It's the tail end of fall - and we've still got 20 shades of yellow and red leaves on the trees - which will probably be falling during our next storm. The Fall "busy" market for real estate here in Sedona finally ramped up, but it was a slow start to the fall season and it was short lived.
- Inventory levels are dropping ( Down 15% from Oct '14)
- Home sales are rising (up 40% from Oct '14)
- Average Sale price is Down 23% (I'd attribute this to the lack of upper end sales which skews the statistics)
Vacant land sales continue to drag along the bottom - if there's an opportunity in the marketplace it's here. Prices are low and haven't recovered yet from the '08 slowdown. Residential prices have made up lost ground, but prices for vacant land and the # of sales are still low. There's still an opportunity to pick up an easy build flat lot on sewer within the city limits for $100k. Look for these prices to rise in the coming years. It could be a great opportunity to save your place in Sedona years before you're ready to make Sedona your home!
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