Weekly Update. March 2, 2019.
Sedona International Film Festival & Workshop is drawing to a close. It is the greatest celebration of the best in independent film from around the world, and features shorts, documentaries, animation, foreign and student films. The Festival covers nine days with more than 160 films. Contact (928) 282-1177. 2030 W State Route 89A,Ste A-3 Sedona.
The Sedona Mountain Bike Festival is a 3-day celebration that includes a Main Expo/Festival, Bike Demos, Shuttled Rides, a Beer Garden, great Bands for (3) nights and a whole lotta sweet RED SINGLETRACK. Contact (928) 282-1106. 525 Posse Ground Rd Sedona.
The Sedona St Patrick’s Parade & Festival will be on March 9, 2019. The St Patrick's Parade & Festival is a cultural-heritage celebration that is free to attend. The parade starts at 10:30 AM from The Historical Park along Jordan Road and ends at Mesquite Avenue. This event is a partnership between NAU Parks and Recreation Program and the City of Sedona Parks and Recreation Department. Contact (928) 282-7098. 102 Roadrunner Drive 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:         14    Average: 17.4  (New Listings; Back on Market)
Under Contract:     15    Average: 22.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average: 9.6  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:        5     Average   8.6
Price Increases:           1     Average   0.9
 
Contract Ratio:  32.90. The average over the last year is 37.10. 
The Average Price per Square Foot of homes that are Under Contract was $297.83 per square foot. The yearly moving average is $322.55 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $267.57 per square foot.
The Institute for Supply Management announced that their ISM Manufacturing Index fell to 54.2 in February from 56.6 in January, reaching the lowest level in more than two years. The ISM said that a fall in new orders, production, employment and prices were all contributors to the index's decline.
The Commerce Department announced that personal income fell 0.1% in January against 1.0% rise in December. This was the first decline since November 2015 and the first time in more than three years. This was due to a fall in dividends and interest payments and suggests we will see only moderate growth in consumer spending over the next period.
The stock market closed the week at higher levels. The  S&P 500 closed up 0.7% at 2,803.69. This was the first close above 2,800 since November 8th. The Dow Jones Industrial Average closed 110.32 points higher at 26,026.32, and the Nasdaq Compositeclosed 0.8% higher at 7,595.35.
The release of economic data saw US Government Debt yields close higher. The benchmark 5-year Treasury was around 2.56%, the 10-year note was around 2.76%, and the yield on the 30-year bond was around 3.13%.
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 Real Estate BloomTree Realty.  

Weekly Update. March 2, 2019.

Sedona International Film Festival & Workshop is drawing to a close. It is the greatest celebration of the best in independent film from around the world, and features shorts, documentaries, animation, foreign and student films. The Festival covers nine days with more than 160 films. Contact (928) 282-1177. 2030 W State Route 89A,Ste A-3 Sedona.

The Sedona Mountain Bike Festival is a 3-day celebration that includes a Main Expo/Festival, Bike Demos, Shuttled Rides, a Beer Garden, great Bands for (3) nights and a whole lotta sweet RED SINGLETRACK. Contact (928) 282-1106. 525 Posse Ground Rd Sedona.

The Sedona St Patrick’s Parade & Festival will be on March 9, 2019. The St Patrick's Parade & Festival is a cultural-heritage celebration that is free to attend. The parade starts at 10:30 AM from The Historical Park along Jordan Road and ends at Mesquite Avenue. This event is a partnership between NAU Parks and Recreation Program and the City of Sedona Parks and Recreation Department. Contact (928) 282-7098. 102 Roadrunner Drive 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:         14    Average: 17.4  (New Listings; Back on Market)
Under Contract:     15    Average: 22.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average: 9.6  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        5     Average   8.6
Price Increases:           1     Average   0.9 

Contract Ratio:  32.90. The average over the last year is 37.10. 

The Average Price per Square Foot of homes that are Under Contract was $297.83 per square foot. The yearly moving average is $322.55 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $267.57 per square foot.

The Institute for Supply Management announced that their ISM Manufacturing Index fell to 54.2 in February from 56.6 in January, reaching the lowest level in more than two years. The ISM said that a fall in new orders, production, employment and prices were all contributors to the index's decline.

The Commerce Department announced that personal income fell 0.1% in January against 1.0% rise in December. This was the first decline since November 2015 and the first time in more than three years. This was due to a fall in dividends and interest payments and suggests we will see only moderate growth in consumer spending over the next period.

The stock market closed the week at higher levels. The  S&P 500 closed up 0.7% at 2,803.69. This was the first close above 2,800 since November 8th. The Dow Jones Industrial Average closed 110.32 points higher at 26,026.32, and the Nasdaq Compositeclosed 0.8% higher at 7,595.35.

The release of economic data saw US Government Debt yields increase. The benchmark 5-year Treasury was around 2.56%, the 10-year note was around 2.76%, and the yield on the 30-year bond was around 3.13%.

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 Real Estate BloomTree Realty.