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The Law of Supply and Demand at work in Sedona Real Estate

Posted By Wally Reule @ May 24th 2013 7:48pm In: Sedona Real Estate Market News

What we are seeing in the Sedona Real Estate Market is text book. Demand is up, supply is down, and so prices are on the rise! When we look at the first four months of this year compared to the first four months of last year, we see that the number of homes sold has decreased from 145 to 123, but the median recorded sales price has risen from $337,000 to $410,000. This is actually good news because as prices increase, more sellers will come into the market, for a couple of reasons. First, prices are catching up with the levels that people are comfortable to list at, and second because some potential sellers are no longer underwater with their mortgages. As long as interest rates stay low, it will continue to be a great time to buy in Sedona.

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