The Sedona real estate market is far from stagnant as 2023 is coming to a close.
Sedona has seen a decrease of 15.8 percent in the number of homes sold in 2023 when compared to 2022.
While the number of sales has experienced a dip, the average home sales price has remained steady.
The average home sales price has seen an increase of 2.2 percent for 2023 over last year.
If you’re in the market for a home in Sedona, the scarcity of available homes presents a unique difficulty with no expected changes on the horizon.
For those of you considering selling, the 16.4 percent drop in listings means that you’ll face less competition.
Your home will have a chance to shine in a less crowded spotlight, potentially making your journey smoother.
The Sedona Verde Valley Board of REALTORS® (SVVAR) reported that the number of days that homes that sold were on the market during 2023 is 56 more, 141 days, as it was in 2022.
Here is an infographic with the breakdown of how the Sedona Real Estate Market has done during 2023.
Sedona 2023 Home Sales
2023 has seen 431 home sales in Sedona which is a 15.8 percent decrease when compared to the homes sales of 2022.
Homes under $500,000 made up 8.8 percent of sales, with homes priced between $500,000 and $999,999 accounting for 51.3 percent of sales. Homes priced over $1,000,000 came in at 39.9 percent.
Sedona 2023 Home Sale Prices
The average home sale price, $1,131,576, in Sedona has experienced an increase of 2.2 percent when compared to 2022.
Meanwhile, the median home sale price, $902,000, up 0.2 percent during the same time period.
Sedona 2023 Days on Market and Absorption Rate
The inventory of available homes for sale in Sedona is seller friendly as the inventory so far this year is at 5.0 months. The number of new listings (595) for 2023 is 16.4 percent below 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
Sorry we are experiencing system issues. Please try again.
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?
Wondering how changes in the market has affected the value of your home?
You can get a free valuation of your home with absolutely no obligation.
Please fill out the easy to use form to get your instant home value report.
Please note your information will be kept strictly confidential and will only be used to help me provide you with a better real estate experience.
