The month of February saw the Sedona real estate market experiencing similar numbers since the middle of last year, especially when it comes to home sales, which are down to less than 50.
Typically, the market should have around 60 home sales, and last year it was at 100, so there is a noticeable decrease in home sales.
However, despite the decrease in sales, the average home sale price still remains over a million dollars, which is less than 1% below what it was last year. Sedona remains a highly desirable location for those seeking luxury homes and a unique lifestyle.
If you’re looking to buy, it’s important to be aggressive and ready to act quickly when a suitable property comes onto the market. Homes that are priced right and in move-in ready condition are likely to sell fairly quickly.
If you’re interested in selling your home in Sedona, it’s important to differentiate yourself from the other homes currently on the market by ensuring that your home is priced appropriately, in move-in ready condition, and highlights its unique features.
While there may be a decrease in home sales and inventory, there are still buyers are looking for homes that are not only luxurious but also easy to maintain and manage from afar.
Sedona has seen a decrease of 50.5 percent in the number of homes sold in 2023 when compared to 2022.
The average home sales price has seen a decrease of 0.6 percent for 2023 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 2023 is 105 more, 196 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 49 home sales in Sedona which is a 50.5 percent decrease when compared to the homes sales of 2022.
Homes under $500,000 made up 10.2 percent of sales, with homes priced between $500,000 and $999,999 accounting for 57.1 percent of sales. Homes priced over $1,000,000 came in at 32.7 percent.
Sedona 2023 Home Sale Prices
The average home sale price, $1,029,651, in Sedona has experienced a decrease of 0.6 percent when compared to 2022.
Meanwhile, the median home sale price, $899,000, up 2.7 percent during the same time period.
Sedona 2023 Days on Market and Absorption Rate
The inventory of available homes for sale in Sedona is neutral as the inventory so far this year is at 6.9 months. The number of new listings (80) for 2023 is 29.2 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
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