The dog days of summer have arrived\u2026 warm days, getting cloudy in the afternoon, then a bit of rain and unparalleled sunsets almost every night.\u00a0 Days are already getting shorter and the evenings are getting cooler (upper 60\u2019s) \u2013 so the best time of year is near.\u00a0 Our warm days have signaled that we\u2019re past the midway point in our summer slowdown and we\u2019re about to get busy again in September for the Sedona real estate market.\u00a0 Much has happened since my last update \u2013 many luxury homes have sold, and we\u2019ve continued to narrow the inventory of homes in the most popular price range (sub $400k).<\/p>\n
Short Sales and Foreclosures have thinned out considerably \u2013 currently making up 11% of the overall inventory of single Family homes in Sedona.\u00a0 This marks a 33% drop in distressed sales \u2013 as the percentage was 17% for over two years.\u00a0 Distress sales make up 23% of the SOLD residential properties in 2012 \u2013 as opposed to 40% in the prior years.\u00a0 This shows a serious shrinkage in the number and availability of distressed homes in town.\u00a0 Certain price ranges are starting to go away as well\u2026 for the last 18 months there were dozens of homes in town under $250k \u2013 but now there are only 14 currently available.\u00a0 I believe that the time is coming quickly when this market will disappear again \u2013 mark my words.<\/p>\n
On the upper end of the market (over $1M) we sold 15 homes in 2011 \u2013 and we\u2019ve already had 16 sales of residential properties this year to date.\u00a0 It appears that people are already feeling more confident about the state of the economy and future promise for growth and this is translating into a healthy market for luxury homes in Sedona.\u00a0 Price per square foot has come down a bit, but this segment of the market is doing well compared to the past few years!<\/p>\n","protected":false},"excerpt":{"rendered":"
The dog days of summer have arrived\u2026 warm days, getting cloudy in the afternoon, then a bit of rain and unparalleled sunsets almost every night.\u00a0 Days are already getting shorter and the evenings are getting cooler (upper 60\u2019s) \u2013 so the best time of year is near.\u00a0 Our warm days have signaled that we\u2019re past…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","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\/471"}],"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=471"}],"version-history":[{"count":0,"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/posts\/471\/revisions"}],"wp:attachment":[{"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/media?parent=471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/categories?post=471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sedonahomesandland.com\/wp-json\/wp\/v2\/tags?post=471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}