Since I reported on the auction of the Little Daisy Estate in Jerome, I wanted to share the news that the new owners, a couple from Flagstaff have now taken ownership. It sold at auction for $1.9 million. The winning bid came in just minutes before closing, topping the previous bid of $1.8 million. It's a remarkable place and I had such a great time seeing it at the open house soiree.
This sale and a recent visit to the San Diego area has given me some thought about the real estate market. While La Jolla and Del Mar have a median home value around $1.5 million, the sale of a historic estate like the Little Daisy in Jerome seems like a great bargain. With short supply and high demand, the Arizona real estate market is buoyed by buyers from California and elsewhere. While some are pessimistic about the state of our economy, there still appears to be much appetite for real estate. What do you think this means for future home values in Arizona and Sedona? I'd love to hear your thoughts.
