Sedona Real Estate Finishing Strong in 2016

I mentioned in a blog a couple of weeks ago that the market is getting stronger, and that trend is absolutely continuing. We still have over a week to go in this year, but we have been very active in December. Inventory, which has been low all year, got even lower. As of this week, there are only 203 listings for single family homes under one million dollars. To put that in perspective, we had 250 at the same time last year, and a few years ago there were times when over 400 were on the market. Anecdotally, I have a client who wants to purchase a home in Western Hills. Last week there were three available, and this week, only one is left. And, of course, the old law of supply and demand are kicking in, and the median price of a home has gone up from $437,000 a year ago to $478,000 now.

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