Sedona West Subdivision
First 6 Months 2014
Sedona West transactions stayed on pace in the last 12 months with 16 transactions. With the exception of 2012 the number of transactions has remained steady around 15 transactions for the last 5 years, which mirrors the Sedona market over the last 5 years.
Median sales price for the last 12 months dropped to $340,000 from the recent high of $468,000 in 2013. With the small number of transactions at 16, a variation like this would not be considered out of the normal, especially in light of the number of sales remaining steady. All of the sales in the last 12 months were resale transactions of existing homes. Sales prices in the last 12 months ranged from a low of $216,000 to a high of $591,500.
Currently there are only 3 homes on the market in the Sedona West subdivision ranging in price from $345,000 to $454,500.
There have been three lots sell in the Sedona West Subdivision in the last 12 months with prices ranging from $70,000 to $115,000. As of this writing there are two lots currently on the market priced at $149,000 and $167,000.
Bottom Line: The Sedona west market along with all of Sedona should remain steady for the balance of 2014 with some upward pressure in pricing due to the low amount of inventory on the market. I am hopefull that we will see an upswing in the number of buyers from the upper Midwest and Northern tier states this late summer and Fall, wanting this last winter to be the last one they have to go through. All and all a steady market for the rest of 2014.