Flagstaff, AZ housing market

In Flagstaff this month, the story is the gap between what sellers are asking and what homes are actually worth. The median list price is around eight hundred eleven thousand dollars, while the typical home value sits at about six hundred seventy-five thousand dollars, and that value has slipped roughly 0.3 percent over the past year. Sellers are aiming high in a market that is not rewarding it. Buyers have room to work. There are about 410 homes for sale, with roughly 156 new listings coming on, so shoppers have real choices. And homes are taking about 58 days to sell, which is enough time for a buyer to negotiate instead of rushing. Nearly 17 percent of listings have already cut their price, a sign that some sellers overshot and had to adjust. If you are selling in Flagstaff right now, price it close to where homes are actually trading, not where you wish they were. The sellers sitting for two months and then cutting are the ones who aimed for that eight hundred eleven thousand dollars median.