What you need to know about our real estate market in Flagstaff these days.
I’m in the trenches every day paying attention to the statistics and what’s happening in our market. So today I’m sharing my Flagstaff real estate market report.
Nationally, we know that we have very low inventory and high demand. When the pandemic hit in 2020, it seems like everyone in the Phoenix metro area who had to cancel their travel plans bought a house in Northern Arizona instead. Demand in Flagstaff increased like crazy that year, and we’ve never recovered from it. That means we don’t have enough inventory on the market to meet the current demand.
With so many people working remotely, now everyone wants to be in Flagstaff because we have mountains, trees, wonderful schools, an excellent university, and great hospital care. So all of a sudden, we are on the radar of the whole Southwest as a fantastic place to live.
I’m going to be honest: It’s an especially challenging time for buyers. Every time a home is listed, it gets multiple offers, most homes sell for over asking price, and buyers are being asked to waive a bunch of contingencies. It’s not like the old days where you could just go out and buy a home. Right now, you will compete with a slew of other people. For sellers, I know this will sound a little like Realtor speak, but there truly has never been a better time to sell your home.
If you’re a buyer or seller and have any questions, just call, email, or message me. I’d be glad to talk about your situation, your home’s value, your neighborhood, how we can get you a home in this market, or anything else you want to discuss.