Red Rock Loop 2023 Real Estate Housing Market Statistics and Numbers

The Red Rock Loop real estate market finished the year with a slight decrease in home sales while prices saw a huge gain.

Red Rock Loop saw a 42.9 percent drop in the number of homes sold for 2023 when compared to 2022.

The average home sales price has seen a decrease of 11.7 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 212 day increase to 348 days.

Here is an infographic with the breakdown of how the Red Rock Loop Real Estate Market did during 2023.

Red Rock Loop 2023 Home Sales

For 2023, home sales in Red Rock Loop has seen 20 home sale which is down 9.1 percent when compared to the homes sales of 2022.

Homes under $500,000 have made up 0 percent of sales, with homes priced between $500,000 and $999,999 accounting for 20 percent of sales. Homes priced over $1,000,000 have come in at 80 percent.

Red Rock Loop 2023 Home Sale Prices

2023 has seen the average home sale price jump to $2,732,982 in Red Rock Loop which was an increase of 63.8 percent when compared to 2022.

Meanwhile, the median home sale price, $1,979,173, increased 45.4 percent during the same time period.

Red Rock Loop 2023 Days on Market and Absorption Rate

The inventory of available homes for sale in Red Rock Loop is slightly above neutral as 2023 is at 6.6 months. The number of new listings (‭31) for the year is three more than there were in 2022.

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.