Sedona Land – June 2012 Update

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Sedona land sales for the first 5 months of 2012 are showing a 15% increase in the number of sales with 52 sales in 2012 compared to 45 sales in the first 5 months of 2011. Of those 52 sales, 11(21%) were distressed transactions. The number of distressed transactions 2012 to 2011 are level and down significantly from 2010 when 60% of the land sales in the first 5 months of the year were distressed transactions.

 

sedona land sales for the fisrt 5 months of the year 2004 to 2012

 

Median sales price for Sedona land sales has been jumping all around since it took a big plunge in 2009 down to $121,000 from $332,500 in 2008. Since then we saw a jump in 2010 and a continued fall in 2011 and 2012, down to $109,250 for the first 5 months of 2012.

 

median sales prices sedona az land first 5 months of the year 2004 to 2012

 

Bottom Line: As of this writing there are 331 active land listings in the Sedona area. Of those 22 are distressed inventory, and currently 15 of the total inventory is under contract. Based on the current rate of sales there is over three years worth of inventory for sale with more distressed properties to follow. At the end of the day we still have a limited amount of total land available inside the Red Rocks, if you see that great view property, think about pulling the trigger, prices are great! Click here to see all the Sedona Land For Sale that is currently on the market.

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About the Author:

Randy Crewse has been in the real estate business since 1974. He has sold many types of real estate from farm land and timberland, residential properties to commercial buildings and vacant land. Randy has either owned or managed real estate offices for for over 30 years of his 42 years in the real estate business. Randy and his wife Milton have made Sedona, Arizona their home since 1994.