Sedona Real Estate December 19, 2020

Dated: December 19 2020

Views: 86

Weekly Update. December 19th, 2020.

At the time of this blog, the Arizona Department of Health Services said that the number of confirmed cases in Arizona was 448,231 with 7,937 deaths. This is approximately an 11.3% and an 8.4% increase over the previous week.

The Fatality Rate, the number of deaths as a percentage of confirmed cases, remains constant at 1.8%. For those up to 54 years of age the Fatality Rate is 0.3% and for those 55 and over it is slightly lower at 6.5%.

The number of cases is 6.16% of Arizona’s population, and deaths are 0.11% of the population.

Maricopa County accounts for 277,071 of confirmed cases and 4,661of deaths. This is approximately 62% and 59% of the Arizona numbers, respectively. The figures for Yavapai County are 9,137 and 175, and for Coconino County are 9,857 and 199, respectively.

In Arizona, there have been a total of 3,008,877 tests performed, which is approximately 41.3% of the population, not accounting for people who have had multiple tests. 11.4% of those tests have shown positive. Of the tests, approximately 87% have been Diagnostic Tests (do you currently have the virus), and 13% have been Serology Tests (do you have the antibodies).

As of yesterday,
Yavapai County Community Health Services said the number of people tested in Yavapai County was 75,104 with 65,954 testing negative, another slight reduction to 87.8%. The number of tests is approximately 32.9% of the County’s population. The number of deaths is currently approximately 0.08% of the County’s population and the Fatality Rate is slightly higher at 1.88%.


A chart of the daily increase in confirmed cases in Arizona is below. There remains volatility in the numbers reported, which may be a timing issue.

                                                

 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Moving Averages are for 1 year. This week's numbers are,

New Listings

21

MAV

17.9

New Listings; Back on Market

Under Contract

24

MAV

27.6

Active-Contingency Removal; Pending-Take  Backup; Pending

Closed Escrow

13

MAV

12.1

Sold; Closed Escrow

Off Market

7

MAV

5.2

Canceled; Expired; Temporary Off Market

 

 

 

 

 

Price Reductions

3

MAV

6.0

 

Price Increases

0

MAV

0.9

 


Over the week there were 16 new Listings and 5 coming Back on Market, (total 21). There were 13 Closings, and 12 Pending Sales (total 25). Taking Pending and Closed away from New Listings gives a reduction of inventory by another 4 units.

Contract Ratio:  The Contract Ratio is 115.80. The average over the last year is 79.10.

The Average Price per Square Foot of homes that are Under Contract was $377.45 per square foot. The yearly moving average is $323.86 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $301.75 per square foot.

MARKET WATCH.

This Table contrasts the real estate activity in Sedona, and the Village of Oak Creek, over the last 3 months with the prior 3 months.

WEST SEDONA.

 

 

 

3 MONTHS To TODAY

PRIOR 4 to 6 MONTHS

Total Number of Comparable Sales.

138

131

Absorption Rate (Sales/Months).

46.00

43.67

Months of Housing Supply (Listings/Ab Rate).  

1.30

2.13

Median Comparable Sales price.

838,000

685,000

Median Comparable Sales Days On Market.

67

83

Median Sales price as % of List Price.

99.00%

98.00%

 

VILLAGE of OAK CREEK

 

 

 

3 MONTHS To TODAY

PRIOR 4 to 6 MONTHS

Total Number of Comparable Sales.

70

71

Absorption Rate (Sales/Months).

23.33

23.67

Months of Housing Supply (Listings/Ab Rate).  

1.54

2.07

Median Comparable Sales price.

553,000

575,000

Median Comparable Sales Days On Market.

69

96

Median Sales price as % of List Price.

99.00%

98.00%

In February, Health and Human Services Secretary Alex Azar invoked the Public Readiness and Emergency Preparedness Act. The 2005 law empowers the HHS secretary to provide legal protection to companies making or distributing critical medical supplies, such as vaccines and treatments, unless there’s “willful misconduct” by the company. The protection lasts until 2024. That suggests that the federal government has granted companies like Pfizer and Moderna immunity from liability if something unintentionally goes wrong with their vaccines.

The Labor Department announced an unexpected rise in Jobless claims last week as states reimposed coronavirus restrictions and Congress struggled to provide new government assistance, The number of first-time unemployment-benefits filers totaled 885,000 in the week ending December 12th, the most since the week of September 5th. Initial claims for the previous week were revised higher by 9,000 to 862,000.

Freddie Mac noted that the housing market continues to surge higher, even as the economy seems to have lost momentum. Mortgage rates remained at record lows despite an uptick in US Treasury yields. Ignoring points and fees, the 30-year fixed-rate mortgage was down around 2.67%. The 15-Year fixed was down around 2.21%, and the 5/1 Year Adjustable-Rate Mortgage was unchanged around 2.79%. The Mortgage Bankers Association weekly survey showed mortgage loan application volume increase by 1.1%.

US Treasury yields fell on the week, across the board. The 2-year yield was higher at around 0.13%; the 5-year higher at around 0.39%; the 10-Year higher at around 0.95%; the 20-Year higher at around 1.49%, and the 30-Year also higher at around 1.70%.

The U.S. stock markets finished higher on the week. The Dow Jones Industrial Average rose 0.4% to close at 30,179.05. The S&P 500 rose 1.3% to close at 3,709.41, and the Nasdaq Composite rose 3.1% to close at 12,755.64.

Sean Baguley.


Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Blog author image

Sean Baguley

I’ve been a licensed Realtor® in Sedona since 2005, having spent most of my career in the International Financial Markets, so I’m used to handling large transactions, am an excellent negotiator, ....

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