Cornville/Page Springs – Arizona 86325
July 2016 Market Conditions
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Prepared for you by Sheri Sperry –Re/MAX Sedona
YOUR Solutions Realtor®
Check out the most current monthly reports at REMAXSEDONA.NET
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July – Cornville AZ 86325 – Homes For Sale
Report July 25, 2016
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.
Cornville 86325 which includes the community of Page Springs, is growing among those looking at buying homes for sale. Many homes such as the neighborhoods and sub-divisions of Verde Santa Fe are newer homes with great appeal. Verde Santa Fe (VSF) has several neighborhoods that appeal to a variety of residents and buyers. VSF amenities abound, from gated communities, two clubhouses, neighborhood and community pools and a golf course where residents can belong to the VSF Men’s Club or Ladies League. Call golf course for more info and pricing @ 928-634-5454.
The Cornville area is also a bedroom community of Sedona, and it’s close proximity to Cottonwood can be very appealing to many people. Cottonwood has big box stores such as Home Depot and Wal-Mart as well as the Verde Valley Medical Center. This is very appealing to many who need to be near medical facilities, doctors and other professionals.
These Market Reports will highlight Single Family Homes in Zip Code 86325.
Check the interactive charts below. These charts are always current and up-to-date with a Wi-Fi or Internet connection.
Supply and Demand – June Cornville
The Cornville AZ 86325 DOM (days on market) is trending downward. Three of the four quartiles have been moving lower. We are currently in the ‘summer season’ and sales activity has shown stronger signs than normal for this season. It will be interesting to see how this market continues to move.
Overall, the inventory levels and sales activity have helped to increase the Market Action Index. When you look at the Market Action Index by quartile, each segment is well above 30. The overall report from Altos Research shows that the MAI is 30.7. This is lower than what I have seen. The Market is a strong. Inventory is down Sellers continue to hold an advantage right now. We are also seeing upward pricing pressure. The charts below indicate that. The median price for this zip code has moved up $15,000 since May, however there is no change at all from June to July.
Remember that though it is clearly a seller’s market advantage, there may properties that present a better sales position based on the motivation and willingness of the seller to negotiate. This won’t change until multiple offers are being made. I have actually had a multiple offer situation. But the home was value priced and had 3 offers in less than a week.
BOTTOM LINE —> Similar to last month, there is not a lot of inventory to choose from. If you find a home you like, you should act on it and make the best possible deal and always seek the advice of a Realtor. We are entering the summer selling season which usually slows a little until September. Watch the numbers moving into July.
One note: The Luxury Market for Cornville currently sits at a price point of $599,000 and above. Six homes are available in this category. 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, and current information. It is deemed reliable but not guaranteed.