Sedona Housing Inventory on the Rise

At long last, the number of homes for sale in Sedona has gone up. That's good news for buyers, but not so much for sellers. At the moment that I write this, there are 121 active listings in the MLS. Before the pandemic, we would average over 200 active listings, but for much of the past two years, it's hovered around 30, or even less. So the result has been what every arm chair economist would predict. Higher prices!

Breaking the numbers down, 45 are in the Village of Oak Creek and 76 in Sedona. In VOC the median list price is $899,000 and the average price per square foot is $406.92. In Sedona, median sales price is $1,195,000 and $604.39 per square foot.

Well, the market seems to be in a bit of a pause now. It's not cold by any stretch, but we are seeing fewer multiple offers or bidding wars. In fact, I counted five price reductions that have happened it the last couple of days. Can this be the start of a return to normal for the Sedona 

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