Both home sales and home sale prices for the West Sedona real estate market saw increases during 2017 while homes were spending less time on the market.
West Sedona has seen an increase of 3.8 percent in the number of homes sold for 2017 when compared to 2016.
The average home sales price remains strong with an increase of 9.4 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 33 day decrease to 150 days.
Here is an infographic with the breakdown of how the West Sedona Real Estate Market has done during 2017.
West Sedona 2017 Home Sales
For 2017, home sales in West Sedona has seen 216 sales which is a 3.8 percent increase when compared to the homes sales of 2016.
Homes under $500,000 have made up 54.6 percent of sales, with homes priced between $500,000 and $999,999 accounting for 38.0 percent of sales. Homes priced over $1,000,000 have come in at 7.4 percent.
West Sedona 2017 Home Sale Prices
2017 saw the average home sale price reach $574,874 in West Sedona which is an increase of 9.4 percent when compared to 2016.
Meanwhile, the median home sale price, $470,000, also increased 18.5 percent during the same time period.
West Sedona 2017 Days on Market and Absorption Rate
The inventory of available homes for sale in West Sedona remains low as 2017 finished at 5.9 months. The number of new listings (278) for the year is 22 more than there were in 2016.
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.
West Sedona Current Listings
Sorry we are experiencing system issues. Please try again.
What do you think?
Is there any other information you would like?
Interested in the Sedona real estate market?
What are your thoughts on how the real estate market is doing in West Sedona?
Please let me know what they are in the comments.