Looking back at the wild ride of the home-buying frenzy during the past three years, skeptics had warned prices could not keep going up, demand would have to level off, and certainly we should all be wary of the “bubble,” that, when popped, would cause home values to come crashing down. But despite an increase in homes for sale and the 10th interest rate hike in 14 months, the Flagstaff real estate market continues to sizzle. “We thought last summer was wild and the truth is, this summer is … [Read more...] about Summer Residential Real Estate Market Going Strong in the Sweet Spot
Flagstaff housing market
Highest Priced Home Sale in Flagstaff History
This is a year of monumental firsts in real estate and fourth quarter thus far has been no exception. On Oct. 20, a 7,420-square-foot home with five bedrooms and four-and-a-half baths sold for $5.7 million in Pine Canyon. This is the highest priced home sold in the history of Flagstaff. Prior to this sale, the highest priced home sold for $4.4 million in July 2020. Incredible to consider a $1.3 million, or 29%, difference between the first and second place most expensive homes, especially … [Read more...] about Highest Priced Home Sale in Flagstaff History
Record Setting Summer Real Estate Market Turns to Fall Without Cooling
In these unprecedented times, the real estate market in Flagstaff is at an all-time high from just about every metric we can measure. The 2021 summer season was sizzling, with the average price per square foot of a single-family (detached) home crossing the threshold from $292 per square foot to $307 per square foot from March to April of this year. This was a historic first foray into the $300s and it has continued to climb each month since. In August, the price per square foot soared to $336 … [Read more...] about Record Setting Summer Real Estate Market Turns to Fall Without Cooling
