Sedona market statistics for the first quarter are in, and the market has definitely cooled from the first quarter of 2013. With regard to single family homes under $1,000,000, the median sales price has gone down from $427.000 to $375,500, and the number of closed transactions has declined from 91 to 76. But what's interesting is at the same time, the average price per square foot has gone up about 2%. When you do the math, you see that the size of the average home sold has gone down from 2157 to 1840 square feet. Our clients are buying newer well appointed homes that have smaller but more open and more efficient floor plans. For more information on our local market statistics, click here to be directed to that page on our website