30 Oct Real Estate in Sedona: Market Trends Fall 2020
Thinking about jumping into the beautiful waters of the Sedona real estate market? Wondering whether it might be time to erect the “For Sale” sign in front of your Sedona home and move on to your next venture? In either case, this post is for you! Below we’ll break down the latest housing market trends and what they mean as of Autumn 2020. (All stats & graphs courtesy of Realtor.com).
Is it a Buyer’s Market or a Seller’s Market in Sedona?
With a sale to list price ratio of 97.63%, Sedona is currently considered a “seller’s market”. What this means is that on average homes in Sedona sold for only 2.37% under the asking price. While this does mean Sedona sellers are currently in the driver’s seat, it’s not so much so that buyers aren’t still finding a reason to buy, which brings us to our next point…
Are Homes in Sedona a Good Investment?
Home prices in Sedona have continued to trend upward over the last year. As of September 2020, the median list price was up 15% year over year, at $598K. The median sale price was $569.5K.
Sedona Home Availability
What are the odds you’ll land the Sedona home of your dreams? You’ll have to act decisively! The current median time on the market is 79 days. There are a total of 465 homes available for sale in Sedona, 25 of those hitting the market in just the past week!
As you can see, Sedona is a hot market and you’ll need a real estate agent that can act quickly and advise you with the right local knowledge. The COLLINS TEAM can do just that! Give your local Flagstaff & Sedona real estate agents a call today at (928) 230-5168 or send us a message!