The West Sedona real estate market has remained strong with double digit increases in both home sales and home sale prices.
The number of available homes for sale has fallen below 5 months and is moving towards a stronger sellers market.
West Sedona has seen an increase of 22.9 percent in the number of homes sold for 2018 when compared to 2017.
The average home sales price has seen a shift and is now seeing an increase of 16.2 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 9 day decrease to 149 days.
Here is an infographic with the breakdown of how the West Sedona Real Estate Market has done during 2018.
West Sedona 2018 Home Sales
For 2018, home sales in West Sedona has seen 134 sales which is a 22.9 percent increase when compared to the homes sales of 2017.
Homes under $500,000 have made up 43.9 percent of sales, with homes priced between $500,000 and $999,999 accounting for 420.2 percent of sales. Homes priced over $1,000,000 have come in at 15.9 percent.
West Sedona 2018 Home Sale Prices
2018 has seen the average home sale price reach $675,673 in West Sedona which is an increase of 16.2 percent when compared to 2017.
Meanwhile, the median home sale price, $530,000, increased 22.4 percent during the same time period.
West Sedona 2018 Days on Market and Absorption Rate
The inventory of available homes for sale in West Sedona remains low as 2018 started at 4.4 months. The number of new listings (163) for the year is 10 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.
West Sedona Current Listings
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