The West Sedona real estate market has seen some exciting improvements recently.
The month of April saw about the same number of home sales as West Sedona typically saw from 2017 through 2020, which is great news if you were concerned about the housing market.
Despite the surge in home sales, the average price of homes in the area has remained steady at around $1.1 million, which is similar to last year’s prices.
One thing to keep in mind is that inventory levels are currently low, so if you’re looking to buy, you may have fewer options to choose from, and you’ll need to act quickly when you find a home you like.
On the other hand, if you’re selling your home, now is a great time to do so.
But be sure to price it accordingly and ensure that it is in move-in ready condition to stand out from the competition.
West Sedona has seen a 34.5 percent decrease in the number of homes sold for 2023 when compared to 2022.
The average home sales price has seen a decrease of 6.2 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 134 day increase to 222 days.
Here is an infographic with the breakdown of how the West Sedona Real Estate Market has done during 2023.
West Sedona 2023 Home Sales
For 2023, home sales in West Sedona has seen 57 sales which is a decrease of 34.5 percent when compared to the homes sales of 2022.
Homes under $500,000 have made up 1.8 percent of sales, with homes priced between $500,000 and $999,999 accounting for 49.1 percent of sales. Homes priced over $1,000,000 have come in at 49.1 percent.
West Sedona 2023 Home Sale Prices
2023 has seen the average home sale price reach $1,079,443, in West Sedona which is a decrease of 6.2 percent when compared to 2022.
Meanwhile, the median home sale price, $930,943, down 4.2 percent from the same time period.
West Sedona 2023 Days on Market and Absorption Rate
The inventory of available homes for sale in West Sedona is slightly up as 2023 is at 4.4 months. The number of new listings (46) for the year is the 42 less than there were in 2022.
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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