Nov ’16 VOC Market Analysis – Village of Oak Creek – Big Park
Sedona Arizona 86351
November 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
NOV ’16 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 November 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.
Check the interactive charts below.
These charts are always current and up-to-date with a Wi-Fi or Internet Connection.
SEDONA 86351 – Village of Oak Creek / Big Park ~ October ’16 REAL ESTATE MARKET ANALYSIS
Buyer or Seller Market? (MAI)
The Market Action Index – The MAI is showing a strong upward push in all quartiles. The entire index has risen .7 since October. The top quartile is still in the Buyers Zone but is at 28. The top quartile is only 2 points off from moving into the Seller Zone.
Inventory has been relatively steady but trending down overall since July. There are 5 less homes on the Multiple Listing Service than the last time it was checked in October.
Days On Market (DOM)
The properties in VOC – Big Park have been on the market for an average of 192 days. The top quartile has dropped DOM by 29 days. The overall DOM has dropped by 6 days and the only tier to rise has been the 2nd quartile by 44 days.
Overall the real estate market for village of Oak Creek is pretty stable. A buyer may be able to find some homes that the seller is willing to negotiate.
One note: The Luxury Market has a low price point of $949,000 for VOC. This is a increase of $49,000 from October. Two more million dollar homes were added the the mix for those who may be interested in the Luxury segment.
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 Luxury Market is measured using 86336, and 86351 zip codes. The price point is at $1,500,000 for the top 10% of the market. This is a drop of $150,000 from the previous month .To learn more about these market reports please visit the Learning Center or visit Market Stats on my website.
Village of Oak Creek (VOC) – Big Park – Sedona 86351
Characteristics per Quartile
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*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)
Search For Sedona AZ 86351 Property By Bracket
Select Links Below To See Sedona Single Family Homes In Each Price Range
There is 2 more Million Dollar Home Available since October
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.
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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.