Flagstaff Market Report Update 2/2/12--New Foreclosures Since Last Week in Flagstaff's Surrounding Areas

Flagstaff foreclosures--since last week there were 8 new foreclosures in Flagstaff's surrounding areas. That's 3 more new foreclosures since last week. This search is of foreclosures put on the market since last Tuesday. It includes single family, townhomes, manufactured homes and condos in the city of Flagstaff. These numbers may seem like they are going down, but Flagstaff hasn't been hit as hard as other areas, so this has been pretty consistent. The average asking price this week is $264K which is $98K more than last week's list and the average asking price per square foot this week is $116, which is $2 more than last week's list. In all of Flagstaff and surrounding areas there are 733 active homes for sale, of those 65 are short sales and 55 are foreclosures, these numbers are a little higher than the previous weeks have been. Flagstaff is surrounded by National Forest, which insulates our prices some because there is a limit to the supply of homes here, we are also about a 25% second home market, which helps keep our prices higher than the National average. In 2011, almost 61% of homes sold were regular equity sales (non-foreclosure, non-short sale), so most of our sales are regular equity sales.

Here is information on the new Foreclosures:

Address City Map Bd Bth SqFt LotSz Year Date $/SqFt DOM Orig Price List Price 11390 Crisp Hill Cir Flagstaff 4 3 1,990 1.380ac 1989 01/26/12 130.10 7 258,900 258,900 10150 Stagecoach Rd Flagstaff 5 2 4,412 2.390ac 1997 01/25/12 18.81 8 83,000 83,000 7301 Slayton Ranch Rd Flagstaff 4 2.50 2,425 2.400ac 1990 01/30/12 105.15 3 255,000 255,000 1305 S Cougar Munds Park 1 1 790 0.345ac 1997 01/26/12 207.59 7 164,000 164,000 17145 S Deer Run Munds Park 3 1.50 1,192 0.130ac 1974 01/30/12 142.53 3 169,900 169,900 1844 Bessie Kidd Best (AKA 725) Flagstaff 4 4.50 4,507 0.730ac 2001 01/27/12 217.46 6 980,100 980,100 373 NW Park Rd Parks 3 2 1,736 3.260ac 1986 01/31/12 40.27 2 69,900 69,900 526 W Franklin Ave Williams 3 2 1,984 1975 01/26/12 65.47 8 129,900 129,900 Listing Count 8 Averages 115.92 6 263,838 263,838 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 02/02/12. If you are interested in more information on a Flagstaff foreclosures or interested in other good deals available on themarket right now, I'd be honored to be "your first step into your new home".