By Juliana Walter | Red Rock News
Sedona’s available housing market has dropped to just 15% of the city’s regular housing inventory.
“We were running probably an average of 200 active listings at any given time, sometimes a little more. Right now, we’re right around 30,” Drew Clark of RE/Max Sedona said.
With only these few and far between listings in the area, Sedona has been a long way away from a buyers’ market for months with even fewer options for affordable housing as the market continues to shut out anyone short of a million dollars.
The Seller’s Market
“[The buyers are] kind of 50-50. When Airbnb first passed, I would say it was a lot more investors,” Sedona-based Coldwell Banker Realty agent Danielle Giann said, referencing Senate Bill 1350, which was signed into law in 2015, legalizing vacation rentals statewide. “But now I noticed that I’ve had lots of clients that are looking to make Sedona their full-time home. They’re not interested in the Airbnb aspect of a property as much. But it really depends on what property they resonate with though.”