Sedona Real Estate And Sedona Homes For Sale Rebounding

Posted By Barbara Baker @ May 15th 2010 5:00pm In: Sedona Real Estate

Well so far the stats for this spring are wonderful in all sectors.  In our single family homes the number of Solds were up by 86% from this time last year.  With 44% of those solds being either a foreclosure or a short sale. The median price point has dropped by 8% from this time last year to $390,000.  Prices are starting to stabilize a bit.  I am still skeptical as I don't think prices are going to rebound anytime soon - I think they will hover around the bottom or close to the bottom - since we haven't seen that huge drop in prices as reflected from 08-09- when the median sold price plunged from $528K to $424K. The stabilization of price is also showing in that the median price of homes under contract is around $389K - which goes along with the median sold price of $390K.  But I say that with a grain of salt - for as we have all seen, and continue to see, the housing market is paramount to the fragile US economy which is slowly showing signs of recovery from many sectors.  I still feel the FEDS are going to have to do something drastic about the shadow inventory of Foreclosures that are plaguing and will continue to plaque all housing markets. However, if you are thinking of purchasing any sedona homes for sale the opportunities are here - as many happy New Sedona Home Owner's will attest to.  I can be reached the old fashioned way at 928-301-0669, email at, website at or on facebook at Barbara Hooyman Baker.  Next blog - Vacant Land - Sales are up!

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