Real Estate Information

Weekly Update. April 20, 2019.

Sedona Mago Retreat is hosting a complimentary Earth Day Peace Festival, Prayer Ceremony and Floating Candle Ceremony on Saturday, April 20, from noon to 9 PM. Guests can drive to the ECO Learning Center, which is located at 3360 E. SR 89A in Cottonwood. People can come for the entire event, for the afternoon, or for the evening prayer ceremony. (RSVP Required.) Admission: Free. Time, from: 11:45 AM to 8:30 PM. Call 928-204-3391 for more information. ECO Learning Center, 3360 E State Route 89A Cottonwood.

Cinco de Mayo Celebration. May 4, 2019 from 11:00 AM to 5:00 PM. Immerse yourself in a colorful Fiesta saluting a rich heritage at Tlaquepaque. Enjoy the festivities while cheering and whistling to the music of mariachi musicians, clapping to the steps of Folklorico dancers and savoring traditional Mexican food. Admission is free. There is a free trolley service from the Sedona Municipal parking lot-260 Schnebly Rd. Stop in and be a judge at the Great Sedona Chili Cook-Off (see below). Call (928) 282-4838 for more information. Tlaquepaque, 336 State Route 179 Sedona.

The Great Sedona Chili Cook Off. May 4, 2019. The Rotary Club of Sedona’s annual fundraiser, The Great Sedona Chili Cook-Off is on the Saturday of the Cinco de Mayo weekend at Tlaquepaque Arts & Crafts Village from 11:00 AM to 4:00 PM. All proceeds from the Chili Cook-Off are used for local and international Rotary Club of Sedona Projects, including the Imagination Library. Call (703) 638-0727 for more information. Tlaquepaque, 336 State Route 179 Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         25    Average: 17.8  (New Listings; Back on Market)
Under Contract:     26    Average: 21.9  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      11     Average: 9.4  (Sold; Closed Escrow) 
Off Market:               9     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:       20     Average   9.2
Price Increases:           0     Average   0.9 

Contract Ratio:  41.70. The average over the last year is 36.30. 

The Average Price per Square Foot of homes that are Under Contract was $290.63 per square foot. The yearly moving average is $325.18 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $271.75 per square foot.

After a sharp rise in March retail sales and a report on business inventories, economists surveyed by CNBC/Moody’s Analytics Rapid Update raised their GDP estimates by 0.3 percentage points to a median 2.4%. The most recent previous median forecasts were under 2%, and at a low of 1% earlier in the quarter. The first-quarter GDP is due to be announced on April 26.

The number of Americans filing applications for unemployment benefits fell to a 49-1/2-year low last week. The Labor Department announced that initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 192,000 for the week ended April 13. This is the lowest level since September 1969. The prior week's number was revised to show 1,000 more applications received than previously reported. Claims have now fallen for five straight weeks.

U.S. government debt yields fell on Thursday following the U.S. retail sales data. The yield on the benchmark 10-year Treasury note was down to about 2.55%, and the yield on the 30-year Treasury bond was down to 2.97%. The Dow Jones Industrial Average closed up at 26,559.54, the S&P 500 at 2,905.03, and the Nasdaq Composite closed 7,998.06. U.S.

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. April 13, 2019.

April 20, 2019 is a Celebration of Spring. This is much more than just an egg hunt, this is a Celebration of Spring! Join us from 9:00 a.m.– 2:00 p.m. for this fun, action-packed event for families and all those in the community that enjoy spring and the beautiful outdoors. Inflatable toys for kids, face painting, carnival rides and much more are included with the $5 admission fee for the youth attendees. The Easter bunny will be on hand for picture taking. Posse Grounds Park Sedona,Call (928) 282-7098 for more information.

April 26 - 28, 2019. we have Spring Open Studios, a free, self-guided event celebrating the arts in the greater Verde Valley that runs from 10:00 AM to 5:00 PM, daily. The tour provides a unique opportunity to meet over 50 artists in their private studios, working in a variety of mediums. Maps and informative brochures will be available in a number of locations or at our website. For more information, email Mike Upp mjupp10@gmail.com or call (503) 789-4437.

