Yes, fall has finally come to Sedona with it's incredible weather, increased # of visitors, and our 2nd busy season of the year for Sedona Real Estate. It seems like there are people here year-round - but when they come and it's 75 degrees with clear blue skies and chilly evenings, things heat up for our local marketplace.
I just updated the Sedona Real Estate Market Update so that everyone can see for themselves the health of real estate in Sedona. After starting off the year with a thud in January, things have progressively gotten better. There are about 10% less homes on the market today than 6 months ago - a positive sign that buyers are swooping in and getting great deals on available homes. Prices have held steady after an initial decline - and we're now averaging about $200 per square foot for a home here in town. As you get into the higher price points, the $per square foot goes up - but it's still under what it was a few years back. On the whole I'd say that our pricing is off 30% or so from our highs in 2005/2006. If you bought then - hang on tight and if you haven't bought yet - you'd better get your shoes on and get looking. The best deals go in a matter of days if the pricing is right. Inventory is getting tighter so if you intend to cash in on low Sedona prices - I wouldn't wait much past January of 2010. The next few months will be the best time to take advantage of our pricing and selection, before the main high season starts in February/March of 2010. I predict that we'll see more tightening of supply and leveling of pricing!!!
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