Chapel Area 2022 Real Estate Housing Market Statistics and Numbers

The Chapel Area real estate market saw home sale numbers similar to 2019 while home sale prices finished out 2022 with prices over 116 percent higher than seen in that year.

The Chapel Area has seen a 37.8 percent decrease in the number of homes sold for 2022 when compared to 2021.

The average home sales price saw an increase of 34.2 percent during the same time period.

The Sedona Verde Valley Board of REALTORS® (SVVAR) reported that the number of days that homes that sold were on the market for the year has experienced a 30 day increase to 87 days.

Here is an infographic with the breakdown of how the Chapel Area Real Estate Market has done during 2022.

Chapel Area 2022 Home Sales

For 2022, home sales in the Chapel Area has seen 46 sales which is a decrease of 37.8 percent when compared to the homes sales of 2021.

Homes under $500,000 have made up 0.0 percent of sales, with homes priced between $500,000 and $999,999 accounting for 19.6 percent of sales. Homes priced over $1,000,000 came in at 80.4 percent.

Chapel Area 2022 Home Sale Prices

2022 has seen the average home sale price reach, $1,540,093, in the Chapel Area which is an increase of 34.2 percent when compared to 2021.

Meanwhile, the median home sale price, $1,395,000, increased 46.1 percent during the same time period.

Chapel Area 2022 Days on Market and Absorption Rate

The inventory of available homes for sale in the Chapel Area is low as 2022 is currently at 3.1 months. The number of new listings (‭57) for the year is 24 less than there were in 2021.

A neutral market is 6 months of inventory with numbers above 6 months indicating a buyer’s market (more supply of homes than the demand) and numbers below 6 months, a seller’s market (more homes in demand than homes available on the market).

For more information on how these numbers are affecting you or for a specific neighborhood, contact me for free information.