The numbers are in and the Sedona real estate market saw improvements during 2017 in home sales, home sale prices, and the number of days that homes spent on the market.
Sedona saw an increase of 12.9 percent in the number of homes sold in 2017 when compared to 2016.
The average home sales price finished up with an increase of 7.5 percent during 2017 over last year.
The Sedona Verde Valley Board of REALTORS® (SVVAR) reported that the number of days that homes that sold were on the market during 2017 was 181 days.
Here is an infographic with the breakdown of how the Sedona Real Estate Market did during 2017.
Sedona 2017 Home Sales
2017 saw 587 home sales in Sedona which was a 12.9 percent increase when compared to the homes sales of 2016 .
Homes under $500,000 made up 54.2 percent of sales, with homes priced between $500,000 and $999,999 accounting for 39.2 percent of sales. Homes priced over $1,000,000 came in at 6.6 percent.
Sedona 2017 Home Sale Prices
The average home sale price, $552,953, in Sedona experienced an increase of 7.5 percent when compared to 2016.
Meanwhile, the median home sale price, $478,000, finished up 8.1 percent during the same time period.
Sedona 2017 Days on Market and Absorption Rate
The inventory of available homes for sale in Sedona remained low as the inventory finished the year at 5.33 months. The number of new listings (731) for 2017 was slightly above those seen last year.
A neutral market is 6 months of inventory with numbers above 6 months indicating a buyer’s market (more supply of homes than the demand) and numbers below 6 months, a seller’s market (more homes in demand than homes available on the market).
For more information on how these numbers affected you or for a specific neighborhood, contact me for free information.
Sedona Current Listings
Internet Data Exchange (IDX) listings provided by Sedona Verde Valley Association of REALTORS® (SVVAR) MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data is deemed reliable but is not guaranteed accurate.
What do you think?
Is there any other information you would like? What are your thoughts on how the real estate market is doing in Sedona? Please let me know what they are in the comments.