Softer Real Estate Market in 2019
As we approach the halfway point in 2019 it looks like the Sedona real estate market is showing signs of getting soft according the the Sedona Verde Valley Association of Realtors® (SVVAR). While the values are not necessarily declining, the total closed sales volume has gone down.
According to SVVAR in 2019 the year to date (YTD) stats show the entire market has closed a total of $442,063,862 in sales volume as of 6/7/2019. During the same period in 2018 the total YTD sales volume was $505,399,850, a change of (-13%). If you own a home in Sedona you may want to know the closed volume has decreased from $216,406,245 to $190,940,704, a change of (-12%) for the same time period.
Inventory remains lower than normal, and if it were to increase significantly it could cause a drop in home values. As of 6/7/2019 there are 193 single family homes actively for sale between Sedona and the Village of Oak Creek. There have been a total of 193 SFR closed sales since January 1st compared to 235 for the same time period in 2018 (-18%).
If you’re looking at possibly selling your Sedona home then the best first step is to get regular updates in the market you’re in from a professional Realtor®.