Future of Sedona Condominum Sales
Many buyers come into to the Sedona Homes for Sale marketplace not wanting a typical home but the ease and safety of a condominium. All of the Sedona AZ Condominium Association will have some kind of monthly fee associated with them. Most of these fees typically cover "common expenses" shared by all owners, i.e. outside common area maintenance, exterior insurance on the building, exterior maintenance of the buildings, pool care and cleaning, etc. Most of my buyer's who have purchased condominiums do so because the condo serves as a true 2nd home and the owner doesn't want to worry about the exterior of the building while they aren't here for the remaining part of the year. The Sedona AZ Condo Market has much diversity when it comes to this style of living and area and a broad range of pricing from the mid 150K to 500"s. Typically they are spattered throughout West Sedona and the Village of Oak Creek. In comparing the last 2 years the amount of condominium and patio homes sold, actually rose by 1%. But like the Sedona AZ Home for Sale market, the average sold price has dropped by 10% to $250,000, I do think that those prices will continue to decline with the small but still pressing occassional foreclosure pulling the pricing down even further.