Sedona 2024 Real Estate Housing Market Statistics and Numbers

This year, the Sedona real estate market felt different—calmer, more balanced. There were more homes available, giving people like you a little extra breathing room to make decisions. Prices held steady, with some areas showing modest growth, but homes didn’t fly off the market overnight like they did a couple of years ago.

If you’ve been keeping an eye on things, you might have noticed that homes priced under $1 million stayed fairly competitive, while higher-priced properties sometimes lingered a bit longer. Sellers started offering creative incentives—like helping with closing costs or making repairs—to sweeten the deal.

Overall, 2024 felt like a market finding its footing. Whether you’re actively planning your next step or just watching from the sidelines, there’s a lot to learn from how this year unfolded.

A Quick Look at the Numbers

Active Listings:

In the most recent month, there were 255 active listings in Sedona, down from 289 in the previous month, marking a month-over-month decrease of 11.8%. Compared to the same month last year, which had 206 active listings, this represents a year-over-year increase of 23.8%.

For the entire year, the average number of active listings rose from 206.5 in 2023 to 256.7 in 2024, a year-over-year increase of 24.3%.

New Listings:

There were 23 new listings, down from 40 in the previous month, marking a significant month-over-month decrease of 42.5%. Compared to the same month last year, which had 54 new listings, this represents a sharp year-over-year decrease of 57.4%.

Across the year, new listings totaled 636 in 2023 and increased to 725 in 2024, reflecting a year-over-year growth of 14%.

Pending Listings:

The number of pending listings stood at 40, up from 35 in the previous month, a month-over-month increase of 14.3%. Compared to the same month last year, which also had 40 pending listings, there was no change year-over-year.

For the entire year, pending listings increased from 449 in 2023 to 486 in 2024, marking an annual rise of 8.2%.

Sold Listings:

This month recorded 43 sold listings, up from 37 in the previous month, a month-over-month increase of 16.2%. Compared to the same month last year, which had 46 sold listings, this represents a year-over-year decrease of 6.5%.

On a yearly scale, sold listings grew slightly from 465 in 2023 to 475 in 2024, an annual increase of 2.2%.

Sold Average Sale Price:

The average sale price for sold properties was $1,231,503, up from $1,098,060 in the previous month, a month-over-month increase of 12.1%. Compared to the same month last year, with an average sale price of $1,023,808, this represents a year-over-year increase of 20.2%.

For the entire year, the average sale price increased from $1,129,901 in 2023 to $1,163,242 in 2024, reflecting annual growth of 3%.

Sold Median Sale Price:

The median sale price for sold properties was $1,070,000, up from $985,000 in the previous month, a month-over-month increase of 8.6%. Compared to the same month last year, which had a median sale price of $928,000, this represents a year-over-year increase of 15.3%.

Annually, the median sale price increased from $912,433 in 2023 to $975,060 in 2024, a growth of 6.9%.

Average Days on Market:

Sold properties had an average DOM of 115 days, up from 106 days in the previous month, a month-over-month increase of 8.5%. Compared to the same month last year, which had an average DOM of 136 days, this represents a year-over-year decrease of 15.4%.

Year-over-year, the average days on market decreased significantly from 137 days in 2023 to 105 days in 2024, marking a 23.5% improvement.

What Do They Mean?

Inventory Levels

The average number of active listings increased by 24.3% year-over-year, signaling more properties available on the market. However, the steep monthly drop in new listings (-42.5%) raises concerns about a slowing inflow of fresh inventory.

Sales Activity

Pending listings show stability with an 8.2% year-over-year increase, while sold listings grew modestly by 2.2% annually. The market remains active, but the monthly decrease in new listings suggests sellers may be hesitant to list properties.

Pricing Stability

The annual average sale price increased by 3%, and the median sale price rose by 6.9%, highlighting consistent demand and price appreciation. However, these increases are moderate, indicating a more balanced market.

Looking Ahead

Price Projections

If inventory remains elevated and new listings slow, pricing may stabilize. Mid-market properties continue to attract consistent demand, while higher-end properties may see pricing adjustments.

Economic Indicators

Stable interest rates and economic conditions will be crucial for market momentum. A decline in rates could attract more buyers, supporting property values.

Seasonal Trends

The typical seasonal slowdown in fall might reduce activity, but rising average prices and consistent pending sales suggest the market still holds strength.

What Type of Market Are We In?

The Sedona market leans towards balance. Inventory growth gives buyers options, while stable prices favor sellers. Properties under $1 million remain competitive, while luxury segments may experience pricing adjustments.

How Does This Affect You?

For Buyers

Increased inventory offers more choices. Stable prices suggest this may be a good time to make a purchase without the pressure of skyrocketing costs.

For Sellers

With rising inventory, competitive pricing is essential. Overpricing risks prolonged market time, especially in the luxury segment.

For Investors

Look for long-listing properties or motivated sellers for opportunities. The mid-market range continues to show resilience.

If you have any questions or need personalized advice, don’t hesitate to reach out. Whether you’re looking to buy, sell, or invest, I’m here to help you navigate the Sedona real estate market successfully.

For more information on how these numbers affect you or for a specific neighborhood analysis, contact me today for a free consultation!