Sedona Real Estate Market continues to tick upward!

The Sedona real estate market continues to show signs of recovery with an increase of sales by 23% since 08. Our pending home sales are up by a whopping 150% (which includes foreclosures and short sales). However, of those pending numbers - 80% are either a foreclosure or a short sale home - 80%. That is staggering. The median price point is down from 08 by 21% to $429,000. This price represents all price ranges including the luxury market (over $1 Million). We are having buyer's come back into the market since the price point has dropped so substantially. Our inventory has dropped by 23%. Our bottom was in January with the median price point of $341,500. So we are somewhere in the trough. With the stock market continuing to rally, consumer confidence returning, and some signs that we are heading out of the recession, now would be the time to buy. For all your Sedona Real Estate Buying needs, I can be reached at www.barbarabaker.com, barbara@barbarabaker.com, or at 800-975-5943.