APRIL VOC Market Analysis – Village of Oak Creek
Sedona Arizona 86351
April 2016 Market Reports
Prepared for you by Sheri Sperry – Re/MAX Sedona
YOUR Solutions Realtor®
See Other Market Report Analysis at ReMaxSedona.net
Sedona Arizona 86351 Homes For Sale
APRIL VOC MARKET HOME ANALYSIS – First of all, these are real time charts that tell us “How the market is doing”. See the definition of Market Action Index above. Altos Research uses a complex algorithm to provide the MAI.
VOC, Village of Oak Creek or Big Park also known as Sedona 86351 is the bedroom community of Sedona. It is located 20 minutes from the city center off highway 179. There are two zip codes in Sedona, 86336 and 86351.
These Market Reports will highlight 86351
In this zip code, you will find a majority of single family homes nestled between some red rock formations. Bell Rock, Courthouse Butte, Castle Rock and the back side of Cathedral are the most notable of the formations. You will also find more than a couple of golf courses including an executive 9 hole course. Even though there is some shopping, entertainment, restaurants, and lodging. The majority of the zip code has more affordable housing than the zip code of 86336.
In the past few months, DOM (days on market) had been moving upward. This trend reversed itself in March and continues to trend downward for all quartiles. Compare March Characteristics to April and you can see the DOM has dropped even more since March. The inventory levels continues to rise which is providing a weak push downward on the Market. In Sedona 86351 which is basically areas east of Bell Rock, median prices have not changed much for several months.
Always use the median price to track trends. The median means that half the homes are higher and half are lower. If the highest priced home is well over a million dollars this will drive the average price of homes up substantially. Average price is not a good indicator of how the market is doing.
Check the interactive charts below.
These charts are always current and up-to-date with a Wi-Fi or Internet Connection.
Pricing continues to be relatively stable in April. In the past year, Each quartile has seen little movement in pricing. Areas that affect pricing are DOM and inventory. Buyers and Realtors are waiting for the right homes to come on market and moving those quickly while some homes continue to sit. There will need to be a continued strong downward trend in DOM and number of homes on market before there will be any rise in pricing.
When it comes to Market Action Index, all but the most expensive tier are in the seller range. The two quartiles in the middle are solidly in the seller’s advantage.
Overall in April, as we saw in March, buyers may still find some reasonable areas of selection in the top and bottom quartiles. But it is no means a strong Buyer’s Advantage. Right now, those two quartiles will continue to sell based on who is more determined to negotiate, the seller or the buyer.
One note: The Luxury Market has a low price point of $731,000 for all of Sedona. This price point normally averages closer to $1 million.
The Sedona Luxury Real Estate Professionals which Sheri Sperry is a past-president of defines the Luxury Market as the top 10% of the listings available.
Million dollar bracket has had a decrease of 1 since March
NOTE: In the last 2 months 28 homes have been added to the $400,000 to $574,999 bracket for listings – This is 147% increase in homes for sale!
There was an increase of 23 homes on market overall from the last report in February.
The listings above can change at any given time based on homes being added or subtracted from the Multiple Listing Service (MLS).
Interactive charts below will continue to show current market information
MAI or Market Action Index answers the question “Hows the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller’s advantage. Below 30, conditions give the advantage to the buyer.
ABOUT ME: “Many buyers and sellers are skeptical about salespeople. So am I! But, I am not a typical salesperson. I put myself in your shoes and help you make decisions based on how I would want to proceed if I were you. In other words, what steps would I take and what is right for you? How will this transaction be beneficial for you? How will it help you move forward with your goals? How can I make it as smooth and pleasant as possible? What is in your best interests as we move forward?
Let’s face it, you won’t really know that I am not a typical salesperson until you get to know me. I am confident you will feel at ease and comfortable knowing I can find solutions for you. If you don’t feel that way, please let me know. I want to be the best I can for you. I am YOUR Solutions Realtor.” ~ Sheri Sperry
Disclaimer: Listing information deemed reliable but not guaranteed – SVVAR Broker
A paid subscription service is provided by SellSedona.com and Altos Research to determine “How the active market is doing”. This Market Report is for single family residential only. No other housing segment is being analyzed. Analysis of Market Research and trends are based on opinion, experience, past & current statistics and other information. It is deemed reliable but not guaranteed.