Sedona Real Estate December 26, 2020

Dated: December 26 2020

Views: 69

Weekly Update. December 26th, 2020.

At the time of this blog, the Arizona Department of Health Services said that the number of confirmed cases in Arizona was 493,041 with 8,424 deaths. This is approximately a 10.0% and an 6.1% increase over the previous week.

The Fatality Rate, the number of deaths as a percentage of confirmed cases, is slightly lower at 1.7%. For those up to 54 years of age the Fatality Rate is unchanged at 0.3% and for those 55 and over it is slightly lower at 6.2%.

The number of cases is 6.77% of Arizona’s population, and deaths are 0.12% of the population.

Maricopa County accounts for 302,640 of confirmed cases and 4,906 of deaths. This is approximately 61% and 58% of the Arizona numbers, respectively. The figures for Yavapai County are 10,446 and 192, and for Coconino County are 10,671 and 203, respectively.

In Arizona, there have been a total of 3,152,099 tests performed, which is approximately 43.3% of the population, not accounting for people who have had multiple tests. An increasing 11.9% of those tests have shown positive. Of the tests, approximately 88% have been Diagnostic Tests (do you currently have the virus), and 12% have been Serology Tests (do you have the antibodies).

As of December 24th,
Yavapai County Community Health Services said the number of people tested in Yavapai County was 78,589 with 68,242 testing negative, another slight reduction to 86.8%. The number of tests is approximately 34.5% of the County’s population. The 186 deaths, consisting of 76 females and 110 males, is currently about 0.08% of the County’s population. The Fatality Rate is slightly lower at 1.80%.


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

14

MAV

18.0

New Listings; Back on Market

Under Contract

19

MAV

27.8

Active-Contingency Removal; Pending-Take  Backup; Pending

Closed Escrow

7

MAV

12.1

Sold; Closed Escrow

Off Market

3

MAV

5.2

Canceled; Expired; Temporary Off Market

 

 

 

 

 

Price Reductions

0

MAV

5.9

 

Price Increases

0

MAV

0.9

 


Over the week there were 9 new Listings with 5 coming Back on Market, (total 14). There were 7 Closings, and 11 Pending Sales (total 18). Taking Pending and Closed away from New Listings gives a reduction of inventory by another 4 units.

Contract Ratio:  The Contract Ratio is 108.30. The average over the last year is 80.5.

The Average Price per Square Foot of homes that are Under Contract was $376.55 per square foot. The yearly moving average is $325.64 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $304.91 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.

135

135

Absorption Rate (Sales/Months).

45.00

45.00

Months of Housing Supply (Listings/Ab Rate).  

1.38

2.04

Median Comparable Sales price.

829,000

710,000

Median Comparable Sales Days On Market.

65

85

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.

64

72

Absorption Rate (Sales/Months).

23.33

24.00

Months of Housing Supply (Listings/Ab Rate).  

1.73

2.00

Median Comparable Sales price.

556,500

574,313

Median Comparable Sales Days On Market.

69

91

Median Sales price as % of List Price.

99.00%

98.00%


The Labor Department announced that the number of first-time filers for unemployment benefits increased to 803,000 in the week ended December 19th. This was lower than market expectations. Initial claims for the previous week were revised higher by 7,000 to 892,000, the highest point since early September.

According to the Mortgage Bankers Association’s seasonally adjusted index, mortgage demand ended the year significantly higher than 2019. Total mortgage application volume rose 0.8% last week compared with the previous week.

Freddie Mac noted that the housing market is poised to finish the year strong as low mortgage rates continue to fuel homebuyer demand and refinance activity. Moving into 2021, they expect rates to hold steady. Ignoring points and fees, the 30-year fixed-rate mortgage was down around 2.66%. The 15-Year fixed was down around 2.19%, and the 5/1 Year Adjustable-Rate Mortgage was unchanged around 2.79%.

US Treasury yields fell on the week, across the board. The 2-year yield was unchanged at around 0.13%; the 5-year lower at around 0.37%; the 10-Year lower at around 0.94%; the 20-Year lower at around 1.46%, and the 30-Year also lower at around 1.66%.

The U.S. stock markets were mixed on the holiday week. The Dow Jones Industrial Average rose 0.1% to close at 30,199.87. The S&P 500 fell 0.2% to close at 3,703.06, and the Nasdaq Composite rose 0.4% to close at 12,804.73.

HAPPY NEW YEAR to everyone.

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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