The short answer: Sedona is not simply a buyer’s market or a seller’s market right now. It depends heavily on the location, the price range and how accurately a property is positioned from the beginning.

Current Sedona MLS data shows a market with substantial inventory and meaningful negotiating opportunities in some segments, while well-positioned homes in other segments are still selling quickly and very close to asking price.

That is why broad headlines about the “Sedona housing market” can be misleading.

I analyzed current single-family home inventory in Sedona proper, ZIP code 86336, and the Village of Oak Creek area, ZIP code 86351, and compared it with closed, cancelled and expired listings from the previous 90 days.

The differences are significant.

What Is Happening in the Sedona Real Estate Market Right Now?

There are currently 142 active single-family homes in the Sedona and Village of Oak Creek market included in this MLS snapshot.

But current inventory alone does not tell us whether buyers or sellers have the advantage.

The more useful question is:

What happened to the homes that recently came through the market?

During the most recent 90-day period analyzed, single-family homes that successfully closed in Sedona proper, 86336, had a median market time of 50 days.

In 86351, including the Village of Oak Creek area, successful sales took longer, with a median market time of 80.5 days.

At first glance, that might make Sedona proper look like the stronger seller’s market.

But there is another side to the story.

Among completed listing outcomes in Sedona proper, 48.6486% cancelled or expired rather than selling.

In 86351, the failure rate was lower at 36.5079%.

So homes that sell in Sedona proper are selling faster — but a larger percentage of listings are failing altogether.

That is an important distinction.

Are Sedona Sellers Still Getting Close to Their Asking Price?

Yes, but again, location matters.

During the past 90 days, successful single-family home sales in 86336 achieved a median 97.4194% sold-to-final-list-price ratio.

In 86351, successful sellers received a median 98.8517% of final list price.

That tells us buyers are not simply making dramatically discounted offers across the entire Sedona market.

When buyers believe a home is properly positioned, they are still paying very close to the seller’s final asking price.

The challenge is getting the pricing and positioning right before significant market time accumulates.

How Much Does Location Affect Sedona Home Prices?

Quite a bit.

The median asking price for a current single-family home in Sedona proper, 86336, is $1,685,000.

In 86351, the median asking price is $1,050,000.

That is a difference of exactly $635,000.

Price per square foot shows another substantial gap.

Current active single-family homes have a median asking price of:

• $592.00 per square foot in 86336

• $437.31 per square foot in 86351

For buyers, that means purchasing power can change considerably depending on where they focus their Sedona home search.

For sellers, it is another reason that using a broad “Sedona average” to determine home value can be misleading.

Are Sedona Homes Sitting on the Market Longer?

A significant portion of the current inventory has accumulated considerable market time.

Of the 142 active single-family homes analyzed:

• 117, or 82.39%, have been on the market more than 30 days

• 81, or 57.04%, have been on the market more than 90 days

• 61, or 42.96%, have been on the market more than 120 days

• 31, or 21.83%, have been on the market more than 180 days

That does not mean every Sedona home should take several months to sell.

In fact, some segments are moving considerably faster.

It means that once a listing fails to connect with the market, substantial market time can accumulate.

That is especially important for sellers considering the strategy of starting high and reducing the price later.

Are Sedona Sellers Reducing Their Prices?

Yes.

Of the 142 current active single-family listings, 67 are priced below their original list price.

That is 47.18% of the active market.

Among those reduced listings, the median reduction is $75,000, or 6.10%.

Price reductions themselves are not necessarily a problem. Markets change, seller circumstances change and sometimes new information requires a pricing adjustment.

The more interesting question is what happened before the reduction became necessary.

One Sedona price range provides an unusually clear example.

Why Pricing From the Beginning Matters

In Sedona proper between $2,000,000 and $2,999,999, 11 single-family homes successfully closed during the past 90 days.

Their median market time was just 31 days.

Their median sold-to-list ratio was exactly 100.0000%.

And none of those 11 successful sales had reduced from their original asking price.

During the same period and in the same price range, 12 listings cancelled or expired.

Eight of those 12 unsuccessful listings had already reduced their asking price.

Their median price reduction was 9.0576%, and their median market time was 117 days.

This does not mean that reducing a price causes a property not to sell.

It shows something more useful:

The homes that successfully sold and the homes that ultimately failed followed very different pricing and market-time patterns.

A later reduction can change the asking price.

It cannot erase the time a property has already spent on the market.

Where Do Sedona Buyers Have More Negotiating Power?

Buyer leverage also varies dramatically by price range.

At the upper end of Sedona proper, buyers currently have considerably more choice.

There are 19 active single-family homes priced at $3 million or more in 86336, while only 5 homes in that price range closed during the previous 90 days.

At that recent sales pace, the current inventory represents approximately 11.4 months of supply.

Those five sales achieved a median 88.8889% sold-to-list ratio, and 64.2857% of recent resolved listings in this tier cancelled or expired rather than selling.

That is a market where buyers have evidence supporting patience and negotiation.

Compare that with 86351 below $800,000.

There are currently 11 active single-family homes in that range, while 20 closed during the previous 90 days.

That represents approximately 1.65 months of inventory at the recent sales pace.

Those 20 sales achieved a median 98.7521% sold-to-list ratio.

The negotiating strategy for those two buyers should not be the same.

So, Is Sedona a Buyer’s Market?

In some price ranges, yes.

In others, not nearly as much.

A buyer looking above $3 million in Sedona proper currently has substantially more negotiating leverage than someone pursuing a well-positioned home below $800,000 in the Village of Oak Creek area.

Likewise, a seller cannot rely on the simple idea that “Sedona is desirable, so my home will sell.”

Demand exists.

But current MLS results show buyers are distinguishing sharply between the properties they believe justify their price and those they do not.

What I Expect Over the Next 60 Days

Based on the current inventory and recent listing outcomes, I expect the Sedona market to remain selective rather than uniformly weak or strong.

Well-positioned homes should continue to sell, and some may still sell quickly and very close to asking price.

Listings carrying significant market time will likely face greater pressure from competing inventory, buyer scrutiny and pricing history.

Luxury buyers should continue to have meaningful negotiating opportunities, particularly in Sedona proper at the upper end of the market.

Lower-priced inventory — especially well-positioned single-family homes — should remain more competitive because buyers simply have fewer choices.

Most importantly, I would not use a single Sedona-wide statistic to make a buying, selling or pricing decision.

The ZIP code, price range, property and competition all matter.

The Bottom Line on the Sedona Real Estate Market

The current Sedona real estate market is not giving us a simple buyer’s-market-versus-seller’s-market answer.

It is giving us something more useful.

Properties buyers believe are properly positioned are still selling. Properties that miss the market can accumulate substantial time, reductions and, in many cases, never sell at all.

For buyers, that means understanding exactly where you have leverage before deciding how aggressively to negotiate.

For sellers, it means accurate pricing is not about pricing low. It is about finding the number the market will validate before market time begins working against the property.

My family has been involved in Sedona real estate since 1970, and I have watched this market through very different cycles. Today, I combine that long local perspective with current MLS behavior to help buyers and sellers make decisions based on what is actually happening — not national headlines or assumptions about the Sedona market.

If you are considering buying or selling a home in Sedona or the Village of Oak Creek, I am always happy to look at the specific neighborhood and price range with you.

Market data used in this analysis is based on single-family residential MLS activity in ZIP codes 86336 and 86351, including a current active-inventory snapshot and closed, cancelled and expired listing activity from May 18 through August 15, 2026. Sold-to-list ratios are calculated using final list price. Market statistics are a snapshot and will change as new properties are listed, sold, cancelled or expire.