Big Park (VOC) Village of Oak Creek 86351 ~ February Market Report ~ 2017

Sheri Sperry February 17, 2017

How’s The Market Doing?

Homes For-Sale

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

Sedona Arizona 86351

February 2017 ~ REAL TIME Market Report& Analysis

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Big Park VOC January Market Report- Golf Course Homes

Homes On Golf Course – Returned 5 Results – Sedona Arizona 86351  (-1)


Learn More About Big Park – VOC –  Sedona AZ 86351

Courtesy of Sheri Sperry 

YOUR Solutions REALTOR®

Coldwell Banker Residential Brokerage

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 2/13/17
Big Park (VOC) Market Report

 

Big Park VOC February Market Report

Feb ’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

 

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


Big Park VOC February 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 7 VOC homes for sale (currently) priced at $1 million and over – (+1)

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$575,000 to $999,999 returned 30 VOC homes for sale – No change

$400,000 to $574,999 returned 25 VOC homes for sale  (+1

$399,000 and under returned 28 VOC homes for sale  (+3)

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 from 574,888 to 544,000, a drop of $30,888. The Quartile brackets are mixed in this area and can move up or down based on Inventory and Days on Market.

Interactive chart below will continue to show current market information

 

Large Chart


 

Inventory

Inventory continues to be low. There are 4 more  homes on market currently than there were in January. As Spring approaches the downward trend may start to reverse. 

 

 Interactive chart below will continue to show current market information

Large Chart


 

Days On Market (DoM)

The properties in VOC – Big Park have been on the market for an average of 228 DoM, down from 240 DoM.  Less inventory causes the DOM to go up. The reason the DoM has dropped is because of the dramatic shift in the bottom tier (median price of $347,500). In the last three weeks, this tier has dropped from 146 DoM to 86 DoM (down 8.5 weeks), while the others tiers have all risen. This may indicate that homes that have gone stale in the bottom tier are leaving the market. 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 is continues to show a strong seller market in all but the top quartile.  The entire index has risen 2.4 points since December and  (1.3 in November). You can see by the chart that current trends are mixed but the top quartile is the only one in the buyer area (below an index of 30). 

Interactive charts below will continue to show current market information

Large Chart

 

Bottom Line

Overall the real estate market for Village of Oak Creek has very low inventory.  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.


 

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.


To learn more about these market reports please visit:

The Discover SellSedona.com or visit Market Stats on SellSedona.com.
Reports are generated weekly on Mondays

*Please Note: As new listings hit the market and homes close or fall off, the number of Sedona homes for sale will fluctuate daily based on the Multiple Listing Service (MLS) detail. The local MLS for this area is Sedona Verde Valley Association of Realtors (SVVAR)

 


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

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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.

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