Weekly Update. July 13th, 2019.
The Sedona International Film Festival has a couple of award-winning and acclaimed new films centered on the music industry. “The Quiet One” is about one of the world’s greatest rock bands through the yes of Bill Wyman, the bassist for The Rolling Stones, and known as the “quiet one”. Bill Wyman speaks out about life with the Stones through a tour of his personal archive. Next there is “Echo in the Canyon”, which celebrates the explosion of popular music that came out of LA’s Laurel Canyon in the mid-60s as folk went electric and The Byrds, The Beach Boys, Buffalo Springfield and The Mamas and the Papas gave birth to the California Sound. Admission: $12 general admission; $9 for film festival members. Time: 4 p.m. and 7 p.m. (check website). Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. For more information, call Patrick Schweiss, 928-282-1177.
Sedona Mountain Bike Academy is hosting Women's Group Mountain Bike Rides. These will be free, fun-focused, no-drop rides, that prioritize getting to know the trails and meeting other riders. Please come prepared with a working bike and gear. Time: From: 4:00 PM to 6:00 PM. Bell Rock Trailhead. For more information call Amaryth Gass, 1-888-288-0603, or please email info@sedonamtbacademy.com for questions or on how to rent a bike.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         22    Average: 17.7  (New Listings; Back on Market)
Under Contract:     24    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      8     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               8     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:         8     Average  10.2
Price Increases:            1     Average    0.8
 
Contract Ratio:  40.20. The average over the last year is 34.10. 
The Average Price per Square Foot of homes that are Under Contract was $290.41 per square foot. The yearly moving average is $322.61 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $275.69 per square foot. 
Stock markets closed at all-time highs on Friday as it appeared, from testimony given by a top Federal Reserve official, that a cut in rates was imminent. The Dow Jones Industrial Average closed at 27,332.03; the S&P 500 at 3,013.77, and The Nasdaq Composite at 8,244.14.
The Bureau of Labor Statistics announced that the U.S. consumer price index rose 0.1% in June (seasonally adjusted), and 1.6% over the year (not seasonally adjusted). Core CPI (the index less food and energy) rose 0.3% in June after 0.2% in May. The year-on-year increase was 2.1%. 
The CPI numbers were somewhat of a surprise to the Bond Markets, and yields on US Treasuries rose, with the 2-year at around 1.85%; the 5-year at around 1.87%; the 10-year at around 2.12% and the 30-year at around 2.65%.
In response to questions from the Senate Banking Committee, Federal Reserve Chairman Jerome Powell suggested that the nation has fallen into a severe housing shortage, and homebuilders are struggling to increase production due to high costs for labor and materials. The labor situation is exacerbated by the fact that thousands of skilled workers left the construction industry, following the housing crash that began in 2008, and never returned.
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 13th, 2019.

The Sedona International Film Festival has a couple of award-winning and acclaimed new films centered on the music industry. “The Quiet One” is about one of the world’s greatest rock bands through the yes of Bill Wyman, the bassist for The Rolling Stones, and known as the “quiet one”. Bill Wyman speaks out about life with the Stones through a tour of his personal archive. Next there is “Echo in the Canyon”, which celebrates the explosion of popular music that came out of LA’s Laurel Canyon in the mid-60s as folk went electric and The Byrds, The Beach Boys, Buffalo Springfield and The Mamas and the Papas gave birth to the California Sound. Admission: $12 general admission; $9 for film festival members. Time: 4 p.m. and 7 p.m. (check website). Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. For more information, call Patrick Schweiss, 928-282-1177.

Sedona Mountain Bike Academy is hosting Women's Group Mountain Bike Rides. These will be free, fun-focused, no-drop rides, that prioritize getting to know the trails and meeting other riders. Please come prepared with a working bike and gear. Time: From: 4:00 PM to 6:00 PM. Bell Rock Trailhead. For more information call Amaryth Gass, 1-888-288-0603, or please email info@sedonamtbacademy.com for questions or on how to rent a bike.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         22    Average: 17.7  (New Listings; Back on Market)
Under Contract:     24    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               8     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:         8     Average  10.2
Price Increases:            1     Average    0.8 

Contract Ratio:  40.20. The average over the last year is 34.10. 

The Average Price per Square Foot of homes that are Under Contract was $290.41 per square foot. The yearly moving average is $322.61 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $275.69 per square foot. 

Stock markets closed at all-time highs on Friday as it appeared, from testimony given by a top Federal Reserve official, that a cut in rates was imminent. The Dow Jones Industrial Average closed at 27,332.03; the S&P 500 at 3,013.77, and The Nasdaq Composite at 8,244.14.

The Bureau of Labor Statistics announced that the U.S. consumer price index rose 0.1% in June (seasonally adjusted), and 1.6% over the year (not seasonally adjusted). Core CPI (the index less food and energy) rose 0.3% in June after 0.2% in May. The year-on-year increase was 2.1%. 

The CPI numbers were somewhat of a surprise to the Bond Markets, and yields on US Treasuries rose, with the 2-year at around 1.85%; the 5-year at around 1.87%; the 10-year at around 2.12% and the 30-year at around 2.65%.

In response to questions from the Senate Banking Committee, Federal Reserve Chairman Jerome Powell suggested that the nation has fallen into a severe housing shortage, and homebuilders are struggling to increase production due to high costs for labor and materials. The labor situation is exacerbated by the fact that thousands of skilled workers left the construction industry, following the housing crash that began in 2008, and never returned.

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.