Sedona’s real estate market is adjusting, not crashing. Inventory is rising and buyers are active — but far more selective — rewarding STR-eligible homes, exceptional views, and updated finishes. Prices have softened slightly in the single-family segment (down 6% YOY), while vacant land values per lot have increased, signaling long-term confidence in Sedona’s lifestyle appeal. Across Arizona and the nation, we’re seeing a similar story: flat-to-declining transaction volumes, price stabilization in most markets, and buyers who are navigating affordability pressures amid persistent mortgage rates. Yet Sedona remains a micro-niche — buffered by cash-rich lifestyle buyers, legacy demand, and limited buildable land. Zooming out, global uncertainty, elevated interest rates, and a slowing but still-resilient U.S. labor market are dampening urgency but not erasing demand. While institutional capital is retreating from speculative plays, individual investors and lifestyle-driven relocators continue to pursue tangible, quality assets — especially in places like Sedona where value is defined not just by comps, but by emotion, views, and experience.

 

📈 SINGLE FAMILY HOMES

YOY Performance:

Price Correction: 6% softening in sale prices while transaction volume slightly rose.
Buyer Selectiveness: Buyers are showing up — but want fair pricing, strong views, or updated/remodeled homes.


Detailed Activity:

Cash vs Financed: 55% cash purchases; cash more dominant under $1.2M and over $2M.

DOM: Median 55 days / Average 79 days — faster than late 2024.

Price Reductions: 65% of sold homes had at least one price reduction.

Sold at Original List Price: 14% of sales matched original list price (mostly under $900K).

Sold Over Asking: Only homes under $900K (STR or turnkey properties) went over list.

Price Per Sq Ft: Holding in Uptown and West Sedona; softening in VOC and Big Park for larger homes.


Price Bracket Breakdown:

1–2M Range: Most competitive tier; heavy price reductions before pending.

2M+ Range: High DOM, price corrections of $200K–$400K before sales.


VACANT LAND

YOY Performance:

Volume Down, Prices Up: Fewer land parcels are moving, but buyers are paying more per property.

Absorption Slower: Land buyers are choosier; properties with views and amenities are outperforming.


Detailed Activity:

Uptown Sedona: Strong land market (+100% sales YOY, avg price +36%).

West Sedona: Sales and prices up (+81% avg price increase).

Little Horse Park & VOC: Sluggish; steep sales decline (-57% in Little Horse, no sales in VOC).

Big Park: Prices dropped 40% even though units sold held steady.


Key Market Themes: