Sedona Real Estate Trends: Just Out!
I just got out of our November Real Estate Statistics meeting for the Sedona Market and here are the highlights:
November “Pending” sales are up the highest they have been since before 2006.
The Sedona Real Estate Market’s inventory of single family homes is at its’ lowest point since 2006.
The average price per square foot for Single Family Homes is holding steady at $180 a square foot all year.
We are showing an 18% increase in unit sales this year.
Coldwell Banker First Affiliate has sold 40% more listings than any other local so far this company this year.
What does all this point to? Mainly that our market is stabilizing in the under $600K range and the people who don’t have to sell right now are simply taking their homes off the market. This is good news because having overpriced listings skews the whole market and creates unrealistic expectations. What we are showing is a realistic market with properties that are selling. Outlook for the spring looks sunny!
I welcome your comments and questions at: Laura@SedonaInspiredMoves.com or visit my web site to receive my monthly newsletter at www.SedonaInspiredMoves.com
Happy Holidays and if a new home is on your futire, dont hesitate to call me.
Laura L. Pennington
928-300-0180
