2023 saw the Uptown Sedona real estate market experience a drop in home sales while the number of homes that came on the market decreased even more.
This is quite significant, as it resulted in a decrease in the inventory of available homes for sale.
Uptown Sedona saw a 25.5 percent decrease in the number of homes sold for 2023 when compared to 2022.
The average home sales price experienced an increase of 5.9 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 is up 43 days to 100 days.
Here is an infographic with the breakdown of how the Uptown Sedona Real Estate Market did during 2023.
Uptown Sedona 2023 Home Sales
For 2023, home sales in Uptown Sedona has seen 38 sales which is down 25.5 percent when compared to the homes sales of 2022.
Homes under $500,000 have made up 0.0 percent of sales, with homes priced between $500,000 and $999,999 accounting for 34.2 percent of sales. Homes priced over $1,000,000 have come in at 65.8 percent.
Uptown Sedona 2023 Home Sale Prices
2023 has seen the average home sale price rise to $1,354,517, in Uptown Sedona which was an increase of 5.9 percent when compared to 2022.
Meanwhile, the median home sale price, $1,197,500, increased 1.9 percent during the same time period.
Uptown Sedona 2023 Days on Market and Absorption Rate
The inventory of available homes for sale in Uptown Sedona finished up 2023 at 3.5 months. The number of new listings (45) for the year is 26 less than there were in 2022.
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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