Click on the link below to see the summer edition of the Russ Lyon Sotheby's newsletter. It's full of interesting information, especially the article on what they call phantom appreciation. Essentially what they are saying is that one of the reasons the median price of homes sold has gone up so much is because the distressed properties offered at bargain basement prices are now practically non existent, so buyers have to pay more for their homes. The article offers statistics for all of the major markets in Arizona, including Sedona.