Cooler nights have taken hold in the Verde Valley and we\u2019re into the best season of the year.\u00a0 Autumn days are typically sunny with clear blue skies and huge puffy white clouds \u2013 and the nights are cool and crisp \u2013 just cool enough to wear a jacket again!\u00a0 This string of uninterrupted great weather usually brings buyers back to the Sedona real estate world and this year is no exception.\u00a0 The main difference this year is that our inventory of available homes and land has shrunk by 20% over the past year and that vacant land is starting to sell again.<\/p>\n
The residential market is picking up steam \u2013 there are 409 residential units (homes, condos, townhomes included) on the market, and 69 of these are already in escrow.\u00a0 The single family home market is 309 homes available and 48 already in escrow.\u00a0 The bottom end of the home market (sub $300k) is pretty well picked over \u2013 with only 30 homes available in this price range.\u00a0 The last 6 months show 86 home sales, so with a 2 month supply of homes, this is a sellers market in this price range!\u00a0 Well priced homes in this range are moving quicker by the week.<\/p>\n
There are 146 mid range homes on the market ($300k-$600k) and 24 are already tied up with other buyers.\u00a0 The average price per square foot for homes sold in this range is hovering in the $185 per squre foot range \u2013 up marginally over last year.<\/p>\n
The big story may be our re-emerging vacant land market.\u00a0 For years, this segment of the market has been dragging \u2013 but a recent upswing of activity bodes well for the Sedona region.\u00a0 We\u2019re a few days away from topping the number of land sales for all of last year\u2026 with more than a quarter of the year to go.\u00a0 A few local builders are buying the best deals (under $125k in the city limits) to build spec homes, and thats fueling a bit of a run on vacant land.\u00a0 There is little activity in the vacant land market over $250k \u2013 but look for parcels to sell over the next year in the $125k-$175k range as the lower end of the market slowly goes away.<\/p>\n
Short Sales and Foreclosures are also going away \u2013 as we currently have 23 short sales and 16 foreclosed properties on the market.\u00a0 7 of the foreclosures are already tied up\u00a0 \u2013 leaving a total of 9 available foreclosed homes on the market today.\u00a0 This also points us in the right direction and shows signs of future strength in our Sedona Real Estate market!<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Cooler nights have taken hold in the Verde Valley and we\u2019re into the best season of the year.\u00a0 Autumn days are typically sunny with clear blue skies and huge puffy white clouds \u2013 and the nights are cool and crisp \u2013 just cool enough to wear a jacket again!\u00a0 This string of uninterrupted great weather…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3941,3935,3939,3940,3936],"tags":[3937],"_links":{"self":[{"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/posts\/469"}],"collection":[{"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/comments?post=469"}],"version-history":[{"count":0,"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/posts\/469\/revisions"}],"wp:attachment":[{"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/media?parent=469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/categories?post=469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/tags?post=469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}