The recent set of economic conditions has affected the Sedona market but not as strongly as what you read in the news about the national market as a whole. There are some opportunities for purchasing short sales as well as REO (bank owned properties) in Sedona and most areas of the VerdeValley. In addition to the bank properties, there are excellent buys throughout the area - especially in homesites. If you plan to build your retirement home in Sedona (even many years out)there may never be a better time to buy a homesite than today. Lot prices on average are down more than 50% (and in some cases more than 80%) and there are many motivated sellers.
- Number of listed homes & condos in all of the Sedona market: 574 (down from 587 60 days ago)
- Number of homes & condos listed below $400,000: 181 (was 193 60 days year ago)
- Number of homes listed over $1 million: 115 (was 126, 180 days year ago).
- Median listed price: $549,000. (up from $525,000 60 days ago).
- Number of homes & condos sold year in 2009: 92 (about twice the volume as Jan. - March 5))
- Median sales price of all homes and condos sold in 2009 $405,550 (was $453,650 for Jan - Feb. 2008).
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- Number of listed home-sites in all areas of the Sedona market 433 (has remained constant over the past year)
- Number of lots listed below $300,000: 186 (was 95 - a year ago)
- Number of lots listed above $1,000,000: 66 (was 70 - 60 days ago)
- Median listed price: $350,000 (was $489,000 - a year ago)
- Number of home-sites sold year in 2009: 12 (twice the rate of Jan - March 5) - plus there are 18 more in escrow!
- Median sales price in 2009 $216,000 (Same as Jan, - Mar 5)
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