September VOC Market Analysis – Village of Oak Creek
Sedona Arizona 86351
September 2016 Market Reports
Prepared for you by Sheri Sperry – Re/MAX Sedona
YOUR Solutions Realtor®
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Sedona Arizona 86351 Homes For Sale
September 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 August VOC 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.
The Market Action Index or MAI is up .3 to 28.1 Though, the top quartile is near a 24 MAI level which indicates a strong buyers market. Currently the other 3 quartiles are at 32 or higher, with the lower/third quartile skyrocketing at least 7 points since last month! This is in the seller advantage range for MAI. The 3rd quartile ($499,000) is at the highest point all year.
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.
Market Action Index Is Moving Higher But So Are Days On Market for VOC Homes For Sale
Pricing continues to be relatively stable and continues this trend in from August. 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. This has not changed in months.
Inventory continues to tighten and days-on-market (DOM) is increasing in the 2 top and upper quartiles.
Supply & Demand
Homes sales continue exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. The market’s inventory is down 4 homes since last month (2 lower quartiles). As the market moves into the Fall selling season, there may be an upward push on pricing. Price per square foot has been trending upward in the top two quartiles.
The statement below has not changed…
Buyers may continue to find some reasonable areas of selection in the top quartile. Any reasonably priced home in the other three quartiles is not lasting on the market. As a buyer, look to homes that have become stale on market to increase your odds at a equitable negotiation. This continues to be the norm for the market in this area. As activity increases during Autumn, focus on pricing and DOM to see what happens.
One note: The Luxury Market has a low price point of $975,000 for VOC. However, the Luxury Market is measured using 86336, and 86351 zip codes. The price point is at $1,650,000 for the top 10% of the market.
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.
Village of Oak Creek
Characteristics per Quartile
Million dollar bracket – No Change
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.