Weekly Update. September 14th, 2019.
Still running until September 15th, The 11th Annual Grand Canyon Celebration of Art is held at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.
Sedona WagFest & Fair. September 21. 9:00 AM to 12:00 PM. A perfect day out for dogs and their humans. This canine event will feature booths where you can shop and learn from the area’s best dog-related product & service providers. Demonstrations & contests will be scheduled throughout the event. It’s FREE, fun, & family-friendly! For the safety: All dogs must be current on vaccinations, be kept on a leash, handlers must be 18 years and clean up after your dogs. The Posse Grounds Pavillion, 525 Posse Ground Rd Sedona. For more information, please call 928-204-7127.
Sedona Winefest. September 28-29, 2019 from 11:00 am - 5:00 pm. We invite you to enjoy fabulous Arizona wines, tasty food, music, and vendors galore while enjoying the breathtaking panoramic views of the majestic red rocks in the heart of Sedona. Welcome to the 11th Annual Sedona Winefest. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, please call 928-593-9694.
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: 17.8  (New Listings; Back on Market) 
Under Contract:     18    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      9     Average:  9.4  (Sold; Closed Escrow) 
Off Market:               6     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:        15     Average  10.9
Price Increases:            1     Average    0.6
 
Contract Ratio:  29.90. The average over the last year is 33.50. 
The Average Price per Square Foot of homes that are Under Contract was $299.86 per square foot. The yearly moving average is $314.84 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.52 per square foot.
The University of Michigan Index of consumer sentiment Sentiment rose to 92 from 89.8 in August as consumers felt more confident about current and future economic conditions. While consumers did feel more confident, they contiue to worry about the impact of tariffs on the economy. Their current economic conditions index also rose to 106.9 from 105.3.
The Dow Jones Industrial Average rose for the eight day in a row, which it hasn't done for more than a year. The Index close at 27,219.52. The S&P 500 closed at 3,007.39, and the Nasdaq ended the week at 8,176.71.
As talk about the possibility of a recession diminished, the yields on US Treasuries rose to close higher on the week. The 2-Year was around 1.79%; the 5-Year around 1.75%; the 10-Year around 1.90%; the 20-Year around 2.17%, and the 30-Year around 2.37%.
According to Mortgage News Daily, it was not a good week for mortgages, as the average rate on the 30-year fixed is now 20 basis points higher than it was on Monday and 36 basis points higher than its last low on September 4th. That is the biggest short-term jump since the week following the election of President Donald Trump. Despite this set-back, mortgage rates remain historically low.
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, but not guaranteed. 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. September 14th, 2019.

Still running until September 15th, The 11th Annual Grand Canyon Celebration of Art is held at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.

The Sedona WagFest & Fair starts on September 21. 9:00 AM to 12:00 PM. A perfect day out for dogs and their humans. This canine event will feature booths where you can shop and learn from the area’s best dog-related product & service providers. Demonstrations & contests will be scheduled throughout the event. It’s FREE, fun, & family-friendly! For the safety: All dogs must be current on vaccinations, be kept on a leash, handlers must be 18 years and clean up after your dogs. The Posse Grounds Pavillion, 525 Posse Ground Rd Sedona. For more information, please call 928-204-7127.

The Sedona Winefest is on September 28th and 29th, 2019 from 11:00 AM - 5:00 PM. You are invited to enjoy fabulous Arizona wines, tasty food, music, and vendors galore while enjoying the breathtaking panoramic views of the majestic red rocks in the heart of Sedona. Welcome to the 11th Annual Sedona Winefest. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, please call 928-593-9694.

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:     14    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               4     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:         9     Average  10.9
Price Increases:            2     Average    0.6 

Contract Ratio:  27.50. The average over the last year is 33.30. 

The Average Price per Square Foot of homes that are Under Contract was $302.51 per square foot. The yearly moving average is $313.94 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $279.36 per square foot.

The University of Michigan Index of consumer sentiment rose to 92 from 89.8 in August as consumers felt more confident about current and future economic conditions. It appears that, while consumers felt more confident, they continue to worry about the impact of tariffs on the economy. The UM current economic conditions index also rose to 106.9 from 105.3.

The Dow Jones Industrial Average rose for the eight day in a row, which it hasn't done for more than a year. The Dow 30 Index close at 27,219.52; the S&P 500 closed at 3,007.39, and the Nasdaq ended the week at 8,176.71.

As talk about the possibility of a recession seem to diminish, the yields on US Treasuries rose to close higher on the week. The 2-Year was around 1.79%; the 5-Year around 1.75%; the 10-Year around 1.90%; the 20-Year around 2.17%, and the 30-Year around 2.37%.

According to Mortgage News Daily, it was not a good week for mortgages, as the average rate on the 30-year fixed is now 20 basis points higher than it was on Monday and 36 basis points higher than its last low on September 4th. That is the biggest short-term jump since the week following the election of President Donald Trump. Despite this set-back, mortgage rates remain historically low.

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, but not guaranteed. 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.