Both home sales and home sale prices for the West Sedona real estate market saw improvements in October while the number of homes on the market has exceeded those seen last year.
West Sedona has seen a decrease of 2.0 percent in the number of homes sold for 2019 when compared to 2018.
The average home sales price has seen an increase of 1.6 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 10 day decrease to 125 days.
Here is an infographic with the breakdown of how the West Sedona Real Estate Market has done during 2019.
West Sedona 2019 Home Sales
For 2019, home sales in West Sedona has seen 195 sales which is a 2.0 percent decrease when compared to the homes sales of 2018.
Homes under $500,000 have made up 38.4 percent of sales, with homes priced between $500,000 and $999,999 accounting for 46.7 percent of sales. Homes priced over $1,000,000 have come in at 14.9 percent.
West Sedona 2019 Home Sale Prices
2019 has seen the average home sale price reach $657,325 in West Sedona which is an increase of 1.6 percent when compared to 2018.
Meanwhile, the median home sale price, $555,000, increased 3.7 percent during the same time period.
West Sedona 2019 Days on Market and Absorption Rate
The inventory of available homes for sale in West Sedona remains neutral as 2019 is at 6.9 months. The number of new listings (298) for the year is 25 more than there were in 2018.
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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