May VOC Market Analysis – Village of Oak Creek
Sedona Arizona 86351
May 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
MAY 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.
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.
Since March, the Days On Market (DOM) started to trend downward for all quartiles. This trend continues in May, however the lowest priced quartile has started trending upward. Overall, the DOM is trending down. The inventory levels continues to rise which is providing a weak push downward on the Market. In Sedona 86351 which is basically areas east of Bell Rock, median prices have not changed much for several months.
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.
Pricing continues to be relatively stable in May. In the past year, Each quartile has seen little movement in pricing. Areas that affect pricing are DOM and inventory. Buyers and Realtors are waiting for the right homes to come on market and moving those quickly while some homes continue to sit. There will need to be a continued strong downward trend in DOM and number of homes on market before there will be any rise in pricing.
When it comes to Market Action Index, all quartiles except for the most expensive tier, are in the seller range. The bottom tier which was moving toward a buyer’s market in April has moved up 2 points in May.
Overall in May, buyers may still find some reasonable areas of selection in the top quartile.
One note: The Luxury Market has a low price point of $975,000 for VOC. However, the Luxury Market is measured using 86336, and 86351 zip codes. The price point is at $1,650,000 for the top 10% of the market.
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 decrease of 1 since April
NOTE: In the 2 months prior, 28 homes have been added to the $400,000 to $574,999 bracket for listings – 2 more homes added since April.
This is approx.150% increase in homes for sale in 3 months!
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.