November 10, 2013

Sedona's rare beauty offered at $1,895,000 - 5Bed/5Bath, 0.9 acre with pool and amazing red rock views

View the Tour
Immerse yourself in elegance and charm. This Sedona private retreat sits on .9 acre in a quiet cul-de-sac. The circular driveway leads to a grand entrance and into a spectacular great room with floor to ceiling windows with panoramic red rock views. The home features 4 bedrooms plus study and gym. All living areas on main floor with separate downstairs TV room and gym. Commercial grade kitchen with Dacor appliances. The master suite features dramatic red rock views on 2 sides, a fireplace, 2 separate master closets and steam room. In-floor heating, flagstone and marble floors throughout the house. Gracious outdoor living spaces with multiple terraces and patios, built in BBQ, sweeping vistas, swimming pool, spa and water feature, as well as fenced in backyard, lawn and mature landscaping. The separate guest house is complete with 1 bedroom, kitchen/living room, separate garage and covered patio looking into the pool. Aviary for rare birds complete with TV, sound and water systems, also ideal for a workshop or a greenhouse. 4 car garage plus RV garage for motor home or boat. A rare Sedona gem.

November 04, 2013

Sedona Real Estate Market Update - November 2013

By Elisa Andreis J.D. Russ Lyon Sotheby's International Realty

This update looks at the residential real estate market during the months of September and October 2013 in relation to the same period a year ago and highlights the major trends.

11% increase in Median Sale Price
The median sale price was $388,250 in September and $356,000 in October. In 2012, median sale price was $368,233 in September and $308,667 in October.

33% reduction in Trading Range
The price difference between list price and sale price, known as Trading Range, has decrease from 5.67% in September and October 2012 to 3.80% during the same period this year.

9.6% decrease in Home Inventory
The number of homes for sale was 361 in September and 399 at the end of October. This compares with respectively 427 and 413 listed homes in 2012.

45% decrease in Residential Distressed Sales
Distressed property sales (foreclosures and short sales) fell to 9 from 20 in 2012. More significantly, the ratio of distressed property sales to the total number of sales fell from 23.8% in the fall of 2012 to 14.3% during the same months this year, representing a 60% decrease.

56% decrease of Days on Market (DOM)
While sales volume remained relatively tamed compared to a year ago (63 residential sales vs. 84 a year ago), a shrinking inventory has drastically reduced the time it takes to sell a home in Sedona. In 2012, homes were listed on average for 357 days in September and 251 in October before selling. During the same 2 months this year, DOM were reduced to 158 days and 186 days respectively.

80% increase in Building Permits Issued
Up to the end of September, the City of Sedona issued 43 permits for single family detached residential homes. This compares with 24 permits issued during the first 9 months in 2012 and 15 during the same period in 2011.
See complete Sedona Real Estate Market Update