Flagstaff Real Estate Market Update: Q1 2025 Snapshot
| Metric | Q1 2025 | Q4 2024 | Q1 2024 |
|---|---|---|---|
| Median Sales Price | $693,500 | $703,000 | $649,000 |
| Closed Sales | 222 | 309 | 209 |
| Price per Square Foot | $380 | $371 | $377 |
| % of List Price Received | 98.3% | 98.2% | 98.2% |
| % of Sales Above List Price | 16.7% | 19.4% | 18.2% |
As we close out the first quarter of 2025, the Flagstaff real estate market continues to demonstrate resilience and long-term growth. The median sales price registered at $693,500, showing a slight dip from Q4 but maintaining a solid 7% increase year-over-year, signaling healthy appreciation in home values.
Closed sales slowed to 222, consistent with seasonal trends following the year-end surge, but remained higher than Q1 2024—an encouraging sign of sustained buyer interest. Meanwhile, the average price per square foot climbed to $380, the highest in the past year, reinforcing buyer confidence and the continued demand for quality homes.
Sellers still hold a favorable position, with 98.3% of list price received on average and 16.7% of sales closing above asking price. Though slightly down from Q4, these numbers still reflect a competitive market, especially for well-positioned, move-in ready listings.
Looking ahead, the early part of the year may offer buyers better negotiating opportunities as bidding wars ease slightly. That said, desirable properties are still commanding attention and strong offers. For sellers, pricing strategically and preparing homes effectively can still yield strong results, even in a shifting landscape.
Overall, consistent gains in price per square foot and sustained market activity point to Flagstaff’s ongoing strength as a real estate investment destination—with both short-term opportunities and long-term value.