April 24-28, 2019 is the Verde Valley Birding & Nature Festival. Held in Cottonwood, Arizona this festival provides a unique recreational experience to anyone interested in the natural world and fosters awareness of the importance of habitat for the enrichment of all life in the Verde Valley. 675 Dead Horse Ranch Rd Cottonwood.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         23    Average: 17.7  (New Listings; Back on Market)
Under Contract:     26    Average: 21.8  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average: 9.4  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:       21     Average   9.0
Price Increases:           0     Average   0.9 

Contract Ratio:  38.90. The average over the last year is 36.40. 

The Average Price per Square Foot of homes that are Under Contract was $286.80 per square foot. The yearly moving average is $324.88 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $270.89 per square foot.

The members of the G-20 IMF Meeting in Washington, DC, agree that the global economy had lost some momentum this year, but they expect growth to pick up in the second half of 2019, especially if the U.S. and China trade negotiations end with a positive agreement. However, lack of an agreement will dim the economic outlook.

The Stock Market had another good week. Positive corporate news, with strong bank earnings plu Disney announcing a new streaming service saw the Dow Jones Industrial Average close at 26,412.30. Improvements in the financials and materials sectors had the S&P 500 close at 2,907.41, above 2,900 for the first time in six months, and just 1% from a record high. This was its third consecutive weekly gain. The Nasdaq Composite also advanced to close at 7,984.16. Some of the week's improved optimism was due to new economic data which showed Chinese bank lending rising in March and the country’s trade surplus higher than market expectations.

As investors moved back towards equities, U.S. government debt yields rose, as did international rates. The yield on the benchmark 10-year Treasury note rose to about 2.56%, and the yield on the 30-year Treasury bond increased to about 2.97%. 

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. April 6, 2019.

Wednesday & Saturday Guided Bird Walks. Join a volunteer naturalist at Red Rock State Park on Wednesday and Saturday mornings for a guided bird walk. Red Rock State Park is part of the Lower Oak Creek Important Bird (or Biodiversity) Area designated by National Audubon Society. Numerous species can be viewed from our rooftop observation deck which looks down into our Hummingbird Patio where we have bird feeders up all year long. Bird walk times vary by season, so make sure to check our website for up to date information. Admission: Included with park entry fees: $7/adult (14+), $4/youth (ages 7 - 13). Time: From: 8:00 AM to 10:00 AM. 4050 Red Rock Loop Road Sedona.

The Sedona International Film Festival is showing “Everybody Knows” April 5-11. Oscar-winning filmmaker Asghar Farhadi creates a gripping new thriller about the fissures and fault lines that can tear a family apart. “Everybody Knows” stars Penélope Cruz and Javier Bardem. Admission: $12 admission and $9 for film festival members. Time: 4:00 PM and 7:00 PM. Mary D. Fisher Theatre, 2030 W. State Route 89A Suite A3 Sedona

The Sedona International Film Festival is also showing “Apollo 11” April 5-10. Director Todd Douglas Miller (“Dinosaur 13”) produces a cinematic event fifty years in the making. Crafted from a newly discovered trove of 65mm footage, and more than 11,000 hours of uncatalogued audio recordings, “Apollo 11” takes us straight to the heart of NASA’s most celebrated mission — the one that first put men on the moon. Admission: $12 general admission; $9 for film festival members. Time: 4:00 PM and 7:00 PM. Mary D. Fisher Theatre, 2030 W. State Route 89A Suite A3 Sedona

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         35    Average: 17.7  (New Listings; Back on Market)
Under Contract:     30    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      11     Average: 9.6  (Sold; Closed Escrow) 
Off Market:               9     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:       12     Average   8.8
Price Increases:           1     Average   0.9 

Contract Ratio:  35.30. The average over the last year is 36.60. 

The Average Price per Square Foot of homes that are Under Contract was $290.15 per square foot. The yearly moving average is $324.56 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $270.15 per square foot.

