Flagstaff Market Report 3/13/12 New In Town Foreclosures Since Last Week

Flagstaff foreclosures--since last week there were no new foreclosures in Flagstaff's city limits. This is 3 less new foreclosures in town since last week. This search is of foreclosures put on the market since last Tuesday. It includes single family, town homes, 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 last week was $237K which was $3K more than the average asking price the previous week, the average asking price per square foot this week was $122 which was $3 more than last week's list.

In all of Flagstaff and surrounding areas there are 792 active homes for sale, of those 61 are short sales and 52 are foreclosures.

Flagstaff is surrounded by National Forest, so we have a limited supply of homes, which keeps prices higher than the National average and we are about a 25% second home market, which helps values as well. In 2011, about 61% of sales were regular equity sales (non-foreclosure, non-short sale, non-HUD), so most of our sales have been regular equity sales.