How's The Market Doing?
Homes For-Sale
Cottonwood
Arizona 86326
May 2017 ~ Market Report & Analysis
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Learn More About Cottonwood Arizona 86326
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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Cottonwood Arizona 86326 Homes For-Sale
Report 5/29/17
May Cottonwood Market Conditions
May 2017 COTTONWOOD MARKET HOME CONDITIONS – 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.
To analyze the Cottonwood AZ Market Report, An understanding of the city is helpful. It is about a half hour south of Sedona and located off highway 260 and the 89A. Cottonwood is known for it’s big box shopping centers and is also known for the Verde Valley Medical Center. This is very appealing to many who need to be near medical facilities, doctors and other professionals. There are many medical offices around the hospital that provide all the services you might need. Go to LifeInSedona.com and select Cottonwood for more information. Old Town Cottonwood has been completely renovated in the last few years. It has the charm of the Old West and the modern flair of contemporary restaurants and boutique shopping. One of my favorite gourmet food stores is the Verde Valley Olive Oil Traders. You must go in there and taste the ultra fresh olive oils and balsamic vinegars they offer. This Old Town experience is another reason that the Cottonwood, Clarkdale and Cornville areas are thriving. Not only does this area bring tourism but the locals are fully invested in it’s success!
These Cottonwood AZ Market Reports will highlight 86326
As a bedroom community of Sedona, Cottonwood can be very appealing to many people. Cottonwood also has big box stores such as Home Depot and Wal-Mart and a large Fry's Supermarket.
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
May '17 - Cornville - Verde Santa Fe - Page Springs - AZ 86325 Homes For-Sale
SEARCH FOR ALL HOMES FOR SALE IN COTTONWOOD AZ
Select Links Below To See Cornville Single Family Homes In Each Price Range
The Top 10% (9) of currently listed homes starts at $700,000 for Cottonwood
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4 Cottonwood homes for sale (currently) priced at $1 million and over - (-1)
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$450,000 and higher returned 18 Cottonwood homes for sale - (-5)
$288,000 to $449,999 returned 22 Cottonwood homes for sale - (-1)
$210,000 to $287,999 returned 23 Cottonwood homes for sale - (+1)
$209,999 and under returned 14 Cottonwood 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 - Cottonwood AZ 86326
How the Market is Doing
Median Price
The Median Price has moved up $9,800 overall from the beginning of May. The two upper brackets have had strong gains while the bottom two brackets are a little softer. The lack of inventory is having some effect.
Interactive chart below will continue to show current market information
Inventory
Inventory continues to trend downward. Spring is in full swing, there has been only decreases in inventory. Also there is no current indication that inventory will increase. All brackets have shown decreases in inventory. A total of 17 homes have been absorbed in the last two months. This is pretty significant for our market area.
Interactive chart below will continue to show current market information
Days On Market (DoM)
The Days on Market are mixed through the brackets. The top bracket is down probably because one luxury home is off the market. The upper bracket is up 44 days from May. The third bracket is off by 26 days and the bottom bracket is up by 1 week.
Most buyers willing to spend that amount for a home would normally be looking at Sedona for a home. However, for top bracket homes, I would target Cottonwood business owners and the medical community. Medical personnel must live within a certain radius of the hospital they work at. Business owners do not want to live to far from their businesses.
Interactive chart below will continue to show current market information
Buyer or Seller Market? (MAI)
The Market Action Index - The MAI is continues to show a sellers market in all but the top quartile. The bottom quartile has shown a dramatic increase from the beginning of this year. It is up to 63 MAI. The remaining brackets are also up. When there are less
Interactive charts below will continue to show current market information
Bottom Line
Cottonwood is in the seller zone and but a buyer may be able to find some homes that the seller is willing to negotiate in the top quartile. Homes are not staying on the market long in the other quartiles. When the inventory is down, the MAI is going to start to rise higher at some point. It has started to rise again.
Luxury Market of Sedona
One note: The Luxury Market has a price point of $860,000 for the top 10% in Sedona. This figure is based on the last 6 month’s of sold listings for all of Sedona. For Cottonwood, the top 10% of active listings starts in the mid to high $600,000 range. – This just gives you an idea of how the active market of Cottonwood compares to the sold market of Sedona.
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.
MAI or Market Action Index answers the question "Hows the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
To learn more about these market reports please visit: Market Stats on SellSedona.com. Reports are generated weekly on Mondays *Please Note: As new listings hit the market and homes close or fall off, the number of Sedona homes for sale will fluctuate daily based on the Multiple Listing Service (MLS) detail. The local MLS for this area is Sedona Verde Valley Association of Realtors (SVVAR) .
ABOUT ME: “Many buyers and sellers are skeptical about salespeople. So am I! But, I am not a typical salesperson. I put myself in your shoes and help you make decisions based on how I would want to proceed if I were you. In other words, what steps would I take and what is right for you? How will this transaction be beneficial for you? How will it help you move forward with your goals? How can I make it as smooth and pleasant as possible? What is in your best interests as we move forward?
Let’s face it, you won’t really know that I am not a typical salesperson until you get to know me. I am confident you will feel at ease and comfortable knowing I can find solutions for you. If you don’t feel that way, please let me know. I want to be the best I can for you."
"I am YOUR Solutions REALTOR®” ~ Sheri Sperry
Disclaimer: Listing information deemed reliable but not guaranteed – SVVAR Broker
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