2017 Sedona Home Sales Review

Increasingly, Sedona is a popular destination for visitors from around the world. Some visitors are struck by the beauty and lifestyle offered by Sedona and decide to become.  Sedona is encompassed by the Coconino National Forest and its breathtaking vistas, it’s a captivating and exciting place to live.  The introduction of Sedona to so many   visitors has helped promote strong housing demand. 

The Sedona real estate sales market saw substantial progress throughout 2017 but in particularly June. In June the sale of Sedona homes suitable for short term vacation rental was incredible.   Perhaps the way to realize where home sales are going is to see sales comparisons with annual data .

Sedona homes for sale

Sedona Homes sold (single family residential)

Year

Active 12/31

# Sold

Days on Market

Avg Cost Sqft

Avg Price

2015

233

409

210

217

528,218

2016

194

425

194

230

564,062

2017

188

465

196

242

613,697

Currently 176 Sedona homes for sale Update homes for sale

Sedona Luxury Homes Over $1 Million*

Year

# Sold

Days on Market

Avg Cost Sqft

Avg Price

2015

28

317

336

1,513,000

2016

27

322

387

1,598,000

2017

41

360

328

1,508,000

Currently 51 Sedona luxury homes for sale Update Here

Sedona Condominiums & Townhomes

Year

# Sold

Days on Market

Avg Cost Sqft

Avg Price

2015

100

169

188

277,000

2016

95

152

208

259,000

2017

124

124

228

321,000

Currently 21 Sedona Condos for sale  Update condos for sale

Sedona Horse Properties – Sedona is a great place for equestrian activities. Lots of trails

Year

# Sold

Days on Market

Avg Cost Sqft

Avg Price

2015

16

209

252

745,000

2016

15

223

361

955,000

2017

18

383

290

879,000

Currently 21 Sedona horse properties for sale Update horse properties for sale

Homes for sale in Sedona

We expect 2018 to be a great year for Sedona real estate sales for many factors. 

 

OTHER FACTORS TO CONSIDER

1.      As a vacation destination, Sedona is beginning to challenge the Grand Canyon as the #1 destination in Arizona.  Tourist numbers have climbed to around 3M per year. The introduction of Sedona to an ever increasing numbers of tourists has positively aided growing demand for real estate.

2.      A causative factor as well is the national recovery of the economy.  Many areas of the US are seeing homes sell now. This allows people from other areas to afford to come to Sedona.

3.      State Bill 1350 – An Arizona law that prohibits local and county governments from limiting vacation home rentals (More Info).  Home Owner Associations (HOA’s) including Condo Associations can still restrict rentals through CC&R’s.  The majority of HOA/POA/COA’s do limit short term vacation home rentals.  Most impose a 30 day minimum  period but some are more restricted. This triggered a buying frenzy on non-HOA homes with most new Sedona homeowners wishing to do either full or part time vacation home rental.  It’s an opportunity to have a second home that also pays back. Something difficult to do in the past due to City of Sedona restrictions.

4.      Surrounded  by Coconino National Forest. Sedona and has a limited area that could possibly be developed.  By Statute, the National Forest if forbidden from selling land so Sedona isn’t likely to grow beyond its current borders. With constrained growth, supply and demand will push Sedona home sales prices up.

5.       Many of our clients are departing high tax states and cities for Arizona.

Stop by our website to search for Sedona homes for sale or to be notified when Sedona properties come on the market that fit your criteria.  Selling in Sedona? To find out what your home is worth in the current market email me (Susan Deierling) or call 928-451-6098.

Home sale market data for Sedona, AZ provided by Susan P. Deierling, Associate Broker at Realty Executives Northern Arizona and is derived from data from the Sedona Multiple Listing Service (MLS).