September 2010 Sedona Real Estate Update

I can’t believe we’re coming in the the 4th quarter of 2010 already.  Buyer activity has certainly picked up this year – 377 homes have already sold so far in 2010.  580 homes currently on the market including the 66 already tied up under contract.  That leaves us with a bit over 500 homes currently on the market – and we’re entering the 2nd busiest time of the year.  When the weather cools, I predict another surge of activity in the local real estate market.  We’ve been fortunate enough to have some warm temps through September, but the cool nights are showing that we’re turning to Autumn.   The average home sale so far this year is a 3BR 2230 sq ft home that’s selling for $409k.  There were 12 sales in the $1M + category, but the majority of the sales are in the sub $500k price range.  It’s the hottest price range – and in this category, we have a balanced market with about 6 months of inventory.  Other price ranges are still heavy on listings and this benefits the buyers – but if you’re looking to buy a home in Sedona for under $500k – the tide is turning!