Flag home prices rise in March as home listings drop

The median sales price of a Flagstaff-area single-family home in January 2017 was about $359,000 similar to 2018. / File photo / Arizona Daily Sun

By Taylor Mahoney | Arizona Daily Star

Flagstaff’s housing market has consistently seen high prices for single-family homes over the years, and the coronavirus didn’t stop the median price of a home from rising 6%.

The 6%, or $25,000, increase compared to March 2019 leaves the median cost of a home in Flagstaff at $425,000.

Despite the economic turmoil for recently furloughed workers, people are still buying homes in Flagstaff as the city has a unique market that is easier to navigate for people buying a second home. However, March saw Flagstaff’s already low supply of homes listed for sale drop even further, according to Melinda Morfin, president of the Northern Arizona Association of Realtors.

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