Flagstaff housing market sees homes linger longer while most sell at listing price
Updated
Updated · flagstaffbusinessnews.com · May 8
Flagstaff housing market sees homes linger longer while most sell at listing price
7 articles · Updated · flagstaffbusinessnews.com · May 8
Realtor Lisa Paffrath said inventory has fallen below 300 homes from 800-1,000 before the pandemic, while April's median single-family home price reached $705,000.
She described a stabilised market that favours neither buyers nor sellers, but said high interest rates and scarce supply still keep affordability out of reach for many first-time buyers.
About 100 listed homes cost more than $1m, and Paffrath said slow sales also hurt contractors, furniture retailers and other local businesses tied to home purchases and renovations.
As Flagstaff prices soar, is a neighboring town with a $200,000 discount the smarter long-term investment for buyers?
With 0% down VA loans now covering four-unit properties, could veterans become Flagstaff's next real estate investors?
Will Arizona's new zoning laws solve Flagstaff's housing crisis or create new conflicts over neighborhood character?