Even with an increase in the number of available homes and decrease in home sales, home sales prices in the Uptown Sedona real estate market have seen an improvement to start off 2018.
Uptown Sedona has seen a decrease of 25 percent in the number of homes sold for 2018 year to date when compared to 2017.
The average home sales price experienced an increase of 4.3 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 149 day decrease to 107 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 6 sales which is a 25 percent decrease when compared to the homes sales of 2017.
Homes under $500,000 have made up 33.3 percent of sales, with homes priced between $500,000 and $999,999 accounting for 66.7 percent of sales. Homes priced over $1,000,000 have come in at 0 percent.
Uptown Sedona 2018 Home Sale Prices
2018 saw the average home sale price reach $518,500 in Uptown Sedona which was an increase of 4.3 percent when compared to 2017.
Meanwhile, the median home sale price, $540,000, increased 13.7 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 8.0 months. The number of new listings (11) for the start of the year is 2 more 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
Internet Data Exchange (IDX) listings provided by Sedona Verde Valley Association of REALTORS® (SVVAR) MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data is deemed reliable but is not guaranteed accurate.
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