2020 saw the Sedona real estate market finish the year with the demand for homes far outpacing the number of homes coming onto the market. This resulted in higher home sales prices and a severe shortage in the inventory of homes for sale.
Interested in how the Sedona real estate market is doing this year?
Sedona has seen an increase of 17.8 percent in the number of homes sold in 2020 when compared to 2019.
The average home sales price has seen an increase of 23.2 percent for 2020 over last year.
The Sedona Verde Valley Board of REALTORS® (SVVAR) reported that the number of days that homes that sold were on the market during 2020 has jumped to 143 days from 114 in 2019.
Here is an infographic with the breakdown of how the Sedona Real Estate Market has done during 2020.
Sedona 2020 Home Sales
2020 has seen 747 home sales in Sedona which is a 17.8 percent increase when compared to the homes sales of 2019.
Homes under $500,000 made up 31.1 percent of sales, with homes priced between $500,000 and $999,999 accounting for 51.5 percent of sales. Homes priced over $1,000,000 came in at 17.4 percent.
Sedona 2020 Home Sale Prices
The average home sale price, $743,900, in Sedona has experienced an increase of 23.2 percent when compared to 2019.
Meanwhile, the median home sale price, $615,000, up 17.1 percent during the same time period.
Sedona 2020 Days on Market and Absorption Rate
The inventory of available homes for sale in Sedona is extremely low as the inventory for the year is at 2.6 months. The number of new listings (858) for 2020 is 10.1 percent above those seen last year.
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 affected you or for a specific neighborhood, contact me for free information.
Sedona Current Listings
What do you think?
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