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!