Sedona & Village of Oak Creek Market Wrap-Up

2026 Year in Review — Zip Codes 86336 (Sedona) & 86351 (Village of Oak Creek / Big Park)
Data through July 15, 2026 · Single Family, Townhome & Condominium sales · Source: Sedona Verde Valley MLS market data

Market Overview

Halfway through 2026, the Sedona (86336) and Village of Oak Creek/Big Park (86351) housing markets are in the middle of a clear rebalancing. After several years of tight, seller-favorable conditions, both zip codes are seeing inventory rebuild, achieved sale prices pull back from recent highs, and the gap between what sellers are asking and what buyers are actually paying widen. Sedona is experiencing the sharper adjustment of the two, with sale prices down close to 30% year-over-year, while Village of Oak Creek has held up more steadily, with smaller price declines and actual growth in the number of homes sold. Neither market has fully tipped into buyer’s-market territory, but the trajectory in both areas points toward more balanced conditions than the region has seen in some time.

Sedona (Zip 86336): Year-to-Date Snapshot

Through mid-July, 168 homes have sold in Sedona at a median price of $1,186,333 and an average of $1,362,642 — well above the broader Verde Valley norm, reflecting the zip code’s concentration of higher-end and view/luxury inventory. But the year-over-year trend is the real story: comparing June 2026 to June 2025, the median sale price is down 32.9% (from roughly $1.36M to $911,000) and the average sale price is down 29.4%, even as median list prices climbed 13.6% (to $1,490,000) and average list prices rose 11.4% over the same period. That divergence — sellers listing higher while the market clears lower — is the clearest signal of a widening pricing-expectation gap in Sedona this year.

At the same time, supply has grown faster than demand. New listings are up nearly 32% year-over-year, active inventory is essentially flat, and months’ supply has jumped about 43% — from roughly 4.3 months a year ago to just over 6 months in June, solidly past the traditional 5-to-6-month threshold that marks a buyer’s market. Homes are, however, selling faster once they do sell: average days on market fell 43% year-over-year to 44 days in June, and the sales-price-to-list-price ratio has held essentially flat near 96-98%. Read together, this suggests correctly priced homes are still moving briskly and close to asking price, while overpriced listings are what’s piling up in inventory and dragging down the averages.

Month to month, Sedona’s pace of closings rose steadily from January (17 sales) through a May peak of 33, then pulled back sharply to just 15 in June — a 42% drop from June 2025 and worth watching as an early signal for the second half of the year. Price per square foot bounced between roughly $505 and $634 through the first half of the year without a clear directional trend, finishing June at $533, down 12% from a year ago.

Village of Oak Creek / Big Park (Zip 86351): Year-to-Date Snapshot

Village of Oak Creek and Big Park have told a steadier story in 2026. Through mid-July, 108 homes have sold at a median price of $858,979 and an average of $981,092. Year-over-year, June’s median sale price is down 6.9% and the average is down 10.9% — real softening, but far more moderate than what Sedona has experienced. List prices have moved up as well (median list +7.7%, average list +6.9% year-over-year), a smaller version of the same expectations gap seen in Sedona, but not nearly as pronounced.

Demand has actually been a bright spot: the number of homes sold in June was up 15% year-over-year, and the monthly closing count has been remarkably consistent, running in the high teens (17-19 sales per month) from April through June after a slower start to the year. New listings jumped 67% year-over-year and active inventory is up nearly 25%, but because the pace of sales also picked up, months’ supply crept up a comparatively modest 8% year-over-year to 3.74 in June — still well short of the buyer’s-market shift underway in Sedona. Days on market lengthened to 82 in June, up 17% from a year ago, and price per square foot has been essentially flat all year, closing June at $461, up just 1% year-over-year.

Key Trends Shaping the Market So Far in 2026

• A widening price-expectation gap. In both zip codes, list prices are rising even as sale prices fall — most dramatically in Sedona, where median list price is up nearly 14% while median sale price is down almost 33% over the same year-over-year window. This isn’t two markets moving in opposite directions so much as sellers’ asking prices catching up more slowly than where buyers are actually willing to transact.
• Inventory is rebuilding, unevenly. New listings are up sharply in both areas (Sedona +32%, VOC +67% year-over-year), and months’ supply has grown in both markets. Sedona has moved further into buyer’s-market territory (just over 6 months’ supply in June) than VOC (3.74 months, up a comparatively modest 8% year-over-year, since VOC’s faster sales pace has helped absorb the added listings). Sellers in Sedona are facing noticeably more competition from other listings than sellers in the Village.
• Well-priced homes are still selling close to ask. Sales-price-to-list-price ratios have stayed remarkably stable in both markets — 96-98% — even as achieved prices have fallen year-over-year. That ratio measures how close homes sell relative to their final asking price, not how that price compares to last year, so it’s a sign the market is still functioning efficiently for properly priced listings rather than one in distress.
• Sedona and VOC are diverging in resilience. VOC/Big Park’s sales count is growing (June sales +15% year-over-year) and its pricing has held up better than Sedona’s. Sedona has seen a sharper give-back in achieved prices and a pullback in June closings after a strong spring. This divergence is worth watching heading into the fall — VOC currently looks like the more resilient of the two submarkets.
• Momentum cooled into June. Both areas’ strongest closing months this year came in the spring — Sedona peaked in May before a sharp June pullback, while VOC held its pace into June. Whether that’s a seasonal pause or the start of a slower second half will be one of the clearer signals to track over the next couple of months.

Market Health Assessment

Taken together, the data points to a market that is rebalancing rather than one in distress. Absorption levels in both zip codes still sit within a historically normal range — roughly 3.7 to 6 months of supply — rather than a deeply oversupplied one, and sale-to-list ratios holding near 97% suggest genuine buyer demand remains for correctly priced homes. The clearest risk flag is the growing gap between what sellers are listing for and what buyers are actually paying, particularly in Sedona; if that gap doesn’t narrow through repricing, expect days on market to climb further and the current buyer-friendly shift to deepen in the second half of the year. Village of Oak Creek’s steadier pricing trend and rising sales count make it the comparatively healthier of the two submarkets right now, though both are worth watching closely as the market moves into the back half of 2026.