August saw another dip in home sale prices for the Sedona real estate market while there was an increase in the percentage of home sales that were over $1 million dollars.
Sedona has seen a decrease of 5.1 percent in the number of homes sold in 2019 when compared to 2018.
The average home sales price has seen with a decrease of 0.7 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 to 116 days from 127 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 424 home sales in Sedona which is a 5.1 percent decrease when compared to the homes sales of 2018.
Homes under $500,000 made up 46.2 percent of sales, with homes priced between $500,000 and $999,999 accounting for 43.4 percent of sales. Homes priced over $1,000,000 came in at 10.4 percent.
Sedona 2019 Home Sale Prices
The average home sale price, $597,073, in Sedona has experienced a decrease of 0.7 percent when compared to 2018.
Meanwhile, the median home sale price, $510,000, down 1.9 percent during the same time period.
Sedona 2019 Days on Market and Absorption Rate
The inventory of available homes for sale in Sedona remains neutral as the inventory for the year is at 5.4 months. The number of new listings (582) for 2019 is 2.1 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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