Uptown has highest value in all of Sedona?

As many of you know – as an Uptown Sedona resident, I’m likely to extoll the virtues of living in the area to all buyer clients.  Due to many factors, the Uptown Sedona valuations seem to be higher than the rest of town… and for the first time, I’ve run the numbers to prove that fact.  I know that Uptown Sedona has it’s challenges (traffic on weekends in Spring and Fall), but for the most part, I’ve found it to be home to some of the best neighbors and best red rock views in the area.  The town of Sedona years ago was what we currently call Uptown today, then the town spread to West Sedona, then to The Chapel area, and finally out to the VOC.  So, as the original part of town, Uptown has some of the best views and is walking distance to the shops, restaurants, bars and coffeeshops frequented by people visiting the Red Rock Country of Sedona.  It’s certainly the smallest one of the 4  areas of town that Sedona’s broken down into…. and thus, there are less homes that come available, and certainly less available in the affordable (<$400k) category.

Uptown Sedona West Sedona Chapel Area VOC Homes
Active for Sale 5 119 37 101
Pending Sales 3 40 9 39
2013 Sales 8 104 22 106
Average Sold Price 544,000 432,000 427,000 388,000
Average price/ Sq ft 214 199 180 180
Average DOM for sold homes 42 146 200 165

The results of this quick search shows that there are fewer properties on market in Uptown, they sell for higher prices, and MUCH quicker.  The average home sells in just 42 days in Uptown… that shows that the reduced inventory increases buyer demand.  I guess my Econ 101 professor was right…