RE/MAX Sedona
https://www.remax-sedona-az.com/blog/sedona-az-real-estate-market-report-july-2013.html
Sedona AZ Real Estate Market Report July 2013
Posted By: Tammy Emineth In: SedonaDate: Wed, Aug 28th 2013 7:38 pm
The Sedona real estate market has certainly seen an upturn in home prices and sales over the last year. We’ve had one of the best years in about four around the Sedona real estate market. Currently the median sales price is $351,000 which is up $72,000 or 26% over last year at this time. The average listing price has remained somewhat steady for the month of July and August topping out at around $788,000. Although this is the average listing price the average price of homes sold in Sedona over the last month has been $406,000 which has gone up about 2% over the last two months.
For the month of July we seen an average listing price go from about $788,000 dropping to $778,000 in the middle of July and back up to about $789,000 for the first two weeks of August. The listing price is not always the sales price however. There are currently 748 homes for sale of which 113 are foreclosures and 464 have recently sold. The number of foreclosures and short sales have dropped dramatically over the last couple of months which is a great sign for the improvement and economic stability of the real estate market in Sedona.
In the past the peak median sales price was between 2006 and 2007 topping out at about $645,000. The lowest we have seen was in 2011 where the lowest median sales price over the last five years was about $220,000. We are now almost up to the $400,000 mark as the median sales price.
The number of sales have also increased. The lowest point in the last 13 years was in 2008 with a number of sales just under 50 per week. Our highest number of sales was actually in 2010 over the entire 13 years which came in at over 200 sales per week.
The average listing price over the last month and a half is gone from about $788,000 dropping at the end of July to $780,000, backup the first week of August to $789,000 and remained fairly steady over the last couple of weeks. The number of listings on the market have actually increased over the last two weeks with 405 listings currently on the market.
The average listing price for a one bedroom home in Sedona is $145,000. A two bedroom is $385,000, a three-bedroom is $694,000 and the average listing price for a four bedroom home is $1,151,000. While this is the average listing price it by no means is the only price. There are several 1 to 4 bedroom homes that range anywhere from $200,000-$500,000 in a variety of styles, sizes and conditions.
For more information on the Sedona real estate market call our offices today. We would be happy to offer information, tips, and details on pricing structures on sold homes in your neighborhood, or specific homes for sale.