The Bureau of Labor Statistics announced that nonfarm payrolls increased by 196,000 in March, with the unemployment rate remaining at 3.8%. Wage increases slowed, rising by only 0.14% for the month and 3.2% year-on-year, below last month's 3.4%. The average work week increased by 0.1 hour to 34.5 hours. U-6, the unemployment statistic that also counts discouraged workers and those holding part-time jobs for economic reasons, was unchanged at 7.3%, down from 7.9% a year ago.

The Labor Department announced that initial claims for state unemployment benefits declined 10,000 to a seasonally adjusted 202,000 for the week ended March 30. This is the lowest level since early December 1969. The data for the prior week was revised to show 1,000 more applications received than previously reported.

The improving economic numbers, despite recent suggestions of a recession, saw US Treasury yields rise. The benchmark 10-year Treasury note rose to 2.54%, while the yield on the 30-year Treasury bond increased to 2.95%. The Stock Market rose for the second consecutive week with The S&P 500 closing at 2,892.74, the Dow Jones Industrial Average at 26,424.99, and the Nasdaq Composite at 7,938.69. 

Following last week's fall in mortgage rates, the Mortgage Bankers Association said that mortgage application volume increased 18.6% over the previous week and 28% from a year ago. Refinance applications rose 39% for the week reaching the highest level since January 2016. Volume was 58% higher than a year ago, when interest rates were higher.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 4.36% from 4.45%, with points increasing to 0.44 from 0.39 (including the origination fee) for loans with a 20% down payment. The rate was 33 basis points higher than a year ago.

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. March 30, 2019.

April 20, 2019 is a Celebration of Spring. This is much more than just an egg hunt, this is a Celebration of Spring! Join us from 9:00 AM to 2:00 PM for this fun, action-packed event for families and all those in the community that enjoy spring and the beautiful outdoors. Inflatable toys for kids, face painting, carnival rides and much more are included with the $5 admission fee for the youth attendees. The Easter bunny will be on hand for picture taking. Posse Grounds Park Sedona. Call (928) 282-7098 for more information.

April 26 - 28, 2019. we have Spring Open Studios, a free, self-guided event celebrating the arts in the greater Verde Valley that runs from 10:00 AM to 5:00 PM, daily. The tour provides a unique opportunity to meet over 50 artists in their private studios, working in a variety of mediums. Maps and informative brochures will be available in a number of locations or at our website. For more information, email Mike Upp or call (503) 789-4437.

April 24-28, 2019 is the Verde Valley Birding & Nature Festival. Held in Cottonwood, Arizona this festival provides a unique recreational experience to anyone interested in the natural world and fosters awareness of the importance of habitat for the enrichment of all life in the Verde Valley. 675 Dead Horse Ranch Rd Cottonwood.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         23    Average: 17.6  (New Listings; Back on Market)
Under Contract:     20    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average: 9.6  (Sold; Closed Escrow) 
Off Market:               2     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:       13     Average   8.8
Price Increases:            2     Average   0.9 

Contract Ratio:  34.10. The average over the last year is 36.70. 

The Average Price per Square Foot of homes that are Under Contract was $292.68 per square foot. The yearly moving average is $324.26 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $269.18 per square foot.

The Commerce Department announced that U.S. consumer spending rose 0.1% in January and revised the December data down to show consumer spending falling 0.6% versus the previously reported 0.5%. Adjusted for inflation, consumer spending gained 0.1% in January after an unrevised fall of 0.6% in December.

The Personal Consumption Expenditures index, which is the Fed’s preferred inflation measure, excluding the food and energy components, rose 0.1% in January following a rise of 0.2% in December. The year-on-year increase in the core PCE price index was down to 1.8% from 2.0% in December. Personal income rose 0.2% in February after a fall of 0.1% in January.

The Dow Jones Industrial Average closed the week 211.22 points higher at 25,928.68. The S&P 500 rose to 2,834.40, and the Nasdaq Composite closed up at 7,729.32.

