Here is the information you are looking for about what is happening in Flagstaff housing in 2015.  Inside Flagstaff, the average price paid for a “home” in the past 12 months was $319,400 and the median price was $298,000. This compares to the 2014 calendar year statistics of an average of $308,500 and the median price for a “home” was $291,900. This is for all types of homes.

More accurately, a single family home has an average sales price of $382,500 this past 12 months as opposed to a our all-time high, which was the 2006 average of $452,200. The average townhouse is at $273,200 and a condo is at $163,600. It takes an average of 117 days to sell a home in the past 12 months. Again, this is for the city of Flagstaff for the past 12 months. Rural markets near Flagstaff are slightly different, so please contact me for accurate information in rural areas.

When reading the above information, keep in mind that I average information over a one year period, not quarterly and not monthly.  Why do I average over a 12 month period?  Because we are an extremely seasonal market and a small market at that!  A comparison of a one month period to that month of the year before may show an increase or decrease of activity, but a minor fluctuation in closed sales would throw the data off to indicate a problem in the market.  Also, sales in Northern Arizona are typically slow during the colder months and heat up nicely during spring and summer.

When looked at on a monthly basis, we are seeing a steady increase in values in townhouses, and in single family homes. Less so for condominiums. Condominium sales continue to remain sluggish due to the difficulty in financing them and most sales are still cash.  This will change in 2016 as FHA has announced changes to their condo guidelines.  More on that later!

I will be updating you soon with the 2015 year end market update.  Stay tuned for that in early January, 2016!

Gary Nelson is a lifelong resident of Flagstaff, Arizona and is the Delegated Associate Broker at Realty Executives of Flagstaff.  Find your own part of Flagstaff at