For the past couple of decades, Sedona has become increasingly attractive to luxury home buyers. An island of private property entirely surrounded by U.S. National Forest, it has been heralded as, “The Most Beautiful Place in America” by USA Today. It blends incredibly spectacular scenery with a mild-four season climate. Enjoying the intimacy of a small town it boasts a marvelously vibrant cultural scene and the culinary offerings of a much larger city. It attracts a surprisingly diverse and sophisticated population of fascinating people from all over the nation and the world. Second to none for natural beauty and a relaxed, gracious life-style Sedona makes for a marvelous place to call home.
Even with the general market slowdown in 2023, Sedona’s luxury home market - $1,000,000 and above – has been amazingly robust for the past five years. Astounding in the past three. Each year since 2020 sales of luxury homes set records. Previous to that, the average cost per square foot for homes over a million dollars remained fairly stable at about $350, versus $440 in 2006. Currently it’s about $520 – down from $586 in 2022. And, instead of selling for 102% of the list price, as was the case in 20022, the List/Sales Price Ratio is down to 97%. Thanks to a brief market correction. The price trend is now moving up and we’ll see more evidence of that in the fall. Still, luxury homes clearly remain a relative bargain, especially compared with the present high cost of building and in terms of what you get for your money when you compare Sedona with competing locales like Aspen, Monterrey, and Santa Fe. For our picks under that mark, go to Roy’s Best Buys page.
