AZ: Flagstaff Home Prices Fell Sharply in July

July is usually one of the peak months for home sales in the greater Flagstaff area. But not this year.

The median sales price for a detached, single family home hit the $245,000 mark in July, according to information compiled by the Northern Arizona Association of Realtors Multiple Listing Service. Last year, the median home price for the month of July was $297,000.

The figure marks only the second time the monthly median home price has been below the $250,000 mark since the decline in the housing market started about four years ago, said Stephen Brighton with Century 21 Flagstaff Realty.

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