Well folks, the 4th of July has passed and signaled the beginning of our monsoon season here in Sedona. This means we’ll be seeing higher temperatures during the day and some cloudy afternoons with rain possible daily for the next 8 weeks (great sunsets that this time of the year too!). This cooler rain tends to cool off our real estate market during the same timeframe – so look for our HOT market to cool for the next 2 months. We currently have 283 available single family homes and 48 homes already tied up with other buyers. The condo market isn’t nearly as hot, but we have 69 available units and another 19 are already tied up with buyers in place. This is the lowest level of available homes on the market for over 7 years – and the activity level this year has been above the past several years.
Low activity levels mean less competition for homes during the next two months, so this may be an opportunity for buyers to jump on well priced homes while others aren’t looking. The quickest moving segment of our market continues to be the sub $400k price range in Sedona, so if you’re looking in this range, expect other bidders if the property is priced well. For information on whether the property is well-priced or not – check the statistics on www.sedonaforsale.com or speak with your local Realtor.