2007 in Historical Perspective
Sedona Area Market Statistics

(City of Sedona, Oak Creek Cyn, Red Rock Loop, Village of Oak Creek)
provided by
Roy E. Grimm, PhD. & SVVAR

Single Family Homes

# SOLD Jan-Dec. 1997: 316
Median Recorded Sales Price: $210,000
Price per sq. ft: $111;

# SOLD Jan-Dec. 1998: 403
Median Recorded Sales Price: $230,000
Price per sq. ft: $119;

# SOLD Jan-Dec. 1999: 461
Median Recorded Sales Price: $239,000
Price per sq. ft: $124;

# SOLD Jan-Dec. 2000: 468
Median Recorded Sales Price: $256,000
Price per sq. ft: $128;

# SOLD Jan-Dec. 2001: 498
Median Recorded Sales Price: $271,000
Price per sq. ft: $138;

# SOLD Jan-Dec. 2002: 520
Median Recorded Sales Price: $301,000
Price per sq. ft: $148;

# SOLD Jan-Dec. 2003: 599
Median Recorded Sales Price: $339,000
Price per sq. ft: $168;

# SOLD Jan-Dec. 2004: 591
Median Recorded Sales Price: $420,000
Price per sq. ft: $195;

# SOLD Jan-Dec. 2005: 582
Median Recorded Sales Price: $529,000
Price per sq. ft: $248;

# SOLD Jan-Dec. 2006: 386
Median Recorded Sales Price: $590,000
Price per sq. ft: $284;

# SOLD as of 31 Dec. 2007: 254
(Down 34% from 2006)
Median Recorded Sales Price: $557,500
(Down 4% from 2006)
Size: 2,065 sq. ft; Price per sq. ft: $270

# Sold in VOC: 95; MRSP: $500,000; Price per sq. ft: $257
# Sold in SEDONA: 159;
MRSP: $610,000; Price per sq. ft: $275

2007 Half-Year Breakdowns:
# SOLD Jan-June 2007: 151
MRSP: $575,000

# SOLD July-Dec. 2007: 103
MRSP: $525,000

# Sold in 2nd Half of 2007 – down 31%;
MRSP in 2nd Half of 2007 – down 9%

#ACTIVE (Dec.31): 432
(vs.498 on 27 Sept 07, down 15%)
Median List Price: $689,000

#UNDER CONTRACT (Dec.31): 19
Median List Price: $569,000

Single Family Homes Under $1,000,000

# SOLD Jan-Dec. 2002: 516
Median Recorded Sales Price: $300,000
Price per sq. ft: $149;

# SOLD Jan-Dec. 2003: 576
Median Recorded Sales Price: $330,000
Price per sq. ft: $165;

# SOLD Jan-Dec. 2004: 558
Median Recorded Sales Price: $405,000
Price per sq. ft: $195;

# SOLD Jan-Dec. 2005: 530
Median Recorded Sales Price: $508,000
Price per sq. ft: $247;

# SOLD Jan-Dec. 2006: 331
Median Recorded Sales Price: $550,000
Price per sq. ft: $278;

# SOLD Jan-Dec. 07: 212
MRSP: $520,250
Size: 1968 sq. ft.; Price per sq. ft: $264;

#ACTIVE (31 Dec.): 315
Median List Price: $567,000
Price per sq. ft: $277;

#UNDER CONTRACT (31 Dec.): 16
Median List Price: $515,000
Price per sq. ft: $248;

Luxury Homes ($1,000,000+)
# SOLD Jan-Dec. 1997: 2
MRSP: $1,575,000
Size: 5,104 sq. ft.; Price per sq. ft: $309;

# SOLD Jan-Dec. 2002: 4
MRSP: $1,456,250
Size: 4,750 sq. ft.; Price per sq. ft: $307;

# SOLD Jan-Dec. 2003: 23
MRSP: $1,400,000
Size: 4,612 sq. ft.; Price per sq. ft: $303;

# SOLD Jan-Dec. 2004: 33
MRSP: $1,225,000
Size: 4,232 sq. ft.; Price per sq. ft: $289;

# SOLD Jan-Dec. 2005: 52
MRSP: $1,250,000
Size: 3,826 sq. ft.; Price per sq. ft: $327;

# SOLD Jan-Dec. 2006: 55
MRSP: $1,245,000
Size: 3,535 sq. ft.; Price per sq. ft: $352;

# SOLD Jan-Dec. 2007: 42
(down 24% from 2006)
MRSP: $1,317,000
Size: 3,509 sq. ft.; Price per sq. ft: $375

ACTIVE (31 Dec.): 120
Median List Price: $1,650,000
Size: 3,876 sq. ft.; Price per sq. ft: $426

UNDER CONTRACT (31 Dec.): 5
Median List Price: $1,325,000
Size: 3,084 sq. ft.; Price per sq. ft: $430;

2007 Half-Year Breakdowns:
# SOLD Jan-June 2007: 30
MRSP: $1,317,500 $ perSq.Ft: $375

# SOLD July-Dec. 2007: 12
MRSP: $1,347,500 $ perSq.Ft: $375

# Sold in 2nd Half of 2007 – down 60%;
$ perSq.Ft. in 2nd Half of 2007 – Even

Condos/Townhomes

# SOLD Jan-Dec. 1997: 134
Median Recorded Sales Price: $132,778
Size: 1,0974 sq. ft; Price per sq. ft: $124;

# SOLD Jan-Dec. 2002: 150
Median Recorded Sales Price: $177,250
Size: 1,163 sq. ft; Price per sq. ft: $153;

# SOLD Jan-Dec. 2003: 154
Median Recorded Sales Price: $209,475
Size: 1,270 sq. ft; Price per sq. ft: $165;

# SOLD Jan-Dec. 2004: 129
Median Recorded Sales Price: $279,000
Size: 1,325 sq. ft; Price per sq. ft: $211;

# SOLD Jan-Dec. 2005: 111
Median Recorded Sales Price: $312,000
Size: 1176 sq. ft.; Price per sq.. ft: 265

# SOLD Jan-Dec. 2006: 86
Median Recorded Sales Price: $390,000
Size: 1,352 sq. ft; Price per sq. ft: $288;

# SOLD Jan-Dec. 2007: 59
MRSP: $350,000
Size: 1,226 sq. ft.; Price per sq. ft: $285;

ACTIVE (31 Dec.): 135
Median List Price: $385,000
Size: 1,272 sq. ft.; Price per sq. ft: $303;

UNDER CONTRACT (31 Dec.) 3
Median List Price: $625,000
Size: 1,700 sq. ft.; Price per sq. ft: $368;

Vacant Residential Land

# SOLD Jan-Dec. 1997: 277
MRSP: $97,000;

# SOLD Jan-Dec. 2002: 381
MRSP: $145,000;

# SOLD Jan-Dec. 2003: 386
MRSP: $181,500;

# SOLD Jan-Dec. 2004: 428
MRSP: $225,000;

# SOLD Jan-Dec. 2005: 333
MRSP: $375,000;

# SOLD Jan-Dec. 2006: 115
MRSP: $519,000;

# SOLD Jan-Dec. 2007: 68
MRSP: $353,500

ACTIVE 402
Median List Price: $472,000;

UNDER CONTRACT : 14
Median List Price: $557,500;

2007 Half-Year Breakdowns:
# SOLD Jan-June 2007: 35
MRSP: $296,000

# SOLD July-Dec. 2007: 33
MRSP: $395,000

# Sold in 2nd Half of 2007 -down <1%;
MRSP in 2nd Half of 2007 – UP 33%