Sedona Land Market

SEDONA VACANT RESIDENTIAL LOTS

As Sedona housing prices soared to unprecedented heights during the Pandemic Years, the bright spot for buyers was the Vacant Land Sector. Back in 2006, the Median Recorded Selling Price for residential lots in Sedona was $519,000. That started coming back to earth in the first half of 2007 and had plummeted to $115,000 by 2011. In May 2025 that figure stands at $300,000 – a marked rebound from 2011 but obviously  far short of 2006’s $519,000.

In 2021, with existing home inventory drying up, many prospective buyers decided to build what they really wanted and vacant land sales boomed - tripling the number of sales in 2020.  Since Midyear 2022, however, we’ve seen a significant downturn in land sales thanks, in part, to the general market and , in part, to sharply rising building costs. 

That said, what is also going down is the supply of vacant land.  In the spring of 2019, there were 301 Active Land  Listings .  In 2025 there are 112.  And the Median Recorded Sales Price is up 13% even though sales are down by 37% from 2025.

That presents a strong buying opportunity for astute investors.  Expect the price point to resume its upward trend as inventory continues to dwindle.  Eventually, as the non-renewable supply of vacant land is exhausted, we'll see prices sky-rocket from these bargain levels.  Keep in mind that vacant land is a non-renewable resource. Sedona is completely surrounded by U.S. National Forest and almost all the land that can be developed pretty much has been.

Meanwhile, we are still seeing Sedona luxury lots selling at huge discounts compared with the prices they fetched in 2006. At some high-end gated communities, you can still find luxury lots starting in $300,000’s. Back in 2006 those would have been priced at $700,000 or $800,000. More commonly, though, you can expect to pay $400,000 to $600,000 for a really good luxury lot and well over a million or two for something truly extraordinary.