Centrally located in West Sedona, the Western Hills Subdivision has long been one of the more popular locations for Sedona real estate buyers. With Chimney Rock, Capital Butte and Sugarloaf located adjacent to the northern border of the subdivsion many of the most popular Sedona hiking trails are just minutes away, truly it is an outdoor recreation paradise.
Western Hills is located in the heart of West Sedona nearby to all of the shopping entertainment and dining that West Sedona has to offer. Real estate sales in Western Hills have remained relatively constant over the last 12 years inspite of the overall market activity. The number of sales in Sedona West peaked in 2001 with 17 sales and have remained relatively steady in the 10 to 14 sales range for for 7 of the last 12 years. 2012 looks very promising with 5 sales closed year to date and 3 of the 9 active listings under contract.
The median sales price in the Western Hills Subdivision has been on the same roller coaster that the rest of the Sedona estate market has been experiencing. Pretty steady 2000 to 2002, then the meteoric rises began in 2003 and 2004 capping off with a 43% increase in 2005 over 2004. Prices were again steady after taking a big drop in 2008 and another big drop in 2011, primarily due to distressed (foreclosed and short sales) properties coming on the market.
Bottom Line: There are only 9 active listings available in the Western Hills subdisvion as of this writing and 3 of them are under contract. Inventory over the entire Sedona Real estate market is down, interest rates are at historic lows, single family sales are outpacing any year since 2006. Are you getting the picture. 2012 is the year of the recovery in Sedona real estate.