Sedona Real Estate Update – November 2011
Sedona Foreclosures, Sedona Market Trends, Sedona property buyers, Sedona property sellers, Sedona Real Estate / Nov 4, 2011
Wow – the year is going quickly – before you know it the cold weather will set in (50’s) and we’ll be waiting for the first signs of spring. But let’s not get ahead of ourselves here – we’re in the middle of Autumn and town couldn’t be more beautiful. The daytime temps have been in the 65-75 or so and nightime temps in the 40’s. It’s ideal weather to go for a hike or mountain bike ride – or just drive up to Orchards store in Oak Creek Canyon and pick up a half gallon of Organic Sweet Apple Cider from local orchards. I did this a week or so back after hitting West Fork Trail about 9 miles north of Uptown Sedona. The fall colors are AMAZING and there seem to be so many more reds and oranges this year than past years. Regardless, the fall scenery there is amazing and if you haven’t been there yet, just wait and the colors along Oak Creek will be popping within the next week. It’s a great time for a visit to Sedona.
The real estate world is busy here in Sedona – we currently have 504 residential properties on the market with 55 of these already tied up with other buyers. There are only 204 residential properties within the city limits, the rest are in Oak Creek Canyon, The Village or off the Loop Road area.
Distressed Properties
There are only 19 foreclosed properties available in the entire Sedona area – and 4 are already tied up with a buyer – so that makes only 15 available Foreclosed Properties in Sedona. We’re not innundated with foreclosed properties like other areas of the state – so don’t expect plenty of availability in this segment of the market. There are however 40 short sale residences listed – and 13 of these are already spoken for. Most of these properties will sell as short sales – because banks have been getting easier to work with and are more accustomed to the procedures to make these deals work.
409 homes have sold in Sedona to date – 107 were foreclosed homes and 48 were short sales. In all – distressed properties make up less than 38% of our market – and this number is slightly lower than last year.