Ahhhh, the election is over, the holidays are over, and the New Year is here!  So much to be thankful for and to look forward to!  I've compiled the Sedona real estate statistics for 2024 for your review.  Click here to see all the year-end stats:

SEDONA 2024 REAL ESTATE STATISTICS

Homes Sold Surpass 2023 Levels

At the end of the 3rd Quarter, we weren't sure if 2024 would surpass 2023 in the number of sales. The 4th Quarter did come through with flying colors making the total for the year 397 single-family homes sold. That is a 9% increase over 2023 leaving 2023 with the record for the least number of sales. This increase highlights a renewed confidence among buyers.

Stable Pricing

The price per square foot and the overall average price of a home remained steady, with only a very slight 2% increase compared to 2023. This stability offers both buyers and sellers a dependable market landscape to navigate. I'm predicting that 2025 will continue to see an increase in pricing.

Inventory Levels Continue to Rise

The current inventory stands at 141 single-family homes, with 34 pending sales. This is a significant improvement compared to the end of 2020 when only 48 homes were on the market. However, we’re still working toward pre-pandemic inventory levels, where we had 182 available homes at the end of 2019.  Seventy percent of our inventory is priced over $1M making Sedona prohibitive for many. There will still be opportunities for good deals as more inventory becomes available and seller competition increases.

Encouraging Signs for 2025

Early indicators for 2025 suggest even better market conditions. Buyer activity is increasing, and more sellers are inquiring about property values, indicating potential new listings. It is still too soon to know for sure, but these trends point to a balanced and dynamic market in the coming year.  I'll continue to keep you informed throughout the year.

Here to Help

Whether you’re considering buying or selling, now is an excellent time to explore your options. As one of Sedona’s top real estate agents, I’m here to provide expert guidance and market insights tailored to your goals. Don’t hesitate to reach out—let’s make 2025 your year in Sedona real estate!

Stay tuned for more updates and feel free to contact me with any questions or for a complimentary market analysis of your property.