Sedona real estate buyers are seeing a different Sedona this spring – altogether different from past years. For the first time in 6 years we’re seeing a seller’s market in homes under $400k. This is a result of increased buyer activity leading to a decline in available homes – and this gives the sellers the confidence to hold firmer on price than they’d been able to in past years. There are currently 44 homes within the Sedona city limits currently tied up with buyers – and an additional 33 in escrow in the VOC. The current number of homes in escrow has dipped a bit since it’s highs a few weeks back – I believe we almost hit 100 homes. Many of these have already closed and new offers have not kept up with the number of closings. As of the end of March, we were 17% busier YTD in 2012 than the prior year (in # of units sold). For more geeky stats – go to to the full site with complete report on Sedona Home Sales.
The market’s still hot – and buyers don’t have a major advantage anymore under $400k. Inventory has dropped enough that it’s transitioned to a sellers market under this price and we’ve already seen some sellers holding firm to their list prices over the last few weeks.
Whoa… 92 homes in escrow with 17 closings already this month. The number of homes on the market is down 16% over the last 12 months, but Vacant Land listings are up 9% over the same timeframe. It’s still a good time to be a buyer of any Sedona property as we haven’t seen any major price increases across the board – so prices are low and interest rates have dipped beneath 4% again per our local lenders. (for a owner occupied SFR at least)
I’ll be updating the official site for all Sedona Real Estate sales figures later today – check it out!