Spring buying season is in full swing - with 70+ residential units (homes, condos, etc) tied up with buyers. Inventory has ticked up slightly - we're currently at 409 homes on market. IF we only count Single Family homes, then the currently available homes drop to 286. Buyer activity seems strong with some mulitple offer situations on well priced homes. There aren't multiple offers on many homes, but if you see a deal - you'd be wise to act sooner than later. Highest activity levels seem to be in the sub $300k price range (only 14 available homes under $300k) and in the 300-500k price range (20% of listed homes are tied up with buyers). I've been showing properties in the 500-600k range more often than any other range and the pickin's are slim. The best ones are already tied up with buyers. We need more inventory in this price range...
Vacant land is still fairly steady - with 338 available lots in town - and 16 tied up with buyers. I still think that we're a few months (or a year) off from seeing higher activity levels for vacant land, but I do remember the days when you couldn't find a vacant parcel in West Sedona for under $300k. That was about 10 years ago... I have seen some decent view lots on sewer for about half of that amount, but affordable view lots sell fairly well. Contact your agent or ask me for guidance if you're ready to start your search!
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