Verde Valley Residential Update: January – December 2019

Residential properties in the Verde Valley reached a median price of $314,813 in 2019, 7.6% above year-ago (YA). Rimrock came in first with growth of 17.6% vs YA, followed by Clarkdale (14.9%) and Camp Verde (13.0%). Sedona was last with a median price increase of only 2.4% vs. YA. In terms of units sold, Clarkdale led the pack with 34.6% more units sold vs. YA. While the gap in median price between Sedona and the other towns in the Verde Valley is still large, the gap narrowed in 2019. Camp Verde has seen significant price increases because of several new developments including the new Medical Center. Rimrock may also be benefitting from that due to proximity. Clarkdale continues strong growth due to new construction. Results of 2019 show a clear correlation of price growth with inventory. Sedona had a 5% increase in new listings in 2019 and its median price grew the least, whereas inventory declined in Rimrock (-5%), Clarkdale (-9%) and Camp Verde (-12%) with resulting large price increases.

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