Published October 5, 2026 in Market Update

Flagstaff has more listings, but contracts have not kept up

The Real Estate Data Aggregator counted 471 homes for sale across Flagstaff's 86001, 86004 and 86005 ZIP codes in the three months ending July 31, 2026. That is up 4.4% from the same period a year ago. More supply means sellers are no longer the only ones with options.

At the same time, pending sales across those same three ZIP codes slipped 0.8% year over year, the Real Estate Data Aggregator shows. Buyers have a little more room to think. Sellers who price too high now have real competition sitting right next to them.

Realtor.com reported that active listings nationally were up 6.3% from a year ago, the fastest pace in at least six months. Flagstaff's 4.4% rise tracks that national trend closely. More homes on the market everywhere means buyers have real alternatives.

What each ZIP code looks like

ZIP 86001 tells a cautious story. The Real Estate Data Aggregator put the median sale price there at $702,750, down 4.9% from a year ago. Pending sales in 86001 fell 11.4% year over year. That is the sharpest drop of the three ZIP codes. Sellers here need to price carefully.

ZIP 86004 is holding up better. The Real Estate Data Aggregator shows the median sale price there at $689,000, up 1.7% from a year ago. Pending sales in 86004 rose 3.4%. Homes there sold in a median of 26 days, the quickest of the three ZIP codes.

ZIP 86005 had the highest median sale price at $779,500, but that is down 5.7% year over year, the Real Estate Data Aggregator shows. Inventory there grew 13.6%. More homes are competing for buyers who are still signing contracts, just at lower prices.

A few bright spots worth knowing

Even with softer prices, well-priced homes are moving quickly. In 86001, the Real Estate Data Aggregator found that 40.6% of homes went under contract within two weeks of listing. That share is up 15.2 points from a year ago. Price it right and buyers show up fast.

In 86005, nearly 1 in 4 homes sold above list price. The Real Estate Data Aggregator put that share at 24.8%, up 5.4 points from a year ago. The sale-to-list ratio there was 99.1%, also up 1.1 points. Buyers are still competing on the right homes.

Mortgage rates are adding pressure

Freddie Mac put the average 30-year fixed rate at 7.28% as of October 1, 2026. That is above 7% for the first time since January 2025, Realtor.com reported. Higher rates slow buying power. That is part of why contracts have not kept up with listings.

Realtor.com also reported that homes under contract nationally were down 4.1% year over year in September 2026. Flagstaff's 0.8% dip in pending sales is mild by comparison. The local market is holding up better than the national picture.

What this means for you

If you own a home in Flagstaff, you have more neighbors listing right now. Buyers have more to look at. A price that is even a little high will sit while a sharp price still moves in 26 to 34 days, depending on the ZIP code.

If you are buying, the extra inventory is real. The Real Estate Data Aggregator counted 478 new listings across the three ZIP codes in the three months ending July 31, 2026, up 4.8% from a year ago. You have more to choose from than you did last summer.