May 2014 Sedona Market Update

And, the “bump” goes on…   By the end of April, the Single Family Residence 2014 sales stats had caught up with 2013. Dead even.

The price anomaly persists. The Median Recorded Selling Price gap is closing. It’s $395,000 right now versus $399,000 in 2013.  But, the Average Price Per Square Foot is $212 currently compared with $200 last year at this point; up 6%.

The luxury home market also started off the year more slowly than in 2013 and it, too has now drawn even with last year’s sales numbers, though prices are down about 4%.

As we saw last month, vacant land is the hot sector so far this year.  Sales are up 10% over 2013’s strong relatively strong numbers and prices are up about 32%.