Why Choose RE/MAX Sedona?
We have compiled the real estate numbers for Sedona's 3rd Quarter! We had 121 sales which makes it our BEST 3rd Quarter we have had in a very long time. It made up for our under average sales that we had in the 2nd quarter. Our total number of sales for 2016 so far is 313 and last year at this time we had 308 sales. So we are pretty much staying steady.
As you can see from our graphs on the left, most of the sales have occurred in the $300k to $500k price range. That range is also showing the largest increase in price per square foot and the lowest days on market.
Fewer and fewer homes are selling under $300k because the inventory is almost gone, with just 5 homes currently available. The luxury market of homes over $1M is showing a very slight improvement, but still has a very long way to go. There have only been 15 luxury sales this year, but inventory is down to 52 luxury homes compared to 70 at the end of last quarter.
Our average sales price continues to climb at a moderate rate. Our overall inventory is down with only 250 single family homes available in Sedona. This is driving our Average Days on Market down to only 163 days! Economists say a healthy, balanced market has about 6 months of inventory. If our inventory keeps dropping, we will be heading into a full blown SELLER'S MARKET.
Over the last couple of weeks, we have seen some slowing due to the upcoming elections as people are holding off buying or selling until they know who will be President. After the election, things should start heating up in Sedona/Verde Valley.
Call our office at (928) 282-4166. Our office is open seven days a week ... and we answer our phones.