If you’re interested in making a commercial or residential real estate investment here in Arizona, there are plenty of great opportunities waiting for you in Sedona. Early in 2020, the real estate market in Sedona was very strong, with numbers even exceeding last year’s record-breaking sales.
And while no real estate market in the United States has been untouched by the coronavirus pandemic, the reality is that real estate sales continued (although at a slightly slower pace) well throughout March and April. By May, the number of pending homes in the Sedona market is up 20%, with single-family homes and luxury homes being among the hottest markets. This trend is only expected to continue, especially as more people begin looking to move and buy homes throughout the summer months.
It’s also worth noting here that Sedona is a relatively small town and is located in a suburban area with excellent access to medical services and hospitals. This, combined with the area’s relatively low rates of COVID-19 cases, means that the Sedona real estate market should continue to thrive despite its regression earlier this year.
While both residential and commercial real estate investment opportunities are ample in Sedona, one specific type of investment that you won’t want to overlook is that of the vacation home market. As more and more tourists are beginning to discover all that Sedona and the surrounding area has to offer, there is a growing demand for vacation rentals and not enough supply. As a result, many smart investors are beginning to buy up property to develop into vacation home rentals for tourists.
No matter what type of Sedona real estate investment you’re looking to make, there are plenty of opportunities available to you. Of course, to get started, you’ll need to secure the capital you need to purchase your investment property or land.