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    Sedona.Biz – The Voice of Sedona and The Verde ValleySedona.Biz – The Voice of Sedona and The Verde Valley
    Home » Sedona Real Estate TRENDS
    Sedona

    Sedona Real Estate TRENDS

    May 19, 2013No Comments
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    By Elisa Andreis J.D.,
    Russ Lyon Sotheby’s International Realty of Sedona

    photo_elisaandreisx144Sedona AZ (May 20, 2013) Today we take a look at the overall condition of the residential Sedona real estate market from a historical perspective from pre real estate boom until today.

    The data is organized into 5 segments, each representing a measure of the health and direction of the Sedona real estate market: Median Sale Price, Inventory, Sale Volume, Distressed Sales, and vacant Land.

    Each criteria used to generate the charts is an essential and interconnected part in a larger system. To derive meaningful and balanced conclusions, one needs to evaluate the whole and the relationships between the parts.

    This presentation aims at giving the tools needed to understand the Sedona market from a technical perspective and help buyers and sellers make a more educated decision.

    Enjoy and look out for our monthly update.
    Elisa Andreis

    Sedona Gift Shop

    Sedona MEDIAN SALE PRICE

    Median sale price usually provides a better gauge of home prices than average sale price. Median represents the price point where half of the homes are selling below and half above the price point, whereas average is derived by dividing the total added value of homes sold by the sold volume. Averages can easily be skewed by one or two high end sales or by distressed sales at the low end of the sales price spectrum.

    Sedona residential median sale price peaked in late 2006 at $540,000 and bottomed at $315,000 in April 2011, representing a 42% price drop. As of the end of April 2013, median sold price had recovered by 8% at $340,000.

    20130520_realestate

     

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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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