2016 saw a slight increase in the number of home sales while the number of available Sedona homes for sale was lower. Meanwhile, home sale prices saw a pretty significant increase during the year. This was due to more home sales in the $500,000 to under a million dollar price range.
Interested in how the Sedona real estate market is doing this year?
Sedona saw an increase of 2.2 percent in the number of homes sold for 2016 when compared to 2014.
The average home sales price saw a rise with an increase of 7.4 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 during 2016 was 186 days.
Here is an infographic with the breakdown of how the Sedona Real Estate Market did during the year.
Sedona 2016 Home Sales
2016 saw 520 home sales in Sedona which was a 2.2 percent increase when compared to the homes sales of 2015.
Homes under $500,000 made up 61.7 percent of sales, with homes priced between $500,000 and $999,999 accounted for 33.5 percent of sales. Homes priced over $1,000,000 came in at 4.8 percent.
Sedona 2016 Home Sale Prices
The average home sale price, $514,198, in Sedona saw an increase of 7.4 percent when compared to 2015.
Meanwhile, the median home sale price, $442,250, which was up 13.4 percent during the same time period.
Sedona 2016 Days on Market and Absorption Rate
The inventory of available homes for sale in Sedona remains low as the year finished at 6.2 months. The number of new listings (705) for the year was below those seen during 2015. For the year, the average number of new homes for sale per month was 59 homes.
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.
Sedona Current Listings
What do you think?
Is there any other information you would like? What are your thoughts on how the real estate market is doing in Sedona? Please let me know what they are in the comments.
