Weekly Update. November 9th, 2019.
Today, Saturday November 9th, The Sedona International Film Festival has the next Met Live Opera presentation of Giacomo Puccini’s “Madama Butterfly”. There will be two shows, one at 11"00 AM (a live simulcast) and one at 4:00 PM (encore). Anthony Minghella’s vividly cinematic staging returns to cinemas, featuring soprano Hui He in the devastating title role. Pier Giorgio Morandi conducts one of opera’s most beautiful and heartbreaking scores. Admission: $25 general admission; $22 film festival members; $15 students. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. For more information, call Patrick Schweiss on (928) 282-1177.
Monday November 11th, the Sedona Heritage Museum and City of Sedona join to present this annual Veteran’s Day tribute. This event has become the community’s official Veteran’s Day celebration. The day begins with the flag ceremony, dignitaries, a veteran’s tribute and music. After the program, there is free food and entertainment. All veterans and active military personnel will be honored and are invited. Free and open to the general public. Time: 11:00 AM to 1:00 PM. The Sedona Heritage Museum, 735 Jordan Rd, Sedona. For more information, call the Sedona Historical Society on (928) 282-7038.
Wednesday, November 13 2019, OLLI Sedona Community Forum hosts Karen Osburn, Sedona’s Assistant City Manager, and Robert Pickels, Sedona City Attorney will address the recent rapid increase in short-term vacation rentals. Find out when and why this movement took off, the pros and cons, and what the city can do to minimize problems. Learn more about the Sedona city government’s role in overseeing this change in the community. Admission free. Time 12:30 PM to 1:30 PM. Room 34, Yavapai College Sedona Center, 4215 Arts Village Dr. Sedona. For more information, call the Osher Lifelong Learning Institute on (928) 649-4275.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:          7    Average: 18.1  (New Listings; Back on Market) 
Under Contract:     10    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)
Price Reductions:         4     Average  11.5
Price Increases:             0     Average    0.7
 
Contract Ratio:  34.30. The average over the last year is 33.80. 
The Average Price per Square Foot of homes that are Under Contract was $290.61 per square foot. The yearly moving average is $302.03 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $281.34 per square foot.
The continuing generous supply of money from the Federal Reserve, and new hopes for a phase one trade agreement with China, plus the outside possibility of the United States-Mexico-Canada (USMCA) trade agreement getting Congressional support, prompted further improvement in the Stock Markets. At the end of the week, The Dow Jones Industrial Average closed the week up at 27,681.24, The S&P 500 up at 3,093.08, and The Nasdaq Composite up at 8,475.31.
The economic influences that created improvement in the Stock markets saw US Treasury yields rise, again. The 2-Year closed around 1.68%; the 5-year around 1.74%; the 10-Year around 1.94%; the 20-Year around 2.27%, and the 30-Year round 2.43%. The inverted yield curve from earlier this year, deemed to be a major indication of a recession, has now been undone.
The Mortgage Bankers Association Market Composite Index, a measure of mortgage loan application volume, decreased 0.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index increased 2% from the previous week. The seasonally adjusted Purchase Index decreased 3% from one week earlier, and the unadjusted Purchase Index decreased 4%. 
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. November 9th, 2019.

Today, Saturday November 9th, The Sedona International Film Festival has the next Met Live Opera presentation of Giacomo Puccini’s “Madama Butterfly”. There will be two shows, one at 11"00 AM (a live simulcast) and one at 4:00 PM (encore). Anthony Minghella’s vividly cinematic staging returns to cinemas, featuring soprano Hui He in the devastating title role. Pier Giorgio Morandi conducts one of opera’s most beautiful and heartbreaking scores. Admission: $25 general admission; $22 film festival members; $15 students. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. For more information, call Patrick Schweiss on (928) 282-1177.

Monday November 11th, the Sedona Heritage Museum and City of Sedona join to present this annual Veteran’s Day tribute. This event has become the community’s official Veteran’s Day celebration. The day begins with the flag ceremony, dignitaries, a veteran’s tribute and music. After the program, there is free food and entertainment. All veterans and active military personnel will be honored and are invited. Free and open to the general public. Time: 11:00 AM to 1:00 PM. The Sedona Heritage Museum, 735 Jordan Rd, Sedona. For more information, call the Sedona Historical Society on (928) 282-7038.

Wednesday, November 13 2019, OLLI Sedona Community Forum hosts Karen Osburn, Sedona’s Assistant City Manager, and Robert Pickels, Sedona City Attorney will address the recent rapid increase in short-term vacation rentals. Find out when and why this movement took off, the pros and cons, and what the city can do to minimize problems. Learn more about the Sedona city government’s role in overseeing this change in the community. Admission free. Time 12:30 PM to 1:30 PM. Room 34, Yavapai College Sedona Center, 4215 Arts Village Dr. Sedona. For more information, call the Osher Lifelong Learning Institute on (928) 649-4275.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:          7    Average: 18.1  (New Listings; Back on Market) 
Under Contract:     10    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:         4     Average  11.5
Price Increases:            0     Average    0.7 

Contract Ratio:  34.30. The average over the last year is 33.80.
 
The Average Price per Square Foot of homes that are Under Contract was $290.61 per square foot. The yearly moving average is $302.03 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $281.34 per square foot.

The continuing generous supply of money from the Federal Reserve, and new hopes for a phase one trade agreement with China, plus the outside possibility of the United States-Mexico-Canada (USMCA) trade agreement getting Congressional support, prompted further improvement in the Stock Markets. At the end of the week, The Dow Jones Industrial Average closed the week up at 27,681.24, The S&P 500 up at 3,093.08, and The Nasdaq Composite up at 8,475.31.

The economic influences that created improvement in the Stock markets saw US Treasury yields rise, again. The 2-Year closed around 1.68%; the 5-year around 1.74%; the 10-Year around 1.94%; the 20-Year around 2.27%, and the 30-Year round 2.43%. The inverted yield curve from earlier this year, deemed to be a major indication of a recession, has now been undone.

The Mortgage Bankers Association Market Composite Index, a measure of mortgage loan application volume, decreased 0.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index increased 2% from the previous week. The seasonally adjusted Purchase Index decreased 3% from one week earlier, and the unadjusted Purchase Index decreased 4%.
 
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.