Rising Home Sales: Sedona Arizona Real-estate Market place Up-date
Here's a update with all the Sedona Arizona real estate market data for the 4th quarter of 2010 (1 October to 31 December).
Though foreclosure real estate in Sedona is a smaller portion of the marketplace, they are drawing a substantial percentage of the Sedona home sales. Generally, when purchasing a foreclosure home, at a bare minimum, you'll need to get the home caught up on home maintenance that has been deferred from the previous owner. More often than not they are broken and missing kitchen appliances.
This data has been extracted with the Sedona Verde Valley Multiple Listing Service (MLS) and comprises all residential homes, condominiums and attached townhomes. Locations 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 have also incorporated information from 3rd Quarter for comparison.
My personal findings:
* Homes units sold have improved 14% in comparison with 3rd Quarter, during a period of the year many of us normally observe a slow down in sales volume.
* Property foreclosure sales have jumped however the offered number of foreclosures have fallen.
* Foreclosed homes continue to beat normal property sales on the listing price to sold price ratio. Foreclosed homes are at 97.29%, and "Normal" sales 93.53% list price to purchased price.
* Marketplace times fell by over 10%
* Average purchase prices overall are stabilizing.
* Judging this information, I think we've found the bottom and are rising 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
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
Avg Days on Market for solds: 170
Avg List Price to Sold Price ratio: 93.97%
Avg Market Sold Price: $399,512
Total still active for sale: 35
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.