VOC – Big Park AZ 86351 – May Market Report – 2017

Sheri Sperry June 8, 2017

How’s The Market Doing?

Homes For-Sale

VOC – Village of Oak Creek – Big Park – Pine Valley

Sedona Arizona 86351

May 2017 ~ REAL TIME Market Report& Analysis

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voc big park may market report

Homes On Golf Course – Returned 9 Results – Sedona Arizona 86351 – (-2)


Learn More About Big Park – VOC –  Sedona AZ 86351

Courtesy of Sheri Sperry 

YOUR Solutions REALTOR®

Coldwell Banker Residential Brokerage

Big Park VOC April Market Report Sheri Sperry Coldwell Banker Sedona Realtor

 Check out the most current monthly reports in the Sedona Verde Valley at

SEDONAMARKETREPORTS.com

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Sedona Arizona 86351 Homes For-Sale

Report 5/29/17
Big Park (VOC) Market Report

 

Big Park VOC May Market Report

May ’17 Big Park 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. People choose this side of town because there is less traffic, good hiking trails, and a buyer can get more home for the same amount of money as Sedona 86336. It is also closer to the SR 179 for those who travel a lot.

These 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.

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.


Characteristics By Quartile

 

May ’17 – VOC Sedona AZ 86351 Homes For-Sale


Big Park VOC May Market Report


SEARCH FOR ALL HOMES FOR SALE IN VILLAGE OF OAK CREEK

 

Select Links Below To See Sedona Single Family Homes In Each Price Range 

 

There are 9 VOC homes for sale (currently) priced at $1 million and over – (+2)

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$575,000 to $999,999 returned 24 VOC homes for sale – (-5)

$400,000 to $574,999 returned 24 VOC homes for sale  (-7

$399,000 and under returned 29 VOC homes for sale  (+4)

The listings above can change at any given time based on homes being added or subtracted from the Multiple Listing Service (MLS).

Supply and Demand – (VOC) Sedona 86351

How the Market is Doing 


Median Price 

The Median Price has decreased $450, to $569,450. Virtually – no change! The top bracket has had a sharp increase because 2 luxury homes were added to the market. The other 3 quartiles have all had a decrease in the median price.

Interactive chart below will continue to show current market information

 

Large Chart


 

Inventory

Inventory though low, is showing signs of upward movement. The market is up 6 homes versus 2 weeks ago. This is a normal seasonal shift. If you compare May of last year to May of this year, the inventory is still way down. 

 

 Interactive chart below will continue to show current market information

Large Chart


 

Days On Market (DoM)

The properties in VOC – Big Park and Pine Valley have been on the market for an average of 181 DoM, which continues to show a decrease. Overall there is a little over 6 month supply of homes on market. The brackets are split. The premium segment is up around a 52 days. The bottom segment is down to 2.8 months supply. 

Generally, the homes that are priced right will go into contract much faster causing the DOM to rise on homes that have been on the market and gone stale.

Interactive chart below will continue to show current market information

 

Large Chart


Buyer or Seller Market? (MAI)

The Market Action Index – The MAI continues has moved into the seller range at 30.2.  However, all quartiles are in the seller zone or right at 30 MAI. There have been only 2 months where the top quartile moved into the seller zone.  There is such low inventory in the 86336 zip (Chapel area, Uptown and West Sedona that buyers are moving into the VOC area to purchase a home. This has also created lower inventory and a downward shift in DoM.These conditions drive up the demand creating a seller zone overall for 86351. 

Interactive charts below will continue to show current market information

Large Chart

 

Bottom Line

The Market Action Index which had been trending lower for several weeks while prices have remained relatively stable has now moved back into the seller zone. …just barely. The market is a push right now . Overall the real estate market for Village of Oak Creek continues to have very low inventory. The inventory will have to continue to rise, to trigger a pricing weakness.

 A buyer may be able to find some homes that the seller is willing to negotiate.  The reason some homes are stale is because the seller is not willing to drop the price of the home. Keep that in mind when negotiating. 

Luxury Market

One note: The Luxury Market has a price point of $900,000 for the top 10%. This figure is based on the last 6 month’s of sold listings for all of Sedona. The top 10% of active listings   (which is different from sold listings) is at $950,000 for the Village. – This just gives you an idea of how the active market compares to the sold market.

The Sedona Luxury Real Estate Professionals which Sheri Sperry is a past-president uses the definition above for defining a luxury listing. The Luxury Market is measured using 86336, and 86351 zip codes.


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