The hottest housing market ZIP code in Arizona isn’t inside the Phoenix metro. Rather, it’s a couple of hours north in Flagstaff’s 86005.That’s according to the Business Journals’ hottest housing markets rankings, which is based on third-quarter listing and sales data from Intercontinental Exchange Inc. The rankings are intended to emphasize sales and pricing momentum in U.S. ZIP codes using a weighted formula that includes quarterly and year-over-year data.Average home sale prices in Flagstaff’s 86005 ZIP code have spiked 173% since 2019, besting all other ZIPs in the Grand Canyon State. That momentum has continued into 2024: the average sale price in 86005 jumped 29% between the second and third quarter of 2024 — more than any other Arizona ZIP during that span.Blake Cain, a global real estate advisor with Russ Lyons | Sotheby’s International Realty, said that t …
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