lowell Observatory, and the United States Naval Observatory (USNO). Between the two of them, there are more than $125 million in telescope assets in the area. Keeping the skies dark is necessary for astronomical research.

In 2018, Livability.com ranked Flagstaff as the Number 1 dark-sky community that takes stargazing seriously. It is said that even in the city, Flagstaff residents can see the Milky Way overhead as long as they’re away from streetlights. Flagstaff has always valued its environment, and that doesn’t limit itself to the surrounding canyons, deserts, and mountains.

It comes as no surprise that Northern Arizona is frequently listed as one of the top places in the world for stargazing. With clear skies and low light pollution, you can enjoy endless stargazing almost any time of year. Flagstaff sees on average over 280 sunny days per year, meaning dark cloudless nights for stargazing. Head to the Lowell Observatory, Buffalo Park, or take a scenic drive along the Sunset-Wupatki loop drive for the some of the best stargazing in the country. During the summer months, Walnut Canyon offers free stargazing hikes. Also be on the lookout for the annual Festival of Science, featuring more stargazing parties and events than you could possibly imagine.

Are you looking for ways to take your outdoor adventures to the next level? Check out these smartphone applications that may be just what you’re looking for.

14ers.com

This is the smartphone version of the website known and loved by many. It allows user to download images and maps to their phone so that they can be accessed without a cell phone connection. If you’re a hiker, having this app on your phone is a must.

MTN Project

With this app, users put the power of many rock climbing guides into their pocket. Find routes searchable by location and read user review to know what to expect. This app also lets users keep track of which routes they’ve already climbed. Sort routes by discipline, difficulty, star ranking and more.

MTB Project

No cell required, completely free. This is the mountain biking counterpart to the MTN Project. You’ll always know your exact position on the maps and find new trails, all accessible offline.

SkyGuide

Want to add some stargazing to your camping trips? Just hold it overhead to automatically find stars, constellations, planets, satellites and more. With the cinematic time controls you can even see what the sky looked like the moment you were born!

 PeakVisor

This app uses augmented reality to allow users to identify distant mountains and elevations. It’s great to use at the top of a mountain so that your know what mountains you’re admiring from afar. It puts 3D maps in the palm of your hand, and it’s free.

AllTrails

This is a great app for finding trails in a given area. You’ll have access to 100,000+ trail maps, along with user reviews, images, and trail condition updates. It turns your phone into a GPS tracker. You can record details of your hike and share your adventures with friends and family.

Strava

Users can track running and cycling with GPS, join Challenges, share photos from your activities and follow friends. Track your performance over time, and even set up custom segments along trails to track performance over time in a highly tailored way. It’s a great motivator if you need an extra push in your training.

Realty Executives of Flagstaff

We've been serving Flagstaff and its surrounding areas for over 43 years.

We’re the experts on the area, from the heart of town, to the top of the peaks.

Home sales in Flagstaff for the first 6 months of the year have been far stronger than expected.

Note that before I start, you will see all these stats in the following chart.

I pulled statistics on July 12th for all home types, Single Family, Townhome, Condos and Manufacture in the General Flagstaff area. For all categories, for the first 6 months plus a few days, we have sold 13.9% more homes this year than the prior year.  The Median Price is up 8.1% to $413,459.  During this same time-period, we have had -2.1% fewer homes come to the market and the Days on Markets has stayed stable at 107 days.  The Absorption Rate, the number of months it would take to sell all our homes under the current home sales trend is 3.44 months, that is down 1.2 months from last year. The Experts in the Real Estate field feel that 6 months is a nice healthy point to be, any less and it is a Sellers’ Market, any more and a Buyer’s Market.

One last stat I dug up, 22.04% of the homes sold this year were cash sales, compared to 19.76% back in 2010, so this figure though climbing slightly is not out of the norm for Flagstaff.

Using information from ShowingTime, the system we are using in Flagstaff as well as a lot of the nation to schedule showings, we see that we are on the same track as the rest of the nation on showings.

So taking these out of the mix for single family homes, we have a slightly lower median price for Single Family Homes in Flagstaff, at $450,000.

In Summary;

We are in interesting times which we are all aware of. What we did not expect was what has happened in the housing market. 
Will this trend continue? Great question.
As long as the mortgage rates stay at the current level, which they are expected to through the year, and inventory stays at historic lows, which they are expected to, then we may see this trend through the rest of the year.
There are of course a few things that could sway the remainder of the year, 
Covid-19 and the coming November Elections.
But today, 
If you are a Seller or thinking of Selling, you should be reaching out to me, this may be a great opportunity and we can discuss if this is the right time for you and your family.
If you are a Buyer, not all is lost, there are homes coming to the market daily, you need a strong local lender and a full time Real Estate Agent helping you find the right home, so again, reach out to me.

We did not cover my Native Wildflower garden, but it is doing very well, nothing blooming or even close to that stage though. Will cover more about that next month. If you missed my blog about the Wildflowers, click on the link above and that will take you to that newsletter.

In the meantime,
There is lots to talk about, so please never hesitate to reach out, besides Real Estate, we can talk about our upcoming Arizona Trail 6-day hike coming in October, my Wildflowers, or most any subject you would like.
Am looking forward hearing from you.

