October saw the Sedona real estate market experience a slow down in the pace of home sales and home sale prices dip slightly.
Sedona has seen an increase of 13.6 percent in the number of homes sold in 2018 when compared to 2017.
The average home sales price has seen with an increase of 6.5 percent for 2018 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 2018 remained steady at 135 days.
Here is an infographic with the breakdown of how the Sedona Real Estate Market has done during 2018.
Sedona 2018 Home Sales
2018 has seen 551 home sales in Sedona which is a 13.6 percent increase when compared to the homes sales of 2017.
Homes under $500,000 made up 48.8 percent of sales, with homes priced between $500,000 and $999,999 accounting for 43.6 percent of sales. Homes priced over $1,000,000 came in at 7.6 percent.
Sedona 2018 Home Sale Prices
The average home sale price, $588,434, in Sedona has experienced an increase of 6.5 percent when compared to 2017.
Meanwhile, the median home sale price, $505,000, is up 6.3 percent during the same time period.
Sedona 2018 Days on Market and Absorption Rate
The inventory of available homes for sale in Sedona remains low as the inventory for the year at 5.15 months. The number of new listings (724) for 2018 is 15 percent 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.
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