If you're thinking about building a home in Sedona, whether it be this year or five years from now, this is a great time to buy the land. It's a buyer's market, and there are some amazing deals to be had. After an uptick in prices and sales in 2013 and 2014, this past year showed a nearly 20% drop in the number of sales, and a drop in the median sales price of 12%. However, because demand for homes is high and inventory is low, you can expect that to turn around.