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Median Sales Price of Vacant Land in Sedona up in 2013

Posted By Wally Reule @ May 21st 2013 10:56am In: Sedona Real Estate Market News

Because the inventory of existing homes is so low, we're getting many more requests for vacant land. So I was curious about how sales of lots compare to last year. Looking at vacant land that has closed from January 1 of this year, and comparing it to sales for the same time period last year, I was surprised that the number of actual closings was relatively flat. In Sedona, 30 transactions closed compared to 28 last year, and in the Village of Oak Creek, the number was 19, which is exactly the same as last year. However, the median price of these sales had increased in Sedona from $109,000 to $137,000, and in VOC from $84,900 to $118,300. Granted, it's a small sample, and doesn't reflect any sales outside of the MLS, but I still found it interesting.

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