Both home sales and home sale prices within the Red Rock Loop real estate market in 2017 saw gains around 50 percent when compared to last year.
Red Rock Loop saw an increase of 50.0 percent in the number of homes sold for 2017 when compared to those seen in 2016.
The average home sales price remained strong with an increase of 48.3 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 162 day increase to 298 days.
Here is an infographic with the breakdown of how the Red Rock Loop Real Estate Market did during 2017.
Red Rock Loop 2017 Home Sales
For 2017, home sales in Red Rock Loop has seen 21 sales which is a 50.0 percent increase when compared to the homes sales of 2016.
Homes under $500,000 have made up 33.3 percent of sales, with homes priced between $500,000 and $999,999 accounting for 52.4 percent of sales. Homes priced over $1,000,000 have come in at 14.3 percent.
Red Rock Loop 2017 Home Sale Prices
2017 saw the average home sale price reach $829,394 in Red Rock Loop which was an increase of 48.3 percent when compared to 2016.
Meanwhile, the median home sale price, $595,000, also increased 38.4 percent during the same time period.
Red Rock Loop 2017 Days on Market and Absorption Rate
The inventory of available homes for sale in Red Rock Loop remains steady as 2017 finished at 10.0 months. The number of new listings (26) for the year is 2 less than there were in 2016.
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.
Red Rock Loop Current Listings
What do you think?
Is there any other information you would like? Interested in the Sedona real estate market? What are your thoughts on how the real estate market is doing in Red Rock Loop? Please let me know what they are in the comments.
