Flagstaff Market Report 04/04/12 New Short Sales Since Last Week in Surrounding Areas

Flagstaff short sales--since last week there were no new short sales in the Flagstaff surrounding areas. This is the same number of new short sales as compared to the number that came on the market last week. This search is of short sales put on the market since last Tuesday. It includes single family, town homes, manufactured homes and condos in the surrounding areas of Flagstaff.

The average asking price 4 weeks ago was $355K which was $218K more than the previous week's list and the average asking price per square foot 3 weeks ago was $166 which was $66 more than the previous 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 779 active homes for sale, of those 51 are short sales and 46 are foreclosures.

There are more homes on the market since last week, however, our inventory has been drastically lower than normal numbers. 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 3 week ago's short sale:

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

Most of the homes (47%) 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.

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".

This information was pulled from the Northern Arizona Multiple Listing Service 04/03/12.