March VOC Market Home Analysis
Village of Oak Creek
Sedona Arizona 86351
March 2016 Market Reports
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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
MARCH VOC MARKET HOMW 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.
The March VOC market homes has seen the DOM (days on market) moving upward for the past few months. This trend reversed itself in March. DOM has dropped about 3.7% since February. As expected during this time of year, the inventory levels are starting to move upward. which is providing a weak push upward on the Market. In Sedona 86351 which is basically areas east of Bell Rock, median prices are showing a slight increase after holding the line for several months. Always use the median price to track trends. The median means that half the homes are higher and half are lower. In the current chart, the highest priced home is well over a million dollars from last month driving the average price of homes up substantially. This is a good example to show the difference between what the median and average mean.
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 has turned around for all but the top tier. Pricing continues to be relatively stable. The MAI for the top Quartile was moving down sharply but has tapered off. It continues to move downward but at a much slower pace. Inventory is down slightly and so are prices which figures into the slower downward trend for the Market Action Index.
For the other 3 quartiles, inventory is down just like the top quartile but the lower quartiles are showing a slight rise in pricing but the average DOM are mixed in the quartiles. The bottom quartile is showing an increase in DOM. Homes in this bracket tend to sell faster which is still holding true. But the DOM is inching toward the other brackets.
Overall, 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 30% increase in listings
$400,000 to $574,999 returned 32 VOC homes for sale (+13 or 40%)
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.