The West Sedona real estate market has seen a double digit increase in home sales while home sale prices are down double digits.
West Sedona has seen an increase of 36.0 percent in the number of homes sold for 2018 when compared to 2017.
The average home sales price started off slow with a decrease of 12.9 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 12 day increase to 173 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 34 sales which is a 36.0 percent increase when compared to the homes sales of 2017.
Homes under $500,000 have made up 52.9 percent of sales, with homes priced between $500,000 and $999,999 accounting for 32.4 percent of sales. Homes priced over $1,000,000 have come in at 14.7 percent.
West Sedona 2018 Home Sale Prices
2018 has seen the average home sale price reach $593,114 in West Sedona which is a decrease of 12.9 percent when compared to 2017.
Meanwhile, the median home sale price, $549,000, also decreased 12.6 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 6.1 months. The number of new listings (46) for the year is 5 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
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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