Land Ho is up in the Sedona AZ Home Market
Land Ho! After dropping like a ton of bricks off a tall building, I am happy to report that we are seeing the vacant land pricing come back in Sedona AZ. The median recorded selling price of vacant residential land is now on par with 2001 pricing. The high point for vacant land in recent years was in 2006 when prices topped out at (are you sitting down) $520,000. They are now at... ( are you still sitting down) less than $135,000. Foreclosures have caused the land to drop and we have seen even the high end luxury subdivisions like Cross Creek Ranch and The Aerie take hits. All great news for buyers. The land is slowly starting to tick back up so if you have been dreaming on building a Sedona AZ Home - now would be the time to write a check on a great piece of dirt!
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