U.S. government debt yields were higher on Friday. The yield on the 3-month Treasury bill was around 2.40%. The yield on the 5-year Note was around 2.24%. The yield on the benchmark 10-year Treasury Note was around 2.41%, and the yield on the 30-year Treasury Bond was around 2.82%. Market commentators suggested the market's focus was on the US-China trade talks.

Freddie Mac said that the average rate on the 30-year fixed-rate mortgage fell to 4.06%, down from last week when it averaged 4.28%. This time last year, the 30-year fixed-rate mortgage averaged 4.40%. 

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. March 23, 2019.

Today, March 23, 2019 there is the Student Ceramic Sale at the Sedona Arts Center. Showcasing brilliant works by student ceramicists at Sedona Arts Center! Open Saturday & Sunday 10 am–5 pm Featuring work by: Suzy Allen, Richard Bayles, Linda Bender, Brenda Clark, Shelley Fargo, John Foster, Arlene George, Franz Herbst, Rosie Hooper, Neil Kennedy, Stacy Moore, Annie Murray, Dennis Ott, Irene Peake, Laura Pokorny, John Post, Jeannine Reno, Julie Williams, Rob Williams, Stephen Williamson, and Debbie Wnuk. In the Special Exhibition Gallery. Admission: Free. 15 Art Barn Road Sedona. Call Valerie Pulido 928-282-3809 for more information.

March 25-30, 2019 is the Sedona Wolf Week. Founded by Plan B to Save Wolves & Apex Protection Project this event was created with the mission to change the way people see wolves through education & entertainment. Wolf Week is a diverse program of speakers, performers, school presentations, arts, entertainment, concert, fundraisers, a wolf co-existence panel and social interactions with the Plan B & Apex Protection Project Ambassador Packs. Go to the website to register. Poco Diablo Resort, 1752 AZ-179 Sedona. Call (928) 204-7127 for more information.

April 20, 2019 is a Celebration of Spring. This is much more than just an egg hunt, this is a Celebration of Spring! Join us from 9:00 a.m.– 2:00 p.m. for this fun, action-packed event for families and all those in the community that enjoy spring and the beautiful outdoors. Inflatable toys for kids, face painting, carnival rides and much more are included with the $5 admission fee for the youth attendees. The Easter bunny will be on hand for picture taking.Posse Grounds Park Sedona,Call (928) 282-7098 for more information.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         27    Average: 17.6  (New Listings; Back on Market)
Under Contract:     26    Average: 22.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average: 9.6  (Sold; Closed Escrow) 
Off Market:               4     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:       11     Average   8.7
Price Increases:            0     Average   0.9 

Contract Ratio:  38.50. The average over the last year is 36.90. 

The Average Price per Square Foot of homes that are Under Contract was $290.46 per square foot. The yearly moving average is $323.73 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $268.92 per square foot.

The Treasury announced that the U.S. federal government budget deficit reached $234 billion in February. This was higher than market expectations. Federal spending was $401 billion in February, a year-on-year increase of 8%. Receipts were $167 billion, a year-on-year increase of 7%. The deficit for the fiscal year to date is $544 billion, versus $391 billion for the same period last year.

Chairman Jerome Powell signaled a change in central bank policy, announcing that the Fed is cancelling the intended two rate increases scheduled for this year. They will also end the reduction of the bond portfolio on the Fed balance sheet sooner than planned. This comes with signs of a possible recession, incluidng an inverted Treasury yield curve, data showing lower spending, investment and manufacturing, new indications from Europe of contraction in their economies, and a general nervousness about the global economy.

After the Fed’s announcement, mortgage rates fell. The average rate for a 30-year fixed was down to 4.34%, 19 basis points lower than a year ago. The rate was over 5% at the beginning of November last year, perhaps contributing to fall in home sales in December and January.

The Dow Jones Industrial Average closed down 460.19 points at 25,502.32. The S&P 500 fell to 2,800.71, and the Nasdaq Composite fell 7,642.67.

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. March 16, 2019.

From March 1st to 31st is the 39th Annual Juried Members’ Exhibition and Sale. Artists of all levels, working in all mediums are invited to show their work throughout the month of March in the historic Art Barn Theatre at 15 Art Barn Road, Sedona. For more information call (928) 282-3809.

