SEDONA HOME SALES - GOING UP
Here’s an update with the Sedona AZ real estate market statistics for the 4th quarter of 2010 (1 October to 31 December).
Although foreclosures in Sedona are a small portion of market, they are making up a significant portion of the sales. Typically, at a minimum, you will have to get the home caught up on maintenance that has been deferred by the previous owner. Many times they are damaged and missing appliances.
Information was extracted from the Sedona Verde Valley Multiple Listing Service (MLS) and includes all residential homes, condos and townhomes. Areas include West Sedona, Upper Sedona, Little Horse Park, Big Park, Red Rock Loop and the Village of Oak Creek. All have a Sedona zip code.
Below I’ve also included data from 3rd Quarter for comparison.
My observations:
- Homes sold have jumped 14% compared to 3rd Quarter, during a period of the year we typically see a slow down.
- Foreclosure sales have jumped but the available number of foreclosures have dropped.
- Foreclosures continue to out pace regular home sales on the list price to sold price ratio. Foreclosures 97.29% “Normal” sales 93.53% list price to sold price.
- Market times dropped by over 10%
- Average sale price overall is holding.
- Judging this data, I think we’ve seen the bottom and are coming off it.
4th Quarter 2010
Still active for sale: 442
Sold: 122 Up 14%
Avg Days on Market for solds: 150
Avg List Price to Sold Price ratio: 93.53%
Avg Market Sold Price: $381,814
FORECLOSURES
Currently Active for sale: 29
Sold: 43 (35.2% of all sales)
Avg Days on Market: 85
Avg List Price to Sold Price ratio: 97.29%
Avg Market Sold Price: $278,769
3rd Quarter 2010
ALL HOMES ON THE MARKET
Still active for sale: 475
Sold: 106
Avg Days on Market for solds: 170
Avg List Price to Sold Price ratio: 93.97%
Avg Market Sold Price: $399,512
FORECLOSURES
Total still active for sale: 35
Sold: 28
Avg Days on Market: 90
Avg List Price to Sold Price ratio: 98.57%
Avg Market Sold Price: $314,044
If you have any questions or if we can be of assistance, please let us know.
