How's The Market Doing?
Single Family Homes For-Sale
VOC - Village of Oak Creek - Big Park - Pine Valley
Sedona Arizona 86351
April 2017 ~ REAL TIME Market Report& Analysis
(The Graphs Are Always Current)
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Homes On Golf Course - Returned 11 Results - Sedona Arizona 86351 - No Change
Learn More About Big Park - VOC - Sedona AZ 86351
Courtesy of Sheri Sperry
YOUR Solutions REALTOR®
Coldwell Banker Residential Brokerage
Check out the most current monthly reports in the Sedona Verde Valley at
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Sedona Arizona 86351 Homes For-Sale
Report 4/24/17
Big Park (VOC) Market Report
April '17 Big Park VOC MARKET HOME ANALYSIS – First of all, these are real time charts that tell us “How the market is doing”. See the definition of Market Action Index above. Altos Research uses a complex algorithm to provide the MAI.
VOC, Village of Oak Creek or Big Park also known as Sedona 86351 is the bedroom community of Sedona. It is located 20 minutes from the city center off highway 179. There are two zip codes in Sedona, 86336 and 86351. People choose this side of town because there is less traffic, good hiking trails, and a buyer can get more home for the same amount of money as Sedona 86336. It is also closer to the SR 179 for those who travel a lot.
These VOC Market Reports will highlight 86351
In this zip code, you will find a majority of single family homes nestled between some red rock formations. Bell Rock, Courthouse Butte, Castle Rock and the back side of Cathedral are the most notable of the formations. You will also find more than a couple of golf courses including an executive 9 hole course. Even though there is some shopping, entertainment, restaurants, and lodging. The majority of the zip code has more affordable housing than the zip code of 86336.
Always use the median price to track trends. The median means that half the homes are higher and half are lower. If the highest priced home is well over a million dollars this will drive the average price of homes up substantially. Average price is not a good indicator of how the market is doing.
Characteristics By Quartile
April '17 - VOC Sedona AZ 86351 Homes For-Sale
SEARCH FOR ALL HOMES FOR SALE IN VILLAGE OF OAK CREEK
Select Links To See Sedona Single Family Homes In Each Price Range
There are 7 VOC homes for sale (currently) priced at $1 million and over - (0)
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$575,000 to $999,999 returned 29 VOC homes for sale - (+3)
$400,000 to $574,999 returned 33 VOC homes for sale (-1)
$399,000 and under returned 25 VOC homes for sale (+3)
The listings above can change at any given time based on homes being added or subtracted from the Multiple Listing Service (MLS).
Supply and Demand - (VOC) Sedona 86351
How the Market is Doing
Median Price
The Median Price has decreased from 577,444 to $569,900. The four quartiles are showing mixed results. The upper brackets have shown a decrease while the lower brackets have increased some.
Interactive chart below will continue to show current market information
Inventory
Inventory though low, is showing signs of upward movement. The market is up 6 homes versus 2 weeks ago. This is a normal seasonal shift. If you compare May of last year to May of this year, the inventory is still way down.
Interactive chart below will continue to show current market information
Days On Market (DoM)
The properties in VOC - Big Park and Pine Valley have been on the market for an average of 201 DoM, which continues to show a decrease. Overall there is a 6.7 month supply of homes on market. Three of the four brackets are down. The premium segment is down around a month.
Generally, the homes that are priced right will go into contract much faster causing the DOM to rise on homes that have been on the market and gone stale.
Interactive chart below will continue to show current market information
Buyer or Seller Market? (MAI)
The Market Action Index - The MAI continues to hold at 28.8. However, all quartiles are in the seller zone or right at 30 MAI. There have been only 2 months where the top quartile moved into the seller zone. There is such low inventory in the 86336 zip (Chapel area, Uptown and West Sedona that buyers are moving into the VOC area to purchase a home. This drives up the demand creating a seller zone overall for 86351. The chart indicates upward movement at the time this was written.
Interactive charts below will continue to show current market information
Bottom Line
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. Overall the real estate market for Village of Oak Creek continues to have very low inventory. If the inventory continues to rise, it may push a downward demand on pricing.
A buyer may be able to find some homes that the seller is willing to negotiate. The reason some homes are stale is because the seller is not willing to drop the price of the home. Keep that in mind when negotiating.
Luxury Market
One note: The Luxury Market has a price point of $900,000 for the top 10%. This figure is based on the last 6 month’s of sold listings for all of Sedona. The top 10% of active listings (which is different from sold listings) is at $950,000 for the Village. – This just gives you an idea of how the active market compares to the sold market.
The Sedona Luxury Real Estate Professionals which Sheri Sperry is a past-president uses the definition above for defining a luxury listing. The Luxury Market is measured using 86336, and 86351 zip codes.
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