June VOC Market Analysis - Village of Oak Creek - Big Park
Sedona Arizona 86351
June 2016 Market Reports
Prepared for you by Sheri Sperry - Re/MAX Sedona
YOUR Solutions Realtor®
Homes On Golf Course - Returned 12 Results - Sedona Arizona 86351 - 5 less homes since May
See Other Market Report Analysis at ReMaxSedona.net
Sedona Arizona 86351 Homes For Sale
Report 5/16/16
JUNE 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.
These June 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.
At the end of April. the Market Action Index or MAI was at the highest point for 3 out of 4 quartiles. In June, these quartiles are continuing a weak downward trend. The top quartile is also trending downward. Currently the other 3 quartiles are all meeting at an index of 33. This is still in the seller advantage range for MAI.
The inventory levels continues to rise which is providing a weak push downward on the Market. In Sedona 86351 which is basically areas east of Bell Rock, median prices have not changed much for several months.
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.
Check the interactive charts below.
These charts are always current and up-to-date with a Wi-Fi or Internet Connection.
Neutral Push On The June VOC Homes For Sale
Pricing continues to be relatively stable in again in June. In the past year, Each quartile has seen little movement in pricing. Areas that affect pricing are DOM and inventory. Buyers and Realtors are waiting for the right homes to come on market and moving those quickly while some homes continue to sit. There will need to be a continued strong downward trend in DOM and number of homes on market before there will be any rise in pricing.
Days on Market (DOM) are below May levels and are still trending downward. Though the inventory is showing a trend upward, the search results below indicate that the number of homes on market have dropped 5 since May. This is providing a neutral outlook for the market.
Buyers may continue to find some reasonable areas of selection in the top quartile. Any reasonably priced home in the other three quartiles is not lasting on the market. As a buyer, look to homes that have become stale on market to increase your odds at a equitable negotiation.
One note: The Luxury Market has a low price point of $975,000 for VOC. However, the Luxury Market is measured using 86336, and 86351 zip codes. The price point is at $1,650,000 for the top 10% of the market.
The Sedona Luxury Real Estate Professionals which Sheri Sperry is a past-president of defines the Luxury Market as the top 10% of the listings available.
To learn more about these market reports please visit the Learning Center or visit Market Stats on my website.
There are 11 VOC homes for sale (currently) priced at $1 million and over -
Million dollar bracket - no change since May
$575,000 to $999,999 returned 35 VOC homes for sale (- 1)
$400,000 to $574,999 returned 45 VOC homes for sale (-4)
NOTE: In the 2 months prior, 28 homes have been added to the $400,000 to $574,999 bracket for listings - 2 more homes added since April.
This is approx.150% increase in homes for sale in 3 months!
$399,000 and under returned 38 VOC homes for sale (no change)
The listings above can change at any given time based on homes being added or subtracted from the Multiple Listing Service (MLS).
Interactive charts below will continue to show current market information
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.
SEARCH FOR ALL HOMES FOR SALE IN VILLAGE OF OAK CREEK
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Disclaimer: Listing information deemed reliable but not guaranteed – SVVAR Broker
A paid subscription service is provided by SellSedona.com and Altos Research to determine "How the active market is doing". This Market Report is for single family residential only. No other housing segment is being analyzed. Analysis of Market Research and trends are based on opinion, experience, past & current statistics and other information. It is deemed reliable but not guaranteed.
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