Joel Gilgoff’s Real Estate Newsletter
Joel Gilgoff’s Real Estate Newsletter
September/October 2006
Joel Gilgoff, associate broker, president - RE/MAX Sedona
Real Estate News: The overall Sedona real estate market remains strong. The best buys now are homes priced under $500,000. There is far more inventory of home and vacant lots available than this time last year. Prices have not dropped – but the slowing of the sales pace has brought more inventory to the market and a more orderly sales process. There are far fewer instances of multiple bids for the same property. Sedona tourism was booming in 2006 (through June)! The two recent fires slowed tourism for much of the summer. Fall bookings are going back to normal. Tourism drives everything in Sedona and this increase in tourism may be the precursor to another run-up in home sales – so if you plan on a purchase in the Sedona area this may be your best buying opportunity.
In the meanwhile – there are still some new and resale Verde Santa Fe units available to be purchased now starting at under $300,000. The new community of Mountain Gate, located about 20 miles south of Sedona in Clarkdale (30 minutes) has both town-homes and regular estate homes available with prices starting under $200,000. These are the two most affordable areas at the current time.
We now have three Bed and Breakfasts for sale: The Lodge at Sedona (www.lodgeatsedona.com), Saddle Rock Ranch (www.saddlerockranch.com) and Cozy Cactus Bed & Breakfast (www.cozycactus.com). If you have interest in a Sedona B & B – these are 3 great properties – priced from about $1.3 million to $4.3 million. Please just give us a call for an information package or see our web-site listings page for virtual tours of both inns (www.sedona-real-estate.com/property1.htm).
For those of you who like statistics and numbers, here are some numbers as of September 5, 2006 (1/1/06 to 9/5/06).
Number of listed homes & condos in all of the Sedona market:
482 (was 372 - 60 days ago).
Number of homes & condos listed below $400,000:
53 (was 53.- 60 days ago)
Number of homes listed over $1 million:
87 (was 74, 60 days ago).
Median listed price:
$649,900 (was $629,900 60 days ago).
Number of homes & condos sold year to date:
345 (71 home sales in the past 60 days) (42 sold for over $1 million)
Median sales price of all homes and condos sold:
$550,000 (was $530,000 through May 10, 2006)
Number of listed home-sites in all areas of the Sedona market:
313 (was 325 – 60 days ago)
Number of lots listed below $300,000:
50 (was 36 - 60 days ago, 23 - 120 days ago)
Number of lots listed above $1,000,000:
30 (was 30 – 60 days ago)
Median listed price:
$469,000 (was $469,000 – 60 days ago)
Number of home-sites sold year to date:
99 (10 per month over last 4 months).
Median sales price:
$510,000 (was $505,000 120 days ago – median keeps increasing slightly)
Real Estate Listings: Click on the links below to see our listings or our office listings as they appear in Realtor.com or all of the Northern Arizona listings as they appear in the Northern Arizona Multiple Listing System (NAMLS) (including photos). You can alos see virtual tours of the B & B’s we have listed on our web-site listings page. Please call or email (ljestewart@commspeed.net) if you would like additional information on any of our listings..
Lori, Skip & My Listings:
http://www.realtor.com/FindReal/ViewInventory.asp?mls=sedonaverde&aid=50088891
To Search our full MLS (this includes properties all listings in the Verde Valley & Sedona (includes Cottonwood, Camp Verde, Clarkdale, Cornville & Lake Montezuma):
http://www.sedona-real-estate.com/property1.htm
Click where it says: “Click here to search the current Sedona Verde Valley MLS (Multiple listing system) database to see active homes and land”. You can also sign up to be notified when new listings meeting your search criteria come on the market.
Southwest Inn at Sedona: As I mentioned above this has been the busiest tourism year ever in Sedona. We suggest booking early for your choice of dates and rooms. The Southwest Inn has not raised its rates! We have some rooms left for most dates this month and next –with rates starting at $119 per night through 9/21. We feel that our Inn represents a great value to our guests – and our guests rave about us!
You can check rates and availability – and book your room at:
http://www.webervations.com/magic-scripts/resbook.asp?memberid=swinn
or check out our property at: http://www.swinn.com