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August 2015: The Sedona zip code has always been a very pricey real estate location and is home to some of the most expensive residential real estate in Arizona. In fact, Zillow lists it just behind Paradise Valley and Carefree as the third priciest residential real estate in an Arizona city.
Over the last seven years, the Sedona residential real estate market for new homes and resale homes suffered the same fate as most cities in Arizona and around the nation. Not only did the value of existing homes plummet, but also new single-family home construction was almost non-existent.
The local market for single-family homes has come a long way from the depths of the Great Recession. Currently, the average median value of a resale home in Sedona is... (Read More)