Village of Oak Creek
Sedona Arizona 86351
February 2016 Market Reports
Check out the most current monthly reports at REMAXSEDONA.NET
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Prepared for you by Sheri Sperry – YOUR Solutions Realtor®
Listing ID 508896 Offered by ReMax Sedona
Sedona Arizona 86351 Homes For Sale
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.
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 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 Village of Oak Creek & Big Park market has seen the DOM (days on market) moving upward for the past few months. This trend continues in February. However, the inventory levels are still at a low level which is providing a neutral push on the Market. In Sedona 86351 which is basically areas east of Bell Rock, prices have been holding the line for several months.
Check the interactive charts below. These charts are always current and up-to-date with a Wi-Fi or Internet Connection.
The Market Action Index is showing a strong downward trend, but pricing has been relatively stable. If the inventory continues to grow relative to demand, there is likely to be downward pressure on pricing. The top Quartile spiked upward but is back at the level it was at in the beginning of January. It is right around 30 but trending downward currently. The bottom quartile has taken a steep downward trend since the beginning of February. It is still above 30 but appears that it will continue downward into March giving buyers a better opportunity to make a deal. We need to monitor this area.
Though the trend for the bottom quartile shows inventory decreasing with stable pricing, the average days on market are moving up faster than the other quartiles and this is a good indicator of why the MAI has dropped so fast.
Overall, buyers may 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 new 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.
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.
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.