An early jump on our Spring buying season started a few months early in Sedona. Many factors are leading to higher sales numbers and both buyers and sellers are making deals happen. 1)Lower prices have led to the busiest January since 2006 2)Inventory is at a 5 year low. Traditionally this seems to pressure buyers to act more quickly and offer more money. Prices will start to rise as the absorption rate stays at 6 months or less (currently our sub $400k market is at a 6 month absorption rate!) 3)Unit sales and dollar volume are both still rising. Even the luxury segment of our market ($1M+) is coming to life with 4 sales in January.
4) Website activity is peaking and we’ve seen more people searching Sedona Real Estate than any other month in the last year.
5) Wall Street Journal – yesterday’s leading headline was “Cash Buyers Lift Housing”,followed by “Buyers in markets around the U.S. are snapping up homes in all-cash deals ,betting that prices are at or near bottom…The jump in real-estate purchases made with cash is another sign of the revival of animal spirits in the U.S. economy.”
Signs are looking up for a 2011 comeback for the Sedona Real Estate Market… call your agent for more details!
