The City of Flagstaff has published a quarterly update on progress toward the goals in its 10-year housing plan as the Northern Arizona Association of Realtors reports residential home prices in the city fell from March to April of this year.
Both the city and the state realtors associations listed a near-balanced housing market based on their months' supply of inventory on the market in April.
City housing plan
The city has updated its website showing progress on the goals outlined in its 10-year housing plan, with a graphic now showing the impacts between Feb. 15, 2022, and March 31, 2025.
The 10-year plan was first adopted in early 2022, with an overall goal of halving Flagstaff鈥檚 then-current level of affordable housing need over the following decade.
The city's plan is to do so by creating or preserving a total of 7,976 housing units by 2031, including 10% dedicated to affordable housing.
So far, a total of 2,098 units have been created or preserved, according to the most recent update. Of those, 273 are affordable and 1,825 are market rate units (with a total of 481 committed to being affordable but not included in the progress meter).
This is almost a quarter of the total goal of 7,178 market rate units and about 34% toward the goal for affordable units (798).
The city is now reporting that 553 residents have been impacted by its efforts of a goal of at least 6,000. The figure is measured based on the total number of households receiving subsidy.
In September 2024, the city website had listed that 485 residents had been impacted since the plan鈥檚 adoption, with 1,396 market rate and 175 affordable housing units created or preserved.
The city plans to publish an implementation plan for future work and update on its efforts so far each fiscal year. The next is expected to be presented to city council in June.
More about the city鈥檚 10-year housing plan is available at聽.
Home prices
The April 2025 Market review from the Northern Arizona Association of Realtors (NAAR) lists the median sales price of a residential home in Flagstaff as $587,500. This represents a 16.6% decrease from March鈥檚 median home price ($704,500) and a 0.8% decrease from April 2024.
Homes in the city received 97.7% of the list price and spent a median of 64 days on the market.
The Arizona Housing Report for April -- which is published monthly by Arizona Realtors -- also reports a lower median sales price statewide than in March. Arizona鈥檚 median sales price was $439,250 in April -- which is 1.4% lower than in April 2024.
NAAR reported Flagstaff as having 5.1 months' supply of inventory, a number that is 39.1% higher than the previous month and 79.5% higher than in April 2024. The supply approaches the six months the Arizona Association of Realtors says is considered a balanced housing market. The state is reported as having 5.83 months' supply of inventory at 25.2% higher than the prior year.
Fuel prices
AAA reports Arizona鈥檚 average regular gas price as $3.386 as of May 15, compared to a national average of $3.192. Coconino County鈥檚 average price for the day is $3.195.
Arizona鈥檚 average is slightly higher than the day before and about nine cents higher than the previous week. Statewide, the average price for regular gas was $3.374 a month before and $3.932 a year ago.
Flagstaff鈥檚 current average price for regular gas as of May 15 was also $3.195.
This is slightly lower than the average for the previous day and week (which were both around $3.20). The city had an average gas price of $3.231 a month before and of $3.726 the previous year.