Oh! How I've been waiting for fall!
I've been trying to will fall into existence with sweater-wearing, pumpkin spice everything, and I may (or may not) have a Christmas tree with fall flowers on it. This time of year is my favorite because we get the opportunity to watch the leaves change, feel the temperature dip, and pull our boots out of storage.
Fall Flagstaff Real Estate
Last fall in Flagstaff, 521 homes were sold with an average sold price of $581,156. How can we project what this fall will look like for us? Well, let's take a look at last summer. Last summer, 693 homes were sold with an average sold price of $579.150. This summer, we concluded with 561 homes sold at an average sold price of $638,744. However, don't be fooled. In summer 2020, there were 633 new listings, 56 more homes than 2021. So while the number of home sales has dropped by 19%, we have seen a 9.3% increase in sale prices. This is great news for sellers. The current demand for homes is outweighing the supply of homes on the market. Even in these first few days of fall, we have seen very few homes come onto the market.
On Wednesday, I attended Academy Mortgage's BBQ and spoke with another Realtor.
"This week has been such a bummer, right? Have you seen that house on Weston yet?"
"Yeah, how'd you know?!"
"Everyone has been there! It's one of the only listings that popped up this week!"
If you're looking to sell, now is a great time (and I'm not just saying that). When you're one of few listings on the market and agents have lists of buyers they're trying to help, you're bound to get some attention.
If you're looking to buy, don't be discouraged! While the market for buyers is competitive, you'll do great with a strong negotiator on your side. There's a lot of give-and-take when it comes to a real estate transaction, but trust your gut! You'll know what makes the most sense for you.
What do you think of the numbers? Do you think we'll see a similar fall trend like 2020, or will we see something new with our market