The start to 2019 has seen the Sedona real estate market experience a decrease in home sale prices as a higher percentage of lower prices homes sold during the month compared to previous months.
Sedona has seen an increase of 2.4 percent in the number of homes sold in 2019 when compared to 2018.
The average home sales price has seen with a decrease of 4.3 percent for 2019 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 2019 has dropped considerably to 80 days from 169 in 2018.
Here is an infographic with the breakdown of how the Sedona Real Estate Market has done during 2019.
Sedona 2019 Home Sales
2019 has seen 42 home sales in Sedona which is a 2.4 percent increase when compared to the homes sales of 2018.
Homes under $500,000 made up 64.3 percent of sales, with homes priced between $500,000 and $999,999 accounting for 26.2 percent of sales. Homes priced over $1,000,000 came in at 9.5 percent.
Sedona 2019 Home Sale Prices
The average home sale price, $521,730, in Sedona has experienced a decrease of 4.3 percent when compared to 2018.
Meanwhile, the median home sale price, $405,000, is down 15.6 percent during the same time period.
Sedona 2019 Days on Market and Absorption Rate
The inventory of available homes for sale in Sedona remains low as the inventory for the year at 5.6 months. The number of new listings (57) for 2019 is 23.9 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
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