Residential properties in the Verde Valley saw a median price increase of +7.2% vs. YA in the Jan-Oct’19 period, with Rimrock leading the pack at (+14.6% vs YA), followed by Clarkdale (+8.3% vs. YA), and Camp Verde (+7.8% vs YA). Sedona showed the slowest median price growth at +2.7% vs. YA and the number of sold listings (551) was -6.5% vs. YA, whereas the whole of the Verde Valley (1398) was down only -1.1% vs. YA in sold listings. Noteworthy, the Verde Valley saw a 1% increase in new listings, with Sedona showing the greatest increase at +6% vs. YA. The improved inventory situation in Sedona was probably a reason why median prices did not go up more (only +2.7% vs. YA). Clarkdale continues to show a high growth in units sold (117, +41% vs. YA) as more new homes are being built there than anywhere else in the Verde Valley.
(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 very low home inventory, pressing prices even 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.