Weekly Update. April 27, 2019.
The Fourth Annual Piano on the Rocks International Festival will have two subsequent afternoon concerts on Saturday and Sunday with a suggested donation of $20.00. Each program has a different theme and features prize-winning pianists Sandrine Erdely-Sayo, Cynthia Raim, and Vasco Dantas; soprano, Barbara Di Toro and mezzo-soprano, Carla Canales; narrator, Elizabeth Pena. Admission: $20. Time: From: 3:00 PM to 5:00 PM. Sedona United Methodist Church, 110 Indian Cliffs Rd Sedona. For more information, contact Vicki Beckner at 928-862-2382.
Working artists in the Verde Valley will be opening their private studios to the public for the 16th Annual Sedona Spring Open Studios Tour, which will be held the weekend of April 26-28, 2019. This wonderful, biannual self-guided event is presented by the Sedona Visual Artists’ Coalition (SVAC) and is always free to the public. The Tour runs from 10:00 AM to 5:00 PM Saturday, April 27, and from 12:00 Noon to 5:00 PM on Sunday, April 28. The SVAC Tour has built a reputation as a wonderful week. Admission: Free. Time: From: 10:00 AM to 5:00 PM. The Sedona Visual Artists’ Coalition, 15 Art Barn Rd Sedona. For more information, call 503-789-4437.
Sedona Red Rockin Blues Festival is a fun and free all day live event, at the Posse Grounds Amphitheater, featuring 6 great Blues acts on stage. Bring your folding chairs, or blankets and enjoy the entire afternoon listening to some great Blues music amidst the red rocks. Food A GoGo food truck will be there, along with available beer, wine, and soft drinks for purchase. Please, no coolers or alcohol. Pets and children welcome! Sponsored by the Northern Arizona Blues Alliance, a 501 c(3). Admission: Free. Time: From: 12:00 PM to 6:00 PM. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, call Bob Sellani, 954-465-0998.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         21    Average: 17.7  (New Listings; Back on Market)
Under Contract:     32    Average: 21.7  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:        14     Average: 9.4  (Sold; Closed Escrow) 
Off Market:               2     Average:   5.4  (Canceled; Expired; Temporary Off Market)
Price Reductions:       11     Average   9.3
Price Increases:           0     Average   0.8
 
Contract Ratio:  39.60. The average over the last year is 36.20. 
The Average Price per Square Foot of homes that are Under Contract was $296.89 per square foot. The yearly moving average is $325.59 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $271.59 per square foot.
A strong week with 20 homes moving to Pending Status, 12 in Sedona and 8 in the Village, and 14 Closed Transactions, 10 in Sedona and 4 in the Village. Taking New Listings and Back on Market, then subtracting just Pendings and Closed Transactions we have been losing, on a yearly average, just over two units a week.
The Labor Department announced that initial claims for state unemployment benefits jumped 37,000 to a seasonally adjusted 230,000 for the week ended April 20. The increase was the largest since early September 2017. Claims dropped to 193,000 in the week prior, which was the lowest level since September 1969. The underlying trend still points to strength in the labor market.
The Commerce Department announced that the first quarter gross domestic product was 3.2%. This was much higher than the market estimate of 2.5%. An increase in exports was cited as the main reason for the higher number. This has been the best start to a year since 2015.
Despite the numbers showing further improvement in the economy, U.S. government debt yields fell on Friday. The yield on the 2-year Note was about 2.28%, the yield on the benchmark 10-year Treasury Note was about 2.50%, and the yield on the 30-year Treasury bond was about 2.92%. 
The improved economic data saw the S&P 500 and Nasdaq Composite close the week at record highs. The S&P 500 closed at 2,939.88, an all-time closing high. The Nasdaq ended at 8,146.40, and The Dow Jones Industrial Average at 26,543.33, slightly below its all-time high.
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. April 27, 2019.

The Fourth Annual Piano on the Rocks International Festival will have two subsequent afternoon concerts on Saturday and Sunday with a suggested donation of $20.00. Each program has a different theme and features prize-winning pianists Sandrine Erdely-Sayo, Cynthia Raim, and Vasco Dantas; soprano, Barbara Di Toro and mezzo-soprano, Carla Canales; narrator, Elizabeth Pena. Admission: $20. Time: From: 3:00 PM to 5:00 PM. Sedona United Methodist Church, 110 Indian Cliffs Rd Sedona. For more information, contact Vicki Beckner at 928-862-2382.

Working artists in the Verde Valley will be opening their private studios to the public for the 16th Annual Sedona Spring Open Studios Tour, which will be held the weekend of April 26-28, 2019. This wonderful, biannual self-guided event is presented by the Sedona Visual Artists’ Coalition (SVAC) and is always free to the public. The Tour runs from 10:00 AM to 5:00 PM Saturday, April 27, and from 12:00 Noon to 5:00 PM on Sunday, April 28. The SVAC Tour has built a reputation as a wonderful week. Admission: Free. Time: From: 10:00 AM to 5:00 PM. The Sedona Visual Artists’ Coalition, 15 Art Barn Rd Sedona. For more information, call 503-789-4437.

Sedona Red Rockin Blues Festival is a fun and free all day live event, at the Posse Grounds Amphitheater, featuring 6 great Blues acts on stage. Bring your folding chairs, or blankets and enjoy the entire afternoon listening to some great Blues music amidst the red rocks. Food A GoGo food truck will be there, along with available beer, wine, and soft drinks for purchase. Please, no coolers or alcohol. Pets and children welcome! Sponsored by the Northern Arizona Blues Alliance, a 501 c(3). Admission: Free. Time: From: 12:00 PM to 6:00 PM. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, call Bob Sellani, 954-465-0998.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         21    Average: 17.7  (New Listings; Back on Market)
Under Contract:     32    Average: 21.7  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     14     Average: 9.4  (Sold; Closed Escrow) 
Off Market:               2     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:       11     Average   9.3
Price Increases:           0     Average   0.8 

Contract Ratio:  39.60. The average over the last year is 36.20. 

The Average Price per Square Foot of homes that are Under Contract was $296.89 per square foot. The yearly moving average is $325.59 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $271.59 per square foot.

Another strong week with 20 homes moving to Pending Status, 12 in Sedona and 8 in the Village, and 14 Closed Transactions, 10 in Sedona and 4 in the Village. Taking New Listings and Back on Market, then subtracting just Pendings and Closed Transactions we have been losing, on a yearly average, just over two units a week.

The Labor Department announced that initial claims for state unemployment benefits jumped 37,000 to a seasonally adjusted 230,000 for the week ended April 20. The increase was the largest since early September 2017. Claims dropped to 193,000 in the week prior, which was the lowest level since September 1969. The underlying trend still points to strength in the labor market.

The Commerce Department announced that the first quarter gross domestic product was 3.2%. This was much higher than the market estimate of 2.5%. An increase in exports was cited as the main reason for the higher number. This has been the best start to a year since 2015.

Despite the numbers showing further improvement in the economy, U.S. government debt yields fell on Friday. The yield on the 2-year Note was about 2.28%, the yield on the benchmark 10-year Treasury Note was about 2.50%, and the yield on the 30-year Treasury bond was about 2.92%. 

The improved economic data saw the S&P 500 and Nasdaq Composite close the week at record highs. The S&P 500 closed at 2,939.88, an all-time closing high. The Nasdaq ended at 8,146.40, and The Dow Jones Industrial Average at 26,543.33, slightly below its all-time high.

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.