April 2025 Flagstaff Market Report: Balanced, Competitive, and Moving Fast
Hello prospective Flagstaff home buyers and sellers! Let's dive into some key real estate metrics that can give you insight into the current market trends in Flagstaff.
Your Flagstaff Market Update
First up, we have the Months Supply of Inventory, which is sitting at a healthy 4.22. This indicates that there is a balanced market between supply and demand, making it a good time for both buyers and sellers to make their move.
Next, we have the 12-Month Change in Months of Inventory, which has seen a significant increase of +73.66%. While this may seem like a large jump, it is important to note that this could be due to seasonal fluctuations or other external factors. It's always a good idea to consult with a real estate professional to get a better understanding of what this change means for you.
The Median Days Homes are On the Market is a quick 40 days, showing that properties are moving relatively fast in this market. This could be a good sign for sellers looking to make a quick sale, while buyers may need to act fast when they find a property they like.
The Sold to List Price Percentage is a strong 98.9%, indicating that homes are selling very close to their list price. This could be a sign of a competitive market where buyers may need to make strong offers in order to secure a property.
Lastly, the Median Sold Price currently stands at $808,500. This gives you an idea of the average price of homes that are selling in the area. It's always a good idea to compare this to your own budget or the value of your own property if you're looking to sell.
What It Means For You
Overall, these metrics paint a picture of a dynamic and competitive real estate market. Whether you're looking to buy or sell, it's important to stay informed and work with a real estate professional who can help guide you through the process. Happy house hunting!
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