The short answer: yes. Current MLS data shows a substantial price difference between Sedona proper and the Village of Oak Creek area — and for buyers under $1 million, that difference becomes even more important.

When people begin searching for homes in Sedona, they often look at the area as one real estate market.

But Sedona proper, ZIP code 86336, and the Village of Oak Creek area, ZIP code 86351, are behaving quite differently right now.

For buyers, that can translate into a significant difference in purchasing power.

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

How much less expensive is the Village of Oak Creek than Sedona proper?

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

In 86351, including the Village of Oak Creek area, the median asking price is $1,050,000.

That is a difference of exactly $635,000.

The difference remains substantial when we look at asking price per square foot.

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

That is a difference of $154.69 per square foot, with the 86351 median asking price per square foot running 26.13% below 86336.

For buyers who love Sedona but are trying to determine where their budget gives them the most options, that is a meaningful difference.

Where are the Sedona homes under $1 million?

This is where the contrast becomes especially interesting.

There are currently 42 active single-family homes priced below $1 million across the Sedona proper and 86351 markets included in this MLS snapshot.

Of those 42 homes:

22 are in 86351.

That means 52.38% of all current sub-$1 million single-family inventory is located in 86351, even though 86351 accounts for only 36.62% of the total active single-family inventory analyzed.

In other words, 86351 represents a little more than one-third of the overall inventory but contains more than half of the homes currently available below $1 million.

For buyers searching for a Sedona-area home under $1 million, that matters.

Does a buyer actually get more house for the money in 86351?

Current inventory says yes.

Among active single-family homes priced below $1 million, the median asking price in 86336 is $832,000.

In 86351, it is $801,500.

So the median asking price is $30,500 lower in 86351.

But the size difference goes in the opposite direction.

The median home below $1 million in 86336 contains 1,695.5 square feet.

In 86351, the median is 1,916 square feet.

That's 220.5 additional square feet at a lower median asking price.

Median asking price per square foot in the sub-$1 million segment is also different:

• 86336: $486.02 per square foot
• 86351: $404.495 per square foot

So in the current inventory, buyers looking below $1 million generally have both more choices and more purchasing power in 86351.

That does not mean every home in the Village of Oak Creek is a better value than every home in Sedona proper.

Views, condition, lot size, architecture, location, improvements and individual property characteristics matter tremendously here.

But it does show why buyers should compare the two markets rather than assuming their budget will work the same way throughout Sedona.

Does more affordable mean the Village of Oak Creek is a weak market?

No — and this is one of the more interesting findings in the data.

During the most recent 90-day period analyzed, successful single-family home sales in 86351 achieved a median 98.8517% sold-to-final-list-price ratio.

Successful sales in Sedona proper achieved a median 97.4194%.

So even though 86351 has a substantially lower median asking price, successful sellers there actually received a slightly greater percentage of their final asking price.

The listing-outcome data tells a similar story.

In Sedona proper, 48.6486% of resolved single-family listing outcomes cancelled or expired rather than selling during the period analyzed.

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

Successful properties did take longer to sell in 86351 — a median 80.5 days, compared with 50 days in 86336 — but a higher percentage of sellers ultimately succeeded.

Affordability and weakness are not the same thing.

What is happening below $800,000 in the Village of Oak Creek?

The lower-priced segment provides an even clearer example.

In 86351 below $800,000, 20 single-family homes closed during the past 90 days.

Those sellers received a median 98.7521% of final asking price.

Only 23.0769% of resolved listings in that price range cancelled or expired rather than selling.

There are currently 11 active homes below $800,000 in 86351.

At the recent sales pace, that represents approximately 1.65 months of current inventory.

So although the Village of Oak Creek provides more lower-priced options than Sedona proper, buyers should not assume that every well-positioned home will come with substantial negotiating room.

Individual listing history still matters.

What does this mean for someone buying a home in Sedona?

If your budget is below $1 million — or even around $1 million to $1.5 million — I would absolutely include the Village of Oak Creek in your search rather than focusing exclusively on Sedona proper.

You may find:

• A lower purchase price
• More square footage for the money
• A lower price per square foot
• More single-family choices within your budget

But buyers should still evaluate each property individually.

A newly listed, well-positioned home in a strong price band may offer very different negotiating opportunities than a home that has already spent several months on the market and experienced one or more price reductions.

The question shouldn't simply be, “Is Sedona a buyer's market?”

A better question is:

How much negotiating leverage does a buyer have on this particular home, in this particular price range, in this particular part of Sedona?

What does this mean for Village of Oak Creek homeowners?

The fact that 86351 is more affordable than Sedona proper does not mean homeowners should discount the value of their property.

Recent closed-sale behavior shows buyers are still willing to pay very close to final asking price for homes they believe are correctly positioned.

It does mean that a Village of Oak Creek home should be evaluated against relevant Village of Oak Creek competition and recent sales, rather than relying on a citywide Sedona price or price-per-square-foot average.

That distinction can make a substantial difference when pricing a home for sale.

Is Sedona proper worth the higher price?

That is ultimately a lifestyle and property-specific question rather than one MLS statistics can answer.

Some buyers specifically want West Sedona, Uptown, the Chapel area, Oak Creek Canyon or another location within 86336 and are willing to pay the premium associated with that choice.

Others discover that the Village of Oak Creek offers the combination of home, views, neighborhood and lifestyle they are looking for at a substantially different price point.

Neither choice is automatically better.

The important part is understanding what you are paying for — and what alternatives exist.

The bottom line

Yes, the Village of Oak Creek area is currently more affordable than Sedona proper based on several different measures.

The current median single-family asking price is $1,050,000 in 86351 compared with $1,685,000 in 86336.

That's a $635,000 difference.

Buyers below $1 million also have disproportionately more choices in 86351, where 52.38% of all current sub-$1 million single-family inventory is located.

And current sub-$1 million inventory in 86351 offers a larger median home at a lower median asking price than comparable price-tier inventory in 86336.

At the same time, recent sales show that more affordable does not mean buyers can automatically expect steep discounts.

The Sedona real estate market is highly local, and sometimes crossing a ZIP code changes both the price and the negotiating environment.

My family has been part of Sedona real estate since 1970, and one of the things that long local perspective reinforces is that there has never really been one single “Sedona market.”

Today, I combine that local history with current MLS data to help buyers understand where their budget gives them the greatest opportunity — and to help sellers understand how their property actually fits into today's market.

If you're comparing homes in Sedona proper and the Village of Oak Creek, I am always happy to help you look at the numbers for the specific neighborhoods, properties and price range you're considering.

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. ZIP code 86351 is used as the geographic dataset for the Village of Oak Creek area. Market statistics are a snapshot and will change as properties are listed, sold, cancelled or expire.