Weekly Update. March 9, 2019.
Today is the annual Sedona St Patrick's Parade & Festival, a free cultural-heritage celebration. The parade starts at 10:30 AM from The Jordan Historical Park along Jordan Road, and ends at Mesquite Avenue. The event is a partnership between NAU Parks and Recreation Program and the City of Sedona Parks and Recreation Department. Uptown Sedona. For details, please call (928) 282-7098
March 14-17, 2019 is the Sedona Yoga Festival. Deepen your practice and tap into ancient wisdom with three days of yoga, music and energy work in the undisputed spiritual center of the West. The flexible conference structure gives you an unparalleled opportunity to weave your own experience in the richly colored cultural and natural tapestry that is Sedona. For details, please call (928) 793-2777.
March 23, 2019 is the Sedona Food Truck Festival. The event features great food, live music and a beer garden. Admission is free. Time: from 12:00 to 5:00 PM. Posse Grounds Park, 525 Posse Ground Rd Sedona. For details, please call (928) 204-7127.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         28    Average: 17.3  (New Listings; Back on Market)
Under Contract:     17    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       5     Average: 9.5  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.4  (Canceled; Expired; Temporary Off Market)
Price Reductions:       10     Average   8.6
Price Increases:           0     Average   0.9
 
Contract Ratio:  32.20. The average over the last year is 36.90. The jump in New Listings, versus those under contract or sold, is the highest in about a year, although one week proves nothing. 
The Average Price per Square Foot of homes that are Under Contract was $294.60 per square foot. The yearly moving average is $322.97 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $268.22 per square foot.
The Labor Department announced that nonfarm payrolls increasing by only 20,000 in February. Following a stunning start to the year, this is the worst month since September 2017. Some commentators suggested that the sudden change may be due to the way in which the Labor Department calculate their headline numbers.  
The seasonally adjusted unemployment rate for February fell to 3.8% from 4%, while the seasonally adjusted Total Unemployed number, U-6, dropped sharply to 7.3% in February from 8.1% in January. Average hourly earnings increased by 3.4% year-on-year, the best number in the last 10 years.
After the release of the job numbers, the yield on the benchmark 10-year Treasury note closed around 2.63% having reached a low of 2.61% during the day. The Stock Market fell for the fifth straight day. The Dow Jones Industrial Average closed at 25,450.24, the S&P 500 at 2,743.07, and the Nasdaq Composite at 7,408.14. Commentators suggested that the retracement was due to concerns over growth in the global economy.
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 9, 2019.

Today is the annual Sedona St Patrick's Parade & Festival, a free cultural-heritage celebration. The parade starts at 10:30 AM from The Jordan Historical Park along Jordan Road, and ends at Mesquite Avenue. The event is a partnership between NAU Parks and Recreation Program and the City of Sedona Parks and Recreation Department. Uptown Sedona. For details, please call (928) 282-7098

March 14-17, 2019 is the Sedona Yoga Festival. Deepen your practice and tap into ancient wisdom with three days of yoga, music and energy work in the undisputed spiritual center of the West. The flexible conference structure gives you an unparalleled opportunity to weave your own experience in the richly colored cultural and natural tapestry that is Sedona. For details, please call (928) 793-2777.

March 23, 2019 is the Sedona Food Truck Festival. The event features great food, live music and a beer garden. Admission is free. Time: from 12:00 to 5:00 PM. Posse Grounds Park, 525 Posse Ground Rd Sedona. For details, please call (928) 204-7127.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         28    Average: 17.3  (New Listings; Back on Market)
Under Contract:     17    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       5     Average: 9.5  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:       10     Average   8.6
Price Increases:           0     Average   0.9 

Contract Ratio:  32.20. The average over the last year is 36.90. The jump in New Listings, versus those under contract or sold, is the highest in about a year, although one week proves nothing. 

The Average Price per Square Foot of homes that are Under Contract was $294.60 per square foot. The yearly moving average is $322.97 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $268.22 per square foot.

The Labor Department announced that nonfarm payrolls increasing by only 20,000 in February. Following a stunning start to the year, this is the worst month since September 2017. Some commentators suggested that the sudden change may be due to the way in which the Labor Department calculate their headline numbers.  

The seasonally adjusted unemployment rate for February fell to 3.8% from 4%, while the seasonally adjusted Total Unemployed number, U-6, dropped sharply to 7.3% in February from 8.1% in January. Average hourly earnings increased by 3.4% year-on-year, the best number in the last 10 years.

After the release of the job numbers, the yield on the benchmark 10-year Treasury note closed around 2.63% having reached a low of 2.61% during the day. The Stock Market fell for the fifth straight day. The Dow Jones Industrial Average closed at 25,450.24, the S&P 500 at 2,743.07, and the Nasdaq Composite at 7,408.14. Commentators suggested that the retracement was due to concerns over growth in the global economy.

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.