Another year has passed us by… 2017 wasn’t good all around, but it sure was a good year for the real estate market here in Sedona.  Inventory is trending downwards – which tends to lead towards some upswings in pricing.  There are currently 275 residential units on the market – 214 of which are truly available – meaning that 61 homes are already tied up with buyers in escrow.  Let’s break down the 214 available homes in several ways. 

Total 214 residential units:

181 single family homes

20 condos/townhomes

13 mobile homes/manufactured homes

OR

< $300k =                 15 units

$300k – $500k =        42 units

$500k – $750k =        59 units

$750k- $1M =            41 units

$1M + =                    58 units

We can also break down the 181 single family homes down into the different parts of town – so that you can get a feeling for which neighborhoods have more availability

Oak Creek Canyon –    4

Uptown Sedona –        21

West Sedona –            67

Loop Road area –        16

Chapel area –             21

Village of Oak Creek   52

Year end data will be coming in a few weeks – but in general – the market is up in the range of 25% for the year.  That means that the total dollar amount for homes is up – not necessarily the pricing.  Don’t confuse these.  Some people might see this stat and think that their house is worth 25% more this year.  That % is hidden a little deeper into our statistics – but I’d say that it’s closer to a 6% increase across the board this year.  There were some segments that performed better than others – for instance the $600k-800k market the average price per square foot went up by 10%. 

Be sure to ask your agent for details on the value of your house – and if you don’t have an agent, send me an email!  Thanks and Happy New Year!