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    Home » Sedona Real Estate TRENDS
    Sedona

    Sedona Real Estate TRENDS

    June 14, 2013No Comments
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    What does Trading Range say about the Sedona residential market?

    By Elisa Andreis J.D.
    Russ Lyon Sotheby’s International
    Realty of Sedona

    Sedona AZ (June 14, 2013) – In May 2013 residential properties sold on average for 98.05% of list price versus 96.34% a year ago.
    In other words, the spread between sale price and list price in May was 1.95%, an indication of a healthy demand where sellers are able to nearly get the price they want for their home and buyers find themselves with limited bargaining power. In real estate terms, trading range is defined as the spread ratio between sale price and list price. Trading range is a good indicator of a buyer’s market when the trading range is tight (2003 till 2006) and a seller’s market when the range widens.

    Sedona Median Price Update: Home prices are up 22.65% from a year ago. Sedona saw an increase in residential median sale price from $335,000 in April to $378,000 for the month of May. This represents a month to month price increase of 12.8%.

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    Analyzing City’s Legal Right to
    Ban OHVs on Public Roads

    By Tommy Acosta
    Mea Culpa! Mea Culpa! Mea Maxima Culpa! I screwed up. Blew it. Totally made a fool of myself. Missed the boat. I am talking about my editorial on the OHV fight, No Legal Traction on OHVs. I assumed that it was ADOT that would make a decision on whether the city could legally ban off road vehicles from our public roads like S.R. 89A and S.R. 179. Man was I off. ADOT has nothing to do with allowing or disallowing the city to do so. ADOT’s response to me when I asked them to clarify their position, was curt and to the point. “ADOT designs, builds and maintains the state highway system,” I was told. “It is not our place to offer an opinion on how state law might apply in this matter.” It was a totally “duh” moment for me when I realized that that the decision or judgement on the OHV ordinance, would involve the state and not ADOT. Chagrinned I stand. The crux of the matter then is whether the city can effectively use a number of standing state laws that can be interpreted to determine whether the city can legally ban the vehicles or not. Read more→
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