Flagstaff Market Report Update 1/17/12--New Short Sales Since Last Week in Flagstaff's Surrounding Areas

Flagstaff short sales--since last week there were 4 new short sales in the Flagstaff surrounding areas. This is 2 more new short sales as compared to the number that came on the market the previous week. This search is of short sales put on the market since last Tuesday. It includes single family, townhomes, manufactured homes and condos in the surrounding areas of Flagstaff. The average asking price is $136K which is $54K less than last week's list and the average asking price per square foot is $85 which is $52 less than last week's list. It might seem like this number is going down, but we haven't seen the massive numbers here as in other areas of the country. In all of Flagstaff and surrounding areas there are 735 active homes for sale, of those 60 are short sales and 54 are foreclosures. These are the lowest numbers I have seen in a very long time. In 2011, about 61% of sales were regular equity sales in Flagstaff (non-foreclosure, non-short sale, non-HUD), so the majority of our sales have been regular equity sales.

Here is the information on the short sales:

A snapshot of the current market and of the homes that have sold in the last 6 months:

Most of the homes (40.5%) have been on the market more than 120 days. There is a lot of competition in the market right now. To sell your home in the quickest amount of time, you need to be competative with the other listings. That means, price your home according to the market, put your best foot forward by having your home show as well as it can, and hire a competative real estate agent who will market your home effectively, so you can get the exposure you need.

This information was pulled from the Northern Arizona Multiple Listing Service 01/10/12. If you are interested in more information on a Flagstaff short sales or interested in other good deals available on the market right now, I'd be honored to be "the first step into your new home".