Yes, this is the dead of winter and the slowest time for real estate sales. However, the interesting news is that the number of residential sales in Flagstaff weren’t as low as they have been the past few years. In fact, with 59 sales, this was the busiest January since 2008. In Jan ’09, we had only 34 sales! Maybe the lack of unusually large snowstorms this winter has helped keep people looking.
Other than that, inventory is still low, which is good news if you’re thinking of selling. Compared to the previous month, pending sales are up quite a bit, the number of distressed sales (short sales and foreclosures) notched up, and pending new construction inched up as we get closer to the building season.
The trailing median prices also inched up again, rebounding from December’s slight drop. This makes it 5 out of 6 months that this figure has increased.