Weekly Update. July 6th, 2019.
Big Gay Art Show. This show is hosted by the Sedona Arts Center in support of the LGBTQ+ community! This event is free, fun, and open to everyone! The show reception will be held on First Friday, July 5th, from 5-8pm. Hors d'Oeuvers will be served. Come show your support! Admission: Free. Time: Friday to Sunday From: 10:00 AM to 5:00 PM. 15 Art Barn Road, Sedona. For more information, call Valerie Pulido, 928-282-3809.
The Hopi Festival is recognized as a cultural treasure in the state, and a not-to-miss summer tradition. The two-day celebration of Hopi culture starts with a ceremonial welcome and flag raising, followed by dance and music performances, artist demonstrations, workshops and puppet shows. This year's performers include Ongtupqua performing on the Hopi long flute and a Hopi hoop dancer. Meet hundreds of carvers, weavers, potters, painters and jewelers demonstrating, and selling their art. Admission: Free. Time: From: 9:00 AM to 5:00 PM. Museum Of Northern Arizona, 3101 N Fort Valley Rd. Flagstaff. For more information, call 928-774-5213.
Poco Diablo Resort presents a Night Golf Tournament! Saturday, July 6th at 8pm, scramble format, four players per team, $20 per person. Call to reserve your space or sign up at the Poco Diablo Resort Front Desk . Admission: $20.00 per person. Time: From: 8:00 PM to 10:00 PM. Poco Diablo Resort, 1752 State Route 179 Sedona. For more information, call Packy Baker, 928-202-7676.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         12    Average: 17.7  (New Listings; Back on Market)
Under Contract:     27    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     13     Average: 9.3  (Sold; Closed Escrow) 
Off Market:               8     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:         6     Average  10.2
Price Increases:            2     Average    0.8
 
Contract Ratio:  40.30. The average over the last year is 34.30. 
The Average Price per Square Foot of homes that are Under Contract was $290.57 per square foot. The yearly moving average is $321.59 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $275.37 per square foot. 
Please look at just the yearly averages, above, New Listings, Under Contract, Closed, and Off Market. While some homes come off market, and some then either go back on or are re-listed, and some homes go under contract, but may fall out of escrow, the general trend is obvious, and underlies the shortage of inventory and rising values.
The Labor Department announced that nonfarm payrolls increased by 224,000 jobs in June. This is the best number since January and seems to allay the fears the concerns that the economy was beginning to weaken. An increase in the labor force participation caused the unemployment rate to increase to 3.7%. Average hourly earnings rose 0.2%, slightly below market expectations, but, over the last year, wages have risen 3.1%.
The stronger jobs performance cast doubt on the idea that Federal Reserve would move to reduce rates in the near term in order to avoid a widely expected economic slow down this year. This news caused the Stock market to marginally pull back from its recent record highs. At the ned of the week, the Dow Jones Industrial Average closed at 26,922.12; the S&P 500 at 2990.41, and the Nasdaq at 8,161.79.
US Treasury Yields rose sharply. The 2-year closed at 1.87%; the 5-year at 1.84%; the 10-year at 2.04%, and the 30-year at 2.54%. Before the nonfarm payrolls numbers, Freddie Mac said that the 30-year fixed-rate mortgage averaged 3.75% with an average 0.6 points. This was marginally higher than the previous week's number of an average 3.73%. At this time a year ago, the rate was 4.52%.
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. July 6th, 2019.

Big Gay Art Show. This show is hosted by the Sedona Arts Center in support of the LGBTQ+ community! This event is free, fun, and open to everyone! The show reception will be held on First Friday, July 5th, from 5-8pm. Hors d'Oeuvers will be served. Come show your support! Admission: Free. Time: Friday to Sunday From: 10:00 AM to 5:00 PM. 15 Art Barn Road, Sedona. For more information, call Valerie Pulido, 928-282-3809.

The Hopi Festival is recognized as a cultural treasure in the state, and a not-to-miss summer tradition. The two-day celebration of Hopi culture starts with a ceremonial welcome and flag raising, followed by dance and music performances, artist demonstrations, workshops and puppet shows. This year's performers include Ongtupqua performing on the Hopi long flute and a Hopi hoop dancer. Meet hundreds of carvers, weavers, potters, painters and jewelers demonstrating, and selling their art. Admission: Free. Time: From: 9:00 AM to 5:00 PM. Museum Of Northern Arizona, 3101 N Fort Valley Rd. Flagstaff. For more information, call 928-774-5213.

Poco Diablo Resort presents a Night Golf Tournament! Saturday, July 6th at 8pm, scramble format, four players per team, $20 per person. Call to reserve your space or sign up at the Poco Diablo Resort Front Desk . Admission: $20.00 per person. Time: From: 8:00 PM to 10:00 PM. Poco Diablo Resort, 1752 State Route 179 Sedona. For more information, call Packy Baker, 928-202-7676.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         12    Average: 17.7  (New Listings; Back on Market)
Under Contract:     27    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     13     Average: 9.3  (Sold; Closed Escrow) 
Off Market:               8     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:         6     Average  10.2
Price Increases:            2     Average    0.8 

Contract Ratio:  40.30. The average over the last year is 34.30. 

The Average Price per Square Foot of homes that are Under Contract was $290.57 per square foot. The yearly moving average is $321.59 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $275.37 per square foot. 

Please look at just the yearly averages, above, New Listings, Under Contract, Closed, and Off Market. While some homes come off market, and some then either go back on or are re-listed, and some homes go under contract, but may fall out of escrow, the general trend is obvious, and underlies the shortage of inventory and rising values.

The Labor Department announced that nonfarm payrolls increased by 224,000 jobs in June. This is the best number since January and seems to allay the fears the concerns that the economy was beginning to weaken. An increase in the labor force participation caused the unemployment rate to increase to 3.7%. Average hourly earnings rose 0.2%, slightly below market expectations, but, over the last year, wages have risen 3.1%.

The stronger jobs performance cast doubt on the idea that Federal Reserve would move to reduce rates in the near term in order to avoid a widely expected economic slow down this year. This news caused the Stock market to marginally pull back from its recent record highs. At the ned of the week, the Dow Jones Industrial Average closed at 26,922.12; the S&P 500 at 2990.41, and the Nasdaq at 8,161.79.

US Treasury Yields rose sharply. The 2-year closed at 1.87%; the 5-year at 1.84%; the 10-year at 2.04%, and the 30-year at 2.54%. Before the nonfarm payrolls numbers, Freddie Mac said that the 30-year fixed-rate mortgage averaged 3.75% with an average 0.6 points. This was marginally higher than the previous week's number of an average 3.73%. At this time a year ago, the rate was 4.52%.

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.