The median sold price of properties in the Verde Valley in Jan-Jun’19 was ahead +13.8% vs. year-ago, with Rimrock and Clarkdale leading the advance with +18.4% and +17.8%, respectively. Sedona price was essentially flat at -2.3% vs. YA. Sedona median home price is $491K, more than double Rimrock’s, Camp Verde, and Cottonwood’s median price, which suggests buyers are looking for better deals in surrounding towns. Clarkdale’s residential development bringing many new homes to the market is shown by +64.4% growth in units sold vs. year-ago. The inventory situation remains low. Inventory growth indexes are not showing this as inventory was already low in the base year of 2018. For perspective in Jan-Jun’2006 the last market height, Sedona had 632 new listings (vs. 469 now) and the Verde Valley had 1,787 new listings (vs. 1,099 now).
(1) Median Price means that 50% of the sold homes were above this number and 50% below it.
Thinking of selling a home?
If you have been thinking about selling your home, this is the time to do it. We are in a “Sellers Market”, with low home inventory, pressing prices higher. Start by getting a free Comparable Market Analysis for your home here: http://agsedonarealestate.com/sellers/. Just request one and it will be sent to your inbox. Then, go to useful tips on preparing your home for sale. Also, make sure to visit the “Pricing and Hoverers” page to learn the dynamics of pricing in real estate.
Thinking of buying a home?
Go to http://agsedonarealestate.com/buyers/ and http://agsedonarealestate.com/area-info/ for useful information on neighborhoods, weather, schools, county assessor and learn how Arizona manages water for our future benefit – an important consideration in your decision on where to relocate.
If you would like a consultation to discuss your real estate interests, please text or call me at 928.821.8552.