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QUICK STATS ON THE SEDONA REAL ESTATE MARKET
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“THE FACTS AND NOTHING BUT THE FACTS”
(The Value Statistics on Sedona )
REMAX SEDONA - August 25th, 2008
Luxury Market in Sedona & the Village of Oak Creek
Median Price - $1,470,000
3 year Absorption Rate - at this rate... it will take 3 years to move our current inventory
HOME MARKET UNDER $1,000,000
SEDONA/Village of Oak Creek
Median Price - $480,000
2 2 year Absorption Rate - it will take 2 years to move the current inventory
Land - Sedona (Sedona and the Village of Oak Creek)
Median Price - $246,000
7 year Absorption Rate - it will take 7 years to move the current inventory
Sedona Condo Market (Sedona and the Village of Oak Creek)
Median Price - $270,000
2 year Absorption Rate - it will take approximately 2 years to move the current inventory
Given the facts that the summer months are usually slower – there appears to be some parts of our market that are SLOWLY rebounding.
Buyers
Buyer’s Market. HOWEVER, as you can see… prices are starting to rebound and sales are doubling. What does this mean? GET OFF THE FENCE! BUY NOW! Large inventory, anxious sellers, interest rates still good..Call me to discuss the opportunities that Sedona has to offer at 928-301-0669, barbara@barbarabaker.com or www.barbarabaker.com
For Sellers
It’s all about PRICING A PROPERTY TO SELL! If you are a Seller who has good amounts of equity in your property, the price needs to be adjusted until it sells. Otherwise, you will remain on the sidelines. The small amount of buyer’s that are out there – are looking for bargains. So…if you have to sell…BITE the bullet, and price your property AHEAD of everyone else by a good amount and you will attract the Buyer. Be Prepared that you will get an offer lower than your asking price – but when working with a good agent – you should be able to negotiate the deal UP!
If you are a Seller who can wait while our market continues to adjust, you will be waiting a long time. True Statement. You can help us all by not putting your home on the market or currently taking it off the market if there is an unrealistic price attached to it. No one knows how long this market will adjust itself. Price to sell in the next 3 months – Think outside of the norm – Price it to sell! I am here at your service to discuss your selling needs, strategies, and goals! The best contact number is 928-301-0669, barbara@barbarabaker.com, www.barbarabaker.com.
I hope this market analysis has been helpful. I am committed to continuing to provide you with this valuable information and to help you with all your Real Estate Needs.
Warmest Regards,
Barbara Baker – RE/MAX - Sedona
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