With the national real estate market taking off it is no wonder that the market in Sedona is starting to show signs of recovery. Prices have fallen back to 2003-2004 levels with much of the buying activity occurring at the low/mid section of the market.

First time homebuyers have been snapping up property thanks to the $8,000 tax credit – which ends soon! – as well as taking advantage of the low interest rates. In fact the number of homes sold was up 62% with 41% of that volume being foreclosures & short sales.

That said, only 12% of the real estate market is made up of foreclosures and short sales so there is still an opportunity for buyers to purchase a great home at a knock down price.

In the Vacant Land side of the market, the median price is now around $121,000 compared to $318,000 in 2008. Definately an opportunity for buyers there. Also, in condominiums there has ben a 30% increase in sales with a 10% increase in the sales price!

In short, the time to act is now as the best buyers market in years is slipping away for those who are on the fence. [See our article - Pending Home Sales Rise Lead By the West!]

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES!

If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact Claudia Ault and her team in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016.

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