Zip Codes 86336 – 86351 Combined
This Sedona March 2018 market update compares March and YTD for 2017 and 2018. It also compares Single Family and Townhouse/Condo categories to help get a high level view of the entire Sedona market.
The trend charts below the key metrics in the above exhibit shows a 10 year comparison of Sedona median sales price to the entire Verde Valley.
Single Family Homes – Strong Seller’s Market
New listings are up 14.3% but the inventory is down 9.4% and the number of months supply has also decreased to 5.9 months. One cautionary piece of advice, don’t look at average sales price to gage pricing. One month there might be a $3 million home that goes on market which could increase the average sales price. The median sales price takes the middle point of the sales spectrum. Half the homes are above that point and half are below. The median is what should be scrutinized.
This is a market where homes that are priced right are going into contract fast. If you find a house you like, analyze all the data with the help of a real estate professional and make an offer.
Townhouse/Condo – Seller’s Market
This market has much fewer units available. This makes it harder to see the trends. March ’17 to March ’18 and YTD figures help to determine how the market is performing. Looking at all the indices, the days on market (DOM) are down significantly and there is just a little over 2% discount off list price. Though months supply of inventory is slightly higher than March of 2017, It is only at 3.7 months which is well into the seller zone.
Overall, there may be some good deals to be had, but townhomes and condos are selling faster than single family home because the price point is much lower.
When You Need A Real Estate Professional…
After being both a real estate buyer and a real estate professional, I have a unique perspective to help clients. In today’s seller’s market, buyers can’t do it without help from a professional. The REALTOR® has the experience and understands what needs to be done to help secure a home for the buyer at the best price and conditions. This report is a quick look to give a snapshot of the market. Whether you are a buyer or seller, I will provide a thorough analysis of any property to make sure the market value is at the proper price point.
If you have questions about Sedona market conditions or other information on the Sedona real estate market, please contact me at 928.274.7355 .
As real estate professionals, we have seen a busy first quarter. So, to see the Market Penetration Report, it confirms what we already suspected. We are in a hot market!
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Sedona & Verde Valley events, happenings and Sedona-Lifestyle, are brought to you as a courtesy of Sheri Sperry Coldwell Banker Residential Brokerage Sedona REALTOR®. If you are a contemplating selling your home, a prospective buyer or just curious about real estate in Sedona I would be honored to discuss our market. You can contact me at (928) 274-7355. From the moment I am contacted, you will observe my seasoned ability to provide you with “World Class Service” and that “personal touch” while utilizing a complete package of technology options that are of the utmost importance and so critical in today’s market. I will tailor REAL solutions to fit your specific needs.