While the West Sedona real estate market started off the year slower in home sales, home sale prices have seen a double digit increase.
West Sedona has seen a decrease of 12.5 percent in the number of homes sold for 2020 when compared to 2019.
The average home sales price has seen an increase of 10.8 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 86 day increase to 152 days.
Here is an infographic with the breakdown of how the West Sedona Real Estate Market has done during 2020.
West Sedona 2020 Home Sales
For 2020, home sales in West Sedona has seen 14 sales which is a 12.5 percent decrease when compared to the homes sales of 2019.
Homes under $500,000 have made up 35.7 percent of sales, with homes priced between $500,000 and $999,999 accounting for 52.1percent of sales. Homes priced over $1,000,000 have come in at 7.2 percent.
West Sedona 2020 Home Sale Prices
2020 has seen the average home sale price reach $663,224 in West Sedona which is an increase of 10.8 percent when compared to 2019.
Meanwhile, the median home sale price, $510,500, increased 21.0 percent during the same time period.
West Sedona 2020 Days on Market and Absorption Rate
The inventory of available homes for sale in West Sedona is slightly high as 2020 is at 7.8 months. The number of new listings (22) for the year is 8 less than there were in 2019.
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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