From March 14the to 17th is the Sedona Yoga Festival. Deepen your practice and tap into ancient wisdom with three days of yoga, music and energy work in the undisputed spiritual center of the West. The flexible conference structure gives you an unparalleled opportunity to weave your own experience in the richly colored cultural and natural tapestry that is Sedona. For more information, call (928) 793-2777.

On March 23, from 12:00-5:00 PM is the Sedona Food Truck Festival. This event will feature great food, live music and a beer garden. Grub, Brews and Tunes! Admission is free. Posse Grounds park, 525 Posse Ground Rd Sedona. For more information, call (928) 204-7127.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         18    Average: 17.2  (New Listings; Back on Market)
Under Contract:     24    Average: 21.8  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     10     Average: 9.5  (Sold; Closed Escrow) 
Off Market:               8     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:       11     Average   8.6
Price Increases:            1     Average   0.9 

Contract Ratio:  40.00. The average over the last year is 36.90. The sudden surge in new listings last week was met with an increase in homes under contract. 

The Average Price per Square Foot of homes that are Under Contract was $290.34 per square foot. The yearly moving average is $323.36 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $268.57 per square foot.

Weekly Update. March 9, 2019.

Today is the annual Sedona St Patrick's Parade & Festival, a free cultural-heritage celebration. The parade starts at 10:30 AM from The Jordan Historical Park along Jordan Road, and ends at Mesquite Avenue. The event is a partnership between NAU Parks and Recreation Program and the City of Sedona Parks and Recreation Department. Uptown Sedona. For details, please call (928) 282-7098

March 14-17, 2019 is the Sedona Yoga Festival. Deepen your practice and tap into ancient wisdom with three days of yoga, music and energy work in the undisputed spiritual center of the West. The flexible conference structure gives you an unparalleled opportunity to weave your own experience in the richly colored cultural and natural tapestry that is Sedona. For details, please call (928) 793-2777.

March 23, 2019 is the Sedona Food Truck Festival. The event features great food, live music and a beer garden. Admission is free. Time: from 12:00 to 5:00 PM. Posse Grounds Park, 525 Posse Ground Rd Sedona. For details, please call (928) 204-7127.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         28    Average: 17.3  (New Listings; Back on Market)
Under Contract:     17    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       5     Average: 9.5  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:       10     Average   8.6
Price Increases:           0     Average   0.9 

Contract Ratio:  32.20. The average over the last year is 36.90. The jump in New Listings, versus those under contract or sold, is the highest in about a year, although one week proves nothing. 

The Average Price per Square Foot of homes that are Under Contract was $294.60 per square foot. The yearly moving average is $322.97 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $268.22 per square foot.

The Labor Department announced that nonfarm payrolls increasing by only 20,000 in February. Following a stunning start to the year, this is the worst month since September 2017. Some commentators suggested that the sudden change may be due to the way in which the Labor Department calculate their headline numbers.  

The seasonally adjusted unemployment rate for February fell to 3.8% from 4%, while the seasonally adjusted Total Unemployed number, U-6, dropped sharply to 7.3% in February from 8.1% in January. Average hourly earnings increased by 3.4% year-on-year, the best number in the last 10 years.

After the release of the job numbers, the yield on the benchmark 10-year Treasury note closed around 2.63% having reached a low of 2.61% during the day. The Stock Market fell for the fifth straight day. The Dow Jones Industrial Average closed at 25,450.24, the S&P 500 at 2,743.07, and the Nasdaq Composite at 7,408.14. Commentators suggested that the retracement was due to concerns over growth in the global economy.

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. March 2, 2019.

Sedona International Film Festival & Workshop is drawing to a close. It is the greatest celebration of the best in independent film from around the world, and features shorts, documentaries, animation, foreign and student films. The Festival covers nine days with more than 160 films. Contact (928) 282-1177. 2030 W State Route 89A,Ste A-3 Sedona.

