With a mix of modern, traditional and historical styles, along with surprise elements like a dual grand staircase, an extraordinary art collection and breathtaking mountain views, the Flagstaff Symphony Home Tour returned to rave reviews after a pause through the pandemic for its 12th event. Organizers say a renovated home from the ‘70s charmed guests and demonstrated how to live large in smaller spaces. “It was the smallest home on the tour and people loved it,” said Flagstaff Symphony … [Read more...] about Symphony Home Tour Opens the Door to Tastefully Appointed Sophistication in All Sizes
Lori Anna Harrison
Summer Residential Real Estate Market Going Strong in the Sweet Spot
Looking back at the wild ride of the home-buying frenzy during the past three years, skeptics had warned prices could not keep going up, demand would have to level off, and certainly we should all be wary of the “bubble,” that, when popped, would cause home values to come crashing down. But despite an increase in homes for sale and the 10th interest rate hike in 14 months, the Flagstaff real estate market continues to sizzle. “We thought last summer was wild and the truth is, this summer is … [Read more...] about Summer Residential Real Estate Market Going Strong in the Sweet Spot
Flagstaff Experiencing Pent-Up Demand for Housing
There has been a flurry of real estate activity in our market and the nice weather has further facilitated getting folks out to open houses and writing contracts. We are now back to multiple offers on certain homes, depending on price point and condition. However, what has been a bit perplexing as of late is the historically low absorption rate. For the month of April 2023, there were only 44 single-family homes sold in Flagstaff and for the months January through April 2023, there were only 138 … [Read more...] about Flagstaff Experiencing Pent-Up Demand for Housing
Spring Cleaning, Decluttering to Add Value
What is staggering this spring and unique about Flagstaff is our housing market compared to the rest of the country. Forbes Advisor reported that “[national] home sales prices fell year-over-year in February – the first time in nearly 11 years.” However, locally, we did not see sales prices decrease, we have actually seen price per square foot increase in first quarter year-over-year. In fact, our average sales price rose from $844,769 in March 2022 to $898,900 in March 2023, which is a 6.4% … [Read more...] about Spring Cleaning, Decluttering to Add Value
Mountain Modern Commands More Money
Design trends come and go and just like fashion, they evolve and change over time. What can be so much fun about watching the evolution of style is to see what takes off and makes a mark versus what pops up and then quickly fades away. Anyone who visits Arizona and doesn’t know our area very well will soon learn that the style of architecture and interior design for the trifecta is very diverse – the trifecta consisting of Scottsdale, Sedona and Flagstaff. Let’s take a look at three of the … [Read more...] about Mountain Modern Commands More Money
Super Bowl Brings Super-Sized Real Estate Sales
It’s no secret that the Super Bowl will be held in Arizona this month at State Farm Stadium in Glendale. The last time the Grand Canyon State hosted the Super Bowl was 2015, prior to that, it was 2008, and the first time was 1996. Beyond the showstopping halftime entertainment and the memorable commercials, what makes headlines – to numbers geeks like me – is the profound financial impact the Super Bowl has on the local economy. Direct visitor spending will total between $128 million to $259 … [Read more...] about Super Bowl Brings Super-Sized Real Estate Sales
A Tale of Two Markets
This time last year, it would’ve been difficult to predict the twists and turns our real estate market would take throughout 2022 – the first half and the second half each telling different stories of the same market. The first quarter of the year experienced steady increases in average price, price per square foot and median price. February 2022 witnessed an historic average price for a single-family home in Flagstaff weighing in just shy of a million dollars at $982,134. By second quarter, we … [Read more...] about A Tale of Two Markets
Being Thankful This Holiday Season
As we look toward the holidays and reflect back to take inventory on the year gone by, there is plenty to be thankful for, especially for those of us fortunate enough to call Flagstaff home. While the macro real estate market has made national headlines for nearly the last six months because of the roller coaster caused by increasing interest rates, our micro market here in Northern Arizona has held steady – and normalization is a good look for us. Some data points that might be of … [Read more...] about Being Thankful This Holiday Season
Big Ideas in Small, Affordable, Futuristic Packages
Smaller spaces are gaining bigger attention these days. There are many reasons for this shift, including being conscious of sustainability, leaving a lighter carbon footprint, and probably top of the list is simply the affordability factor. Currently, with inflation swelling around us and the minimum wage heading to $16.80 per hour in January, many are looking for ways to stretch the dollar and make it reach further. Good design doesn’t have to cost more and smaller spaces can be … [Read more...] about Big Ideas in Small, Affordable, Futuristic Packages
Home Prices Still Higher Than A Year Ago
What a difference a year makes. The season has changed to autumn and as the leaves begin to turn, our real estate market is seeing some signs of cooling temperatures as well. Yet, even with multiple increases in interest rates and greater inventory, home prices are still higher, even if not by much, than this time last year. As of September 2022, the average single-family home price in Flagstaff is $734,092 and was $729,044 September 2021, which is only $5,048 more than last year. However, at … [Read more...] about Home Prices Still Higher Than A Year Ago