March Madness in the Sedona Real Estate market
Sedona Market Trends, Sedona property buyers, Sedona Real Estate / Apr 2, 2010
Spring has sprung – and prices are down across the board – and that’s spurring LOTS of interest in Sedona properties. Spring has always been the busiest season for purchasing Sedona homes, and this year is no exception. Of the 589 residential properties on the market there are 85 currently tied up in escrow (in the process of being bought).
Short sales and foreclosures are still present in our market, but their numbers are dwindling as well. There are 44 short sale listings and 49 foreclosures – so, a little less than 16% of our inventory is “distressed”. Of these 93 distressed properties, 46 are already in escrow, so half of them are “gone” already. Many of these homes have deferred maintenance and can be problematic, so be sure to ask your agent their take on the current condition of the home in question. There’s probably a reason why it’s priced so well…
Moving on…. there are good deals in every price range – and the most active portion of the Sedona market is in the sub $500k price range. There are good homes in that range that just came on market today – but the best ones tend to go quickly. Call your agent today to get a list of homes that fit your needs!!!