The Sedona Mountain Bike Festival is a 3-day celebration that includes a Main Expo/Festival, Bike Demos, Shuttled Rides, a Beer Garden, great Bands for (3) nights and a whole lotta sweet RED SINGLETRACK. Contact (928) 282-1106. 525 Posse Ground Rd Sedona.

The Sedona St Patrick’s Parade & Festival will be on March 9, 2019. The St Patrick's Parade & Festival is a cultural-heritage celebration that is free to attend. The parade starts at 10:30 AM from The Historical Park along Jordan Road and ends at Mesquite Avenue. This event is a partnership between NAU Parks and Recreation Program and the City of Sedona Parks and Recreation Department. Contact (928) 282-7098. 102 Roadrunner Drive Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         14    Average: 17.4  (New Listings; Back on Market)
Under Contract:     15    Average: 22.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average: 9.6  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        5     Average   8.6
Price Increases:           1     Average   0.9 

Contract Ratio:  32.90. The average over the last year is 37.10. 

The Average Price per Square Foot of homes that are Under Contract was $297.83 per square foot. The yearly moving average is $322.55 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $267.57 per square foot.

The Institute for Supply Management announced that their ISM Manufacturing Index fell to 54.2 in February from 56.6 in January, reaching the lowest level in more than two years. The ISM said that a fall in new orders, production, employment and prices were all contributors to the index's decline.

The Commerce Department announced that personal income fell 0.1% in January against 1.0% rise in December. This was the first decline since November 2015 and the first time in more than three years. This was due to a fall in dividends and interest payments and suggests we will see only moderate growth in consumer spending over the next period.

The stock market closed the week at higher levels. The  S&P 500 closed up 0.7% at 2,803.69. This was the first close above 2,800 since November 8th. The Dow Jones Industrial Average closed 110.32 points higher at 26,026.32, and the Nasdaq Compositeclosed 0.8% higher at 7,595.35.

The release of economic data saw US Government Debt yields increase. The benchmark 5-year Treasury was around 2.56%, the 10-year note was around 2.76%, and the yield on the 30-year bond was around 3.13%.

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. February 23, 2019.

In commemoration of Black History Month, Emerson Theater Collaborative presents playwright Kenneth Jones’ Alabama Story at Sedona United Methodist Church February 22 – 24, 2019. Admission: $25 Gen Adm $20 Seniors, Students and veterans. Time: From: 7:00 PM to 8:30 PM. 110 Indian Cliffs Rd Sedona.

Today is the 3rd annual Dream Run 5K/10K is a gorgeous trail run beginning and ending at Verde Valley School, rambling through the Red Rock Ranger District (USFS). Open to the public, with prizes in many categories, the event benefits tuition assistance for Native American high school students at VVS. There will be food and Indigenous music and dance (Hopi). All are welcome, including hikers, children, and dogs on leash. Come join the fun and check out the amazing campus at this international boarding school. Admission: $30. Time: Starting: 10:00 AM. Verde Valley School, 3511 Verde Valley School Rd Sedona.

Join Mitch Ott, The Modern Medium, today at The Sedona Creative Life Center. Join him in the Sedona Room at the Sedona Creative Life Center for an evening of messages from Spirit. Mitch is gifted not just with the abilities to channel, but is also known for his ability to get you to your BREAKTHROUGH. Based out of the Greater Philadelphia Area, Mitch has gained an impressive following as the area's Modern Medium. Admission: $25. Time: From: 7:00 PM to 9:00 PM. In The Sedona Room, 333 Schnebly Hill Rd Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         13    Average: 17.6  (New Listings; Back on Market)
Under Contract:     15    Average: 22.5  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       2     Average: 9.7  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        3     Average   8.7
Price Increases:           0     Average   0.9 

Contract Ratio:  37.20. The average over the last year is 37.20. 

The Average Price per Square Foot of homes that are Under Contract was $291.28 per square foot. The yearly moving average is $322.00 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $267.64 per square foot.

The National Association of Realtors announced that U.S. home sales fell 1.2% to a seasonally adjusted annual rate of 4.94 million units in January. This is the lowest level in more than three years. House prices rose slightly, with the median existing house price increasing 2.8% year-on-year to $247,500 in January. This is the smallest increase since February 2012.

