|Sedona Real Estate Market
Sedona Real Estate Market Up for the First Time in Over 4 Years!!
August - 2011
Buyers are buying! Home inventory is the lowest it's been in 4 years and with our warm weather more buyers are hanging around longer into late summer and early fall.
As of this August there are currently about 480 homes on the market with about 13% of them already in escrow. Things are starting to look up for the sellers in this market and many are getting a fresh start with new buyers coming into the beginning of our school year.
Although short sales and foreclosures have dominated the market in the past few years only about 70 of the current homes on the market now fit this profile of distressed properties.
Luxury Sedona homes are the big ticket item this summer and fall. With over 15 sales topping over the $1 million dollar mark for closed homes. The market is fairly balanced though with homes in the $400K range doing better and those in the lower range selling faster. Many homes are closing in under 2 months which is kind of unheard of around here lately. Some sellers are even seeing multiple offers which is a great sign of things turning around.
Mortgages are still really low and this enables buyers to find a better home and a lower price while still finding a loan payment that fits their budget easily!
Want to know more? Looking to sell in this hot market? Find out how we can price your home right the first time and get it sold to the right buyer.
Contact me today at 928-607-9610, email me at firstname.lastname@example.org or send me the form below to get started on your Sedona property listing!