Weekly Update. March 10, 2018.
Bird enthusiasts can join a naturalist for a guided walk appropriate for beginner and advanced birders. No reservations necessary. The Audubon Society has designated Red Rock State Park as part of the Lower Oak Creek Important Birding Area (IBA) because of the many species that live or visit here. Please meet up with the leader on the viewing deck above the Visitor Center. Admission is $7 per adult (14+) and $4 per youth (7-13) and they're open from 8:00 AM to 10:00 AM.
In the Village of Oak Creek, at the Sedona Vista Village, is the Oak Creek Arts and Crafts Show. Over 50 of the finest artist from the Southwest and beyond, as well as live entertainment. Shows offer homemade treats, local teas, coffees, and an outdoor patio with beautiful views serving the best food, wine, and craft beer. Admission is free and they're open from 9:00 AM to 5:00 PM.
Guitarist JJ Sansaverino is an incredible performer. He has a “take no prisoners” performance attitude and his musical style, is a mix of R&B, smooth jazz and fusion ala Santana meets Benson. He will be at Soundbites Grill to entertain you. Admission is $25-$85 from 7:00 PM to 9:00 PM.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year.
This week's numbers are,
New Listings: 32 Average: 17.6 (New Listings; Back on Market)
Under Contract: 33 Average: 21.4 (Active-Contingency Removal; Pending-Take Backup; Pending)
Closed Escrow: 9 Average: 9.1 (Sold; Closed Escrow)
Off Market: 5 Average: 5.9 (Canceled; Expired; Temporary Off Market)
Price Reductions: 10 Average 9.6
Price Increases: 1 Average 0.7
Contract Ratio: 40.70. The average over the last year is 30.90.
The Average Price per Square Foot of homes that are Under Contract was $272.75 per square foot. The yearly moving average is $255.81 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $245.77 per square foot.
So, a 5 home jump in available listings is matched by an 8 home jump in homes under contract. If the market's not hot, it is certainly warm.
The Labor Department announced that the economy added 313,000 jobs in February. The unemployment rate remained at 4.1% meaning there were 95 million Americans still sitting on the sidelines. According to the government's household survey, the labor force increased by 806,000 allowing the labor force participation rate to reach 63%, the highest since September 2003. 653,000 people are no longer counted as being out of the labor force The total counted as "employed" in the household survey increased by 785,000 to a record 155.2 million. A different unemployment measure, U-6 that takes into account those out of the workforce and the underemployed, remained steady at 8.2%.
The jobs market continues to defy expectations, and run contrary to the opinions of economists and officials at the Federal Reserve, who pronounce the U.S. at "full employment". This report seems to show that there is still plenty of room for growth, and the markets reacted accordingly with equities up and boonds down.
U.S. government debt yields increased after jobs report. The yield on the 2-year Treasury rose to 2.29% reaching the high of February 28th. The yield on the benchmark 10-year Treasury note rose to 2.89%, and the yield on the 30-year Treasury bond increased to 3.16%.
The Dow Jones industrial average rose 440.53 points to close at 25,335.74. The DJI also closed above its 50-day moving average, an important matter for technical analysts. The S&P 500 rose to close at 2,786.57, with financials as the best-performing sector. It also closed above its 50-day moving average.
If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.
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 BloomTree Realty.
Weekly Update. March 10, 2018.
Bird enthusiasts can join a naturalist for a guided walk appropriate for beginner and advanced birders. No reservations necessary. The Audubon Society has designated Red Rock State Park as part of the Lower Oak Creek Important Birding Area (IBA) because of the many species that live or visit here. Please meet up with the leader on the viewing deck above the Visitor Center. Admission is $7 per adult (14+) and $4 per youth (7-13) and they're open from 8:00 AM to 10:00 AM.
In the Village of Oak Creek, at the Sedona Vista Village, is the Oak Creek Arts and Crafts Show. Over 50 of the finest artist from the Southwest and beyond, as well as live entertainment. Shows offer homemade treats, local teas, coffees, and an outdoor patio with beautiful views serving the best food, wine, and craft beer. Admission is free and they're open from 9:00 AM to 5:00 PM.
Guitarist JJ Sansaverino is an incredible performer. He has a “take no prisoners” performance attitude and his musical style, is a mix of R&B, smooth jazz and fusion ala Santana meets Benson. He will be at Soundbites Grill to entertain you. Admission is $25-$85 from 7:00 PM to 9:00 PM.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year.
This week's numbers are,
New Listings: 32 Average: 17.6 (New Listings; Back on Market)
Under Contract: 33 Average: 21.4 (Active-Contingency Removal; Pending-Take Backup; Pending)
Closed Escrow: 9 Average: 9.1 (Sold; Closed Escrow)
Off Market: 5 Average: 5.9 (Canceled; Expired; Temporary Off Market)
Price Reductions: 10 Average 9.6
Price Increases: 1 Average 0.7
Contract Ratio: 40.70. The average over the last year is 30.90.
The Average Price per Square Foot of homes that are Under Contract was $272.75 per square foot. The yearly moving average is $255.81 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $245.77 per square foot.
So, a 5 home jump in available listings is matched by an 8 home jump in homes under contract. If the market's not hot, then it is certainly warm.
The Labor Department announced that the economy added 313,000 jobs in February. The unemployment rate remained at 4.1% meaning there were 95 million Americans still sitting on the sidelines. According to the government's household survey, the labor force increased by 806,000 allowing the labor force participation rate to reach 63%, the highest since September 2003. 653,000 people are no longer counted as being out of the labor force The total counted as "employed" in the household survey increased by 785,000 to a record 155.2 million. A different unemployment measure, U-6 that takes into account those out of the workforce and the underemployed, remained steady at 8.2%.
The jobs market continues to defy expectations, and seems to run contrary to the opinions of economists and officials at the Federal Reserve, who pronounce the U.S. at "full employment". This report seems to show that there is still plenty of room for growth, and the markets reacted accordingly with equities up and bonds down.
After the jobs report, U.S. government debt yields increased. The yield on the 2-year Treasury rose to 2.29% reaching the high of February 28th. The yield on the benchmark 10-year Treasury note rose to 2.89%, and the yield on the 30-year Treasury bond increased to 3.16%.
The Dow Jones industrial average rose 440.53 points to close at 25,335.74. Notably, the DJI closed above its 50-day moving average, an important matter for technical analysts. The S&P 500 rose to close at 2,786.57, with financials as the best-performing sector. It also closed above its 50-day moving average.
If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.
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 BloomTree Realty.