The 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 $575. Still, luxury homes clearly remain a relative bargain in terms of what you get for your money, particularly when you compare Sedona with competing locales like Aspen, Monterrey, and Santa Fe.