October Sedona Real Estate outlook
Sedona Foreclosures, Sedona Market Trends, Sedona property buyers, Sedona property sellers, Sedona Real Estate / Oct 11, 2011
Yeah, it’s been a while since I’ve done an update here – but I also write the Red Rock News Real Estate Blog and write even more on my Facebook page – so you can always find me somewhere!
As for the market – we seem to be a little slower than expected this fall. Typically we’re busiest in spring and fall – you see more homes selling during those times than winter and summer. This year, we were really busy in Spring and surprisingly busy in the summer. Now that we’ve entered our “busy time” for some reason or another (or more likely a combination of reasons) we’re a little slow.
There are 515 residential properties on the market in ALL of Sedona – and of these – 49 are already tied up with other buyers. September statistics are in – and all available on my Real Estate Market Update site. They show that sales were on target with September 2010 – but that the upper end has slid a little – we only had one sale over 800k this past month (vs 4 last year). This is more reason than ever to make sure homes are priced well – so that they have a chance of selling. It’s great news for buyers – who are still in the driver’s seat for homes priced over $500k here in Sedona. We do have a balanced market under $400k – which means a 6 month supply of homes.
We’re all assuming that home sales will pick up now that the weather is incredible – 75-80 degrees and clear blue skies during the day and chilly at night. It’s perfect weather for hiking and biking – so load up the car and make a trip to Sedona!