Single-Family-Home sales finally broke the 400 mark for 2015, at 408. There were 392 in 2014. So, about a 4% or so gain. The Median Recorded Sales Price was up roughly 2%, at $437,000. Not exciting, but respectable. Then, again, that’s about a 33% improvement over 2011’s Mid-year Bottom at $330,000. And, it’s nearly three-quarters of the way back from 2006’s peak of $600,000.
Luxury Market started strong…
Usually known for its inconsistency, the Condos & Townhome Sector, showed itself to be remarkably consistent this year. Sales should break the 100 mark. There were only 90 sold in 2014. And, the MRSP is likely to be in the $275,000 to $280,000 range for 2015 – up from $240,000 last year. Townhomes are particularly attractive alternatives for second home buyer who seeks more of a turn-key residence that is more-or-less worry-free.
For the long-term, it’s prudent to think of land inventory as an ever-diminishing, non-renewable supply – thanks to our being surrounded by National Forest. Its increasing scarcity in the next few years will push prices up sharply for both homes and land.Roy E. Grimm
That establishes a strong base for further sustainable growth in the Sedona Real Estate Market.
Enter Your Text
Sign up for the newsletter and stay ahead of the game with Roy's regular analysis of market changes in the Sedona area.Sign up for the newsletter