Jeff

About the Author:

Looking for free fun activities around Flagstaff this summer?

We’ve got you covered! 

Here is the list, with a more detailed description below:

• First Friday Art Walks
• Picture Canyon Tours
• Disc Golf
• Geocaching
• Self-guided Walk This Talk Historic Route 66 Tour
• Movies on the Square
• Summer Concerts in the Park
• Self-guided Haunted Flagstaff Tour
• Flagstaff Selfie Trail
• Solar System Walk at Lowell Observatory
• Self-guided Flagstaff Public Art Tour
• Flagstaff Brewery Trail
• Lunar Landmarks Trail

First Friday Art Walk: Each first Friday of the month, art galleries and businesses in historic Downtown Flagstaff open their doors from 6-9pm with special art exhibitions, performances. Live music, treats and more. It’s Flagstaff’s monthly street party – the ArtWalk is a night both locals and out-of-towners attend and enjoy.  

Picture Canyon: The Picture Canyon Preserve is a natural and cultural amenity located in northeast Flagstaff. This easy walk through the riparian landscape includes significant Northern Sinagua petroglyphs, and the opportunity to learn about the ecology, geology, and archaeology of the area. It also includes a section of the Arizona Trail, an 800+ mile trail that connects Mexico and Utah.  

Disc Golf: There are numerous disc golf courses around town, accessible for free. If you’d like to make this more than a passing hobby, The Flagstaff Disc Golf Club is an organization that hosts weekly leagues, annual tournaments and beginner clinics. Their website also includes courses and maps that can are available for free.  

Geocaching: Flagstaff is a partner in the Historic Arizona Route 66 Geocaching Project, offering visitors a new way to explore the Mother Road while traveling across the state. There are multiple caches to be found in Flagstaff. Each cache includes a log book and historic information about where the cache is hidden. 

Self-guided Walk This Talk Historic Route 66 Tour: Also known as “The Mother Road”, Route 66 continues to bisect Flagstaff today. This self-guided tour begins at the Historic Train Station, passing by classic drive-in motels and Flagstaff Landmarks of old. Find a map here, and use your mobile phone to dial and listen to a recorded history at each of the ten designated locations on the tour.  Recorded tour: 928-218-2926  

Movies on the Square:  Each summer the Flagstaff Downtown Business Alliance presents a FREE family friendly evening on Heritage Square – Flagstaff’s downtown living room. For the month of June, this year will be transformed to a Drive-In movie series. Every Saturday evening for the month of June, it will be located in the parking lot on the corner of Leroux Street and Cherry Avenue in Downtown Flagstaff. There are limited parking spaces available, so visit the website to reserve a spot. The parking lot will be open at 7pm, and the movie will begin at sunset (around 8pm). Boxed dinners and movie treats will be available for purchase! (more info)

Summer Concerts in the Park: The Summer Concert Series runs Friday evenings all summer long. They are held at Heritage Square, and are free, family-friendly, and showcase Flagstaff’s best local artists. For a schedule and other information, click here. 

Self-Guided Haunted Flagstaff Tour: With more than a century of haunted history and ghostly legends about bank robbers, ladies of the night, eccentric hotel guests and unfortunate lovers, Flagstaff has earned the reputation as one of Arizona’s most haunted cities. Free self-guided map available at the Flagstaff Visitor Center or by download here. 

Flagstaff Selfie Trail: No need to search for the best place to stand for your selfie with Flagstaff’s iconic scenery, the Flagstaff Selfie Trail will point you to the perfect spot. The Flagstaff CVB has provided a map with directions to one-of-a-kind selfie spots throughout the city and placed ground medallions at each location. Experience the neon of Route 66, the architecture of historic downtown and the seasonal favorites of the surrounding area. #Flagstaffselfie to share with friends! Download a printable pdf here. 

Solar System Walk at Lowell Observatory: Walk a scale distance model of the solar system and learn fun facts along the way. For more information or to plan your visit, click here.  

Self-Guided Flagstaff Public Art Tour: Flagstaff has an extensive Public Art program coordinated through the Beautification and Public Art Commission at the City of Flagstaff. More than forty pieces of public art represent the heritage of the area. Each piece tells a story, some inspiring, some meditative and others that intend to leave a legacy for future generations. Download the Flagstaff Public Art Map for information on each piece and where to find them. 

Flagstaff Brewery Trail: This is your self-guided beer tasting adventure. Flagstaff’s nine local breweries have something for everyone’s craft brew palate, from distinctive IPAs and light-hearted Sessions to Limited-edition brews and Kolsch-style ales. Flagstaff is being recognized as a Leading Craft Beer City. Grab a passport here or at participating breweries, or the Flagstaff Visitor Center. 

Lunar Legacy/ Landmarks Trail: Did you know every astronaut who walked on the Moon trained in Flagstaff? Now you can walk in their footsteps. Learn about Flagstaff’s impact on our lunar explorations with this fun passport and map. Visit Apollo Astronaut Training Sites and Attractions celebrating Flagstaff’s scientific role in the Apollo Moon Missions. 

Now get exploring!

(Please check ahead of time for any COVID-related closures, cancellations, or protective measures)