March home sales for Sedona increased year over year by 1.4%.
The average home increased by 11.1% from $321,362 to $357,039.
The supply of homes in Sedona dropped 13.4% to a 8.4 month supply from 9.7.
The average days on market dropped from 189 to 149 which represents a 21.1% decrease.
Only 6.95% of the homes sold in March represented a distressed sale (foreclosure, short sale)
Home prices have returned to 2002 prices from the low of mid 2008. Land prices remain very low. Still at about the 2008 levels though trending slightly higher remain very attractive to investors and those looking to build.
Luxury homes continue to lag the rest of the Sedona market (1M or more) with those homes being on the market for an average of 19 months.
Cottonwood home sales continue to accelerate with monthly sales increasing and an inventory drop from 5.3 months to 3.7 months.
Year over year homes prices have climbed from $114,583 to $133,533. Almost a $20,000 increase in home value.
The real estate market continues to improve in all areas in N. Arizona.
Of all the brokerages in N. Arizona, Keller Williams Check Realty has sold more homes by unit sales sides year to date than any other real estate company with over 1400.
Call Jack Whiteside if you live in the Verde Valley for your free personal market analysis before listing your home. 928 776-4111 or sellingsedonahomes@kwrealty.com,
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