Summer 2010 Sedona Market Update

Here we are in the pre-monsoon days of summer and the heat has gotten to the buyers of Sedona real estate.  I’ve personally seen multiple offer situations on a handful of homes – because pricing is low enough to spur serious buyer interest.   June activity was HIGH and there were 48 homes sold in Sedona.  A suprising fact is that last month homes sold for 96% of list price.   The median sale price in June was $329,500 – but there were some luxury home sales as well, which brought the average sale price of a Sedona home up to $428k.

The market is trending upwards and 546 homes on market with 65 homes currently in escrow – leaving us with only 481 homes truly available.  Looking back 18 months ago we had over 700 homes on the market.  Looking at it that way, our inventory of available homes is down by 33%!  That’s a pretty shocking decline in availablilty – but I must say that the deals are better now and people looking to move to Sedona are getting great deals on homes in today’s market.

Sellers with homes over $400k are singing the blues – activity has been relatively slow – and over 800k it drops off even more.  We did have a sale over $1M last month in Casa Contenta (actual price $1.35M) but on the whole activity in the upper ranges is slow.

For  any buyers reading this that are looking for a good deal – I showed a home to clients of mine that didn’t click with them – but is a fantastic deal for someone looking for a fixer house with INCREDIBLE views from a private backyard.  The home isn’t on the market officially yet – but the price is in the upper $300k range!  Approx 2000 sq ft home with 3 BR.  If this suits you – let me know!