Sedona Real Estate Market is Hot
Posted By: Wally Reule
In: Sedona Real Estate Market News
Date: Fri, Jun 2nd 2017 11:15 pm
The market is really hot, and would be hotter if there were enough homes to sell. Here are some statistics to back it up.
- So far 175 single family residences have sold, compared to 140 last year....a 25% jump.
- There are 209 active single family residence listings now compared to 298 last year.
- Median sales price is $510,000, up 13%
- 15 luxury homes over $1,000,000 have sold compared to 5 last year.
- Vacant land is really picking up as the inventory of homes declines, with 52 lots sold compared to just 20 a year ago.
Now is a great time to buy land if you're thinking about building. Although the number of lots sold has been increasing, prices have lagged. But as inventory declines, they will be on the way up.