In its semi-annual monetary policy report to Congress, the Federal Reserve said that the U.S. economy maintained solid growth through the second half of 2018, expanding at just under 3% for the year even though consumer and business spending had begun to weaken. The Fed said it had put further interest rate rises on hold, referring to its need to have a balanced policy between a positive outlook for the economy and a possible series of global and domestic risks.

With trade talks between the U.S. and China continuing, U.S. government debt yields fell on Friday. The yield on the benchmark 10-year Treasury note was around 2.65%, and the yield on the 30-year Treasury bond was around 3.02%.

The Dow Jones Industrial Average rose 181.18 points to 26,031.81, as it closed above 26,000 for the first time since early November. The Nasdaq Composite rose to 7,527.54 as tech shares improved.

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. February 16, 2019.

Chocolate Lovers’ Special. Today, enjoy Big, wild Arizona views; cozy romantic seating perfect for snuggling; delicious beverages to suit all tastes; mated Bald Eagles soaring overhead. What could make a late Valentine’s Day aboard Verde Canyon Railroad even better? Chocolate, and lots of it; flowing fountains of chocolate and pastries plated to the tables in this special seasonal First Class upgrade. Admission: $129. Time: From: 1:00 PM to 5:00 PM. Verde Canyon Railroad, 300 N Broadway Clarkdale.

The Sedona International Film Festival is proud to present the Northern Arizona premieres of the 2019 Oscar Documentary Shorts Programs Feb. 15-20. Now an annual film festival tradition, Sedona audiences will be able to see all of the short documentary films nominated for Academy Awards before the Oscar telecast in late February. Admission: $12 general admission; $9 for film festival members. Time: 4 p.m. and 7 p.m. (please check website). Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona.

Volunteer Trail Construction. Today, you can help with the Western Gateway Trail Construction, co-sponsored by the Sedona Chamber of Commerce. Meet at Girdner Trail Head, across from the Upper Red Rock Loop Rd near the High School. Bring sturdy closed toe shoes, long pants & gloves, sunscreen, water and snacks. Admission: Free. Time: From: 8:30 AM to 12:30 PM. Contact Donna Retegan for details. Phone: 928-282-7890.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         17    Average: 17.7  (New Listings; Back on Market)
Under Contract:     31    Average: 22.6  (Active-Contingency Removal; Pending-Take Backup; Pending)
Closed Escrow:     13     Average: 9.8  (Sold; Closed Escrow)
Off Market:               6     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:       10     Average   8.8
Price Increases:            0     Average   0.9 

Contract Ratio:  34.60. The average over the last year is 37.20. The Ratio has increased due a drop in listings available for sale, especially in West Sedona.

The Average Price per Square Foot of homes that are Under Contract was $284.85 per square foot. The yearly moving average is $321.49 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $268.37 per square foot.

The Labor Department released figures showing that real average hourly earnings, (the nominal rise in wages against the cost of living) rose 1.7% in January on a year-over-year basis. Lat month, the increase was 1.3%, and a year ago, the increase was 0.7%. This rise in inflation-adjusted hourly pay was the largest increase since July 2016.

On Friday, with high hopes of a US - China trade deal, the Dow Jones Industrial Average rose 443.86 points to 25,883.25. The S&P 500 rose 1.1% to close at 2,775.60, and the Nasdaq Composite rose 0.6% to close at 7,472.41. This was an eight week improvement for the Dow, the longest since Nov. 3, 2017. It was also the eighth consecutive weekly gain for the Nasdaq, and the seventh for the S&P 500.

U.S. government debt yields remained steady with the yield on the benchmark 10-year Treasury note slightly higher at 2.66% and the yield on the 30-year Treasury bond slightly lower at 2.99%.

A recent poll from Gallup showed that nearly 7 out of 10 participants expected to be "better off" financially by this time next year. The company surveyed 1,017 U.S. adults by phone in January. This level of optimism hasn't been seen for 16 years, as half of respondents said they are in better financial shape than a year ago.

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.