Flagstaff Real Estate Market Update
By Jacki Tait, CLHMS, Finding Your Place in Flagstaff, Arizona
(Realty ONE Group Mountain Desert)
Every month, we do a recap video of the Flagstaff real estate market. Here are the statistics for the Flagstaff real estate market for the month of February 2023: Some items to note:Our median price point year over year is up almost 19%. If you remember, early 2022 was when the market was still red hot and buyers were being outbid by crazy amounts. The record I had in early 2022 was a buyer who got beat out from a home that was listed at $525,000. My buyer came in 3rd place with a bid that $118,000 over asking price. Yikes.Here we are in early 2023, and you have to remember that these median sales price statistics are on the closed prices, not list prices.What has changed is the list to sold price ratio. In February 2022, list-to-sold ratio was at 101%. One year later, that ratio has...