Articles – 2007 in Historical Perspective Sedona Market Statistics

 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%