Flagstaff Market Report 2/28/12 New Foreclosures Since Last Week in Surrounding Areas

Real Estate Agent with Realty One Group Mountain Desert 928-600-2765

Flagstaff foreclosures--since last week there were 3 new foreclosures in Flagstaff's surrounding areas. That's 1 more new foreclosure 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 $109K which is $29K more than previous week's list and the average asking price per square foot this week is $61, which is $13 less than the previous week's list. In all of Flagstaff and surrounding areas there are 733 active homes for sale, of those 55 are short sales and 45 are foreclosures, these numbers are higher than last week, but still very low compared to "normal" inventory. 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 the snapshot of this week's foreclosure list:

Address City Map Bd Bth SqFt LotSz Year   Date $/SqFt DOM Orig Price List Price    
418 N Apache St Winslow   3 1.50 1,363 0.090ac 1943   02/24/12 14.67 4 19,999 19,999    
17160 Poco Pl Munds Park   2 3 1,250 6000sf 1992   02/23/12 78.40 5 98,000 98,000    
445 W Grant Ave Williams   3 2.50 2,332   2007   02/24/12 90.01 4 209,900 209,900    
Listing Count 3 Averages 1,648           61.03  4   109,300   109,300  


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

Flagstaff Market Reports

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 02/28/12. 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".

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Flagstaff Real EstateFlagstaff Real EstateFor more information on buying and selling homes in Flagstaff, Arizona I would be happy to make your transition easier and more efficient!


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Sylvie Stuart

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