The slow winter season has begun, but it's been a heck of a ride for 2016. It started off busy, heated up even more in Spring and then seemed to slip a bit during the summer. Our busy fall season was late to start and came and went quickly.
From the Blogs
It's the tail end of fall - and we've still got 20 shades of yellow and red leaves on the trees - which will probably be falling during our next storm. The Fall "busy" market for real estate here in Sedona finally ramped up, but it was a slow start to the fall season and it was short lived.
Yes, I spelled Oktober with a K. Just a habit after all of the Oktoberfest preparation around here for the Rotary Club of Sedona Red Rocks fundraiser earlier this month... Red Rocks Oktoberfest. It was a bit earlier than normal this year, but look for it to be back in the middle/end of the month in 2016 and beyond. It was a great celebration of AZ Brewers - with 9 breweries and two local bars providing their wares for Sedona's main beer festival. Hope to see you all there next year.
Activity levels still seem high, but there are signs of the spring market slowing down a bit. Per my status update 2 weeks back, there are 7 less properties on the market and 7 less in escrow. So, the market's evening out - but look for activity levels to drop a bit when the summer months arrive.
Activity is still hot in the Sedona real estate market with 46 residential units (homes, condos, etc) selling last month. There are 434 on the market, but a whopping 82 are already tied up with other buyers. That's one of the fastest moving times in a few years. The average price per square foot in Sedona is now up to $212 - up from the trough of the market in 2011 at $173. That's a 20% rise in average price per square foot in that time spread! Check the most recent stats at http://sedonaforsale.com/
OK... inventory is up a little bit - as we're currently at 430 residential units on the market, but there are a whopping 80 already tied up with buyers - making a total of 350 truly available places in Sedona. If we take out condos/townhomes/manufactured homes - we're left with only 296 available single family homes in the Sedona area. There are only 17 homes left in town priced under $300k.