By Abigail Kessler | AZ Daily Sun
Home prices in Flagstaff are no longer rising, though they’re still high — similar to those seen last year. Local real estate agents say it’s a little easier to buy a home in the area right now, though rising interest rates have meant additional pressure on the city’s already low inventory.
A market review from the Northern Arizona Association of Realtors (NAAR) reported that the median sales price of residential homes in northern Arizona was $528,500 in June, compared to a median price of $612,000 in Flagstaff. It also reported 261 new listings and 2.7 months of supply in Flagstaff’s inventory, both up from the previous June (which had 212 new listings and 1.6 months supply), when Flagstaff’s median sales price was $620,000.