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Slow Start for the Sedona Real Estate Market in 2016

Posted By Wally Reule @ Feb 3rd 2016 1:45pm In: Sedona Real Estate Market News

The real estate market in the Verde Valley is off to a slow start in January 2016. The number of homes that closed in January was actually up 4%, but the number under contract declined by 13%. Part of the problem is that the inventory of active listings is 14% lower (769 last year compared to 657 this year) than it was a year ago, and it was low then. The good news is that more new listings came on this January than last January. The jury is still out on how strong our market will be in 2016. As one analyst said, he is slightly more cautious in his optimism than he was at the beginning of the month.

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