What happened to Sedona’s real estate inventory?

May 22, 2013

What happened to Sedona’s real estate inventory?

Sedona residential inventory peaked in September 2008 with 760 listed properties. The lowest reading was in September 2004 at 233.
At the end of April, residential inventory level was at 378 units and in spite of 2 consecutive monthly increases that can be attributed in part to the seasonal uptick of new listed properties in early spring, the trend line indicates a steadily shrinking supply.
There is a definite correlation between inventory and price levels. Inventory is an important leading indicator of future price movement. In Sedona, inventory bottomed in the 4th quarter of ‘04 and prices peaked in the fourth quarter of ‘06.
Prices started stabilizing and improving in mid 2011 while inventory was at 2002-2003 levels. It is safe to say that as long as inventory is in decline, prices will continue to improve.

By Elisa Andreis J.D. of Russ Lyon Sotheby’s International Realty (928) 274 1521 www.SedonaFineHome.com

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Northern Arizona Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Elisa Andreis are marked with the Broker Reciprocity SM logo or the Broker Reciprocity SM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

The information being provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

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Information deemed reliable but not guaranteed. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.