Home sales for the Uptown Sedona real estate market during the month of October were less than half what they were last October while home sale prices remained steady.
Uptown Sedona has seen a decrease of 2.1 percent in the number of homes sold for 2018 when compared to 2017.
The average home sales price experienced an increase of 7.9 percent during the same time period.
The Sedona Verde Valley Board of REALTORS® (SVVAR) reported that the number of days that homes that sold were on the market for the year has experienced a 88 day decrease to 128 days.
Here is an infographic with the breakdown of how the Uptown Sedona Real Estate Market did during 2018.
Uptown Sedona 2018 Home Sales
For 2018, home sales in Uptown Sedona has seen 47 sales which is a 2.1 percent decrease when compared to the number of homes sales in 2017.
Homes under $500,000 have made up 23.4 percent of sales, with homes priced between $500,000 and $999,999 accounting for 72.3 percent of sales. Homes priced over $1,000,000 have come in at 4.3 percent.
Uptown Sedona 2018 Home Sale Prices
2018 saw the average home sale price reach $619,902 in Uptown Sedona which was an increase of 7.9 percent when compared to 2017.
Meanwhile, the median home sale price, $610,000, increased 14.0 percent during the same time period.
Uptown Sedona 2018 Days on Market and Absorption Rate
The inventory of available homes for sale in Uptown Sedona remains steady as 2018 started at 3.2 months. The number of new listings (52) for the year is 4 less than there were in 2017.
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 are affecting you or for a specific neighborhood, contact me for free information.
Uptown Sedona Current Listings
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