Yesterday, February 1st, BloomTree Realty entered into a strategic marketing and branding alliance with Better Homes & Gardens Real Estate. Better Homes & Gardens has a 96% brand recognition and has 40 million subscribers. The alliance will put Better Homes and Gardens BloomTree Realty in the forefront of the digital age of Real Estate.

Weekly Update. February 2, 2019.

The Sedona International Film Festival has the next Met Live Opera presentation of Georges Bizet’s “Carmen” today Saturday, February 2nd. There will be two shows, 11:00 AM (the live simulcast) and 4:00 PM (encore). Clémentine Margaine is opera’s ultimate seductress, opposite Roberto Alagna, who captivated Live in HD audiences as Don José in 2010. Louis Langrée conducts Sir Richard Eyre’s lively production, a favorite in the Met’s repertoire. Admission: $25 general admission; $22 film festival members; $15 students. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona.

Photography 101 // Learn To Use Your Camera. Today, Saturday, February 2nd, 2019, join Andrew Slaton in Sedona for a 3 hour course that will teach you how to get the most out of your camera. Learn how to shoot like a pro! Admission: $99. Time: From: 1:00 PM to 4:00 PM. Sunset Park, 655 Sunset Dr Sedona.

Sedona Arts Center Members’ Co-op Event. Swing by the Sedona Arts Center Theatre February 1st to 18th to see the original works of twenty talented artists. You'll find oils, acrylics, ceramics, jewelry and much more! The show will be open daily 10:00 AM to 5:00 PM. Admission: Free. Time: From: 10:00 AM to 5:00 PM. 5 Art Barn Road, Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         15    Average: 17.8  (New Listings; Back on Market)
Under Contract:     21    Average: 22.6  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average: 9.6  (Sold; Closed Escrow) 
Off Market:             10     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        4     Average   8.8
Price Increases:           0     Average   0.9 

Contract Ratio:  29.40. The average over the last year is 37.30. 

The Average Price per Square Foot of homes that are Under Contract was $327.28 per square foot. The yearly moving average is $320.59 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $266.68 per square foot.

The Labor Department reported that nonfarm payrolls surged by 304,000 jobs despite a partial government shutdown. The unemployment rate stood at 4%, slightly higher, although some market commentators suggested that this was a likely effect of that shutdown.

The Labor Department also reported that Wages and Salaries increased by slightly more than 3%, and this is the first time that number has been reached in more than 10 years. For the last quarter of 2018, the quarterly employment cost index showed a 3.1% rise in the wages and salaries component, up from 2.9% in the third quarter. This equals the largest gain since the third quarter of 2008, the beginning of the financial crisis.

News of a continuingly more robust economy saw The Dow post its sixth straight week of gains, the longest since November 2017. The possibility of an increased demand for money to fuel the economy lead to a rise in US Treaury Bond yields. The 2-year note was at 2.51%; the 5-year 2.50%; the 10-year 2.68% and the 30-year 3.03%.

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. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens BloomTree Realty.