2017 Sedona Real Estate Market Analysis
Sedona has become an increasingly popular destination for travelers from around the globe. It’s an easy transition from visiting to residence in such a lovely area. Surrounded by National Forest and beauty, it’s a captivating and exciting place to live. The exposure of Sedona to larger numbers of visitors has certainly helped fuel a stronger real estate market.
The Sedona real estate market saw significant growth throughout 2017. I think the best way to see where the market is potentially going is to see year over year data.
Sedona Homes sold (single family residential)
Currently 176 Sedona homes for sale Update homes for sale
Sedona Luxury Homes Over $1 Million*
Currently 51 Sedona luxury homes for sale Update Here
Sedona Condominiums & Townhomes
Currently 21 Sedona Condos for sale Update condos for sale
Sedona Horse Properties – Sedona is a great place for equestrian activities. Lots of trails
Currently 21 Sedona horse properties for sale Update horse properties for sale
We expect 2018 to be a great year for Sedona real estate sales for many factors.
Other Factors to Consider
1. Sedona is a tourism destination that is starting to rival the Grand Canyon. The number of visitors has risen to around 3,000,000 per year. The exposure of Sedona to larger numbers of visitors has certainly helped growth.
2. Another contributing factor across the nation is the continued economic recovery. Most of the nation is seeing home prices rise.
3. SB1350 – State law prohibiting local government from restricting short-term vacation rentals (Learn More). Home Owner Associations (HOA’s) may keep or impose restrictions. The large majority of HOA’s restrict short term rentals. Many impose a 30-day minimum rental period while others have a 6-month minimum. This has caused a rush on non-HOA homes with many new owners wishing to do either full or part time vacation rentals.
4. Sedona is surrounded by National Forest and has only a finite area that can be developed. With restricted future growth. Supply and demand will force prices upward.
5. We find many new clients are leaving high tax states for Arizona. Low taxes and a stable state government are among the most common reasons we hear.
Visit our website to search for homes in Sedona or to be notified when Sedona homes come on the market. To find out what your home is worth in the current market email me (Susan Deierling) or call 928-451-6098.
