We’ve been told by some clients that Sedona homes are just to expensive, or it’s overpriced. We can state that it’s not overpriced as Sedona homes are appraising easily for the sales price. Affordability is a difficult concept and getting people to agree on whats affordable is almost impossible.
We have a lot of people moving to Arizona from California. They are drawn by the lower taxes and affordable housing. However, when we speak to people from Texas or the Midwest, we are often told that the Sedona home prices are “ridiculous” and “they are going to have to come down a lot on the price”. Unfortunately, the Sedona real estate market is determined by supply and demand. Currently, the list to sold price ratio in the Sedona MLS is running at 96.5%+. During the next couple months that will likely get closer to 100%.
Sedona is surrounded by National Forest so we only have a finite amount of developable land. We have 4 million tourists a year which means Sedona is exposed to a wide range of people. Sedona is one of the most beautiful places in the world and we are privileged to live here. But, if the price is to high, we have viable alternatives in the surrounding communities.
April 25, 2017 – Closed sales from past 6 months
|City||Avg Home Sale (single family, stick built home)|
What are prices in other areas like?
Sedona List to Sale Price Ratio
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