Flagstaff, AZ housing market

In Flagstaff, home values have flatlined, and nearly one in four sellers just cut their asking price. If you are thinking about selling in the next year, that gap between hope and reality matters a lot to you. The typical Flagstaff home is now worth about six hundred sixty-five thousand dollars, up just 0.2 percent over the past year. That is not a market moving up. It is a market standing still. Meanwhile there are about 434 homes for sale, and they are sitting. The median time on market is seventy-four days. Here is the telling part. The median asking price is seven hundred ninety-nine thousand dollars, well above what the typical home is actually worth. Sellers are aiming high, the market is saying no, and roughly a quarter of listings have already taken a price cut. Only about 120 new listings came on this month, so buyers have plenty to compare and no reason to overpay. So price to the market you have, not the market you remember, because an overpriced Flagstaff home sits for months and then cuts anyway. To see where your home stands, get a free home value estimate at Home Value Pros dot com.