March 2012 Sedona Real Estate update

Spring is in full swing here in Sedona after our unexpected snow day earlier this week.  When the good weather comes around, Sedona home buyers open their wallets and start making offers on homes.  There are 111 homes in escrow right now – which makes this the busiest time for Sedona Realtors in years.

There are approximately 350 residences (SFR, condos, patio homes, and manufactured homes included) that are truly available (active in our MLS system) in the Sedona area.  There are 26 foreclosed homes on the market and 14 of these are already tied up by other buyers.  Short sales are also in decline with 42 on the market and 24 of these are have been committed to other buyers.

We’re seeing less foreclosures and short sales on the whole – and lots of activity in the sub $300k price point for Single Family Homes.  We currently have 72 homes in Sedona priced under $300k – and of these – 34 are already tied up with buyers – making a whopping 47% of the homes in this price range are already tied up.  Almost half of all homes in Sedona under $300k are already gone!  If you’re looking in this range you’d do best to get prequalified by a local lender (of have a stack of greenbacks nearby) and start shopping NOW!

Sedona Singletrack Event – MTB Heaven!

Sedona Singletrack Celebration is a grassroots event that is focused on promoting Sedona mountain biking. The event will take place March 22-25, 2012 

Description…
We want to show you what Sedona mountain biking is all about. Come to meet the local bike shops, chat with the Forest Service, and go for a ride! Demo bikes from some of the best manufacturers. Enjoy good food, music, and some of the country’s most spectacular single track.

March 2012 Sedona Real Estate quick update

As we enter the busiest part of the season, I wanted to show the level of activity because it’s busier than any time in the past 5 or 6 years.  There are 86 residences in escrow – and only 290 available single family homes.  Yikes.  That’s about half the inventory level from just a few years ago!  We’re seeing less and less foreclosures – and the ones that do come available are gone QUICKLY most times with multiple offers.  We’re starting to see some of the lower end homes (under $300k) staying firm on pricing, so I’d imagine this is a sign of things to come later this Spring.  Vacant land sales are still somewhat soft – but there are 13 lots in escrow.  That would represent a 75% monthly increase if they all turn into sales in the next few weeks.  Stay tuned for more info and feel free to phone or email me for more detailed information and how it pertains to you!  Search homes at www.sedonahomesandland.com  or call me at 928-340-5012 for more info!