Village of Oak Creek 2023 Real Estate Housing Market Statistics and Numbers

The Village of Oak Creek real estate market saw a decrease in both home sales and the number of homes that came on the market.

This has contributed to starting off 2024 with inventory levels showing the Village as a Seller’s market.

If you’re looking to make your move to the Village this year, navigate the market wisely by searching the areas you’re interested in and being able to move quickly once the opportunity presents itself.

The competition may be increasing as the year progresses, so it may be beneficial to be ready at the beginning of the year.

If you’re looking at selling your home this year, you’ll want to price your home strategically while highlighting the unique features that make your home stand out.

With the low inventory, you’ll want to take advantage of the sense of urgency among those eager to find their ideal home.

The Village of Oak Creek has seen a decrease of 6.7 percent in the number of homes sold for 2023 when compared to 2022.

The average home sales price has seen a decrease of 5.4 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 36 day increase to 105 days.

Here is an infographic with the breakdown of how the Village of Oak Creek Real Estate Market has done during 2023.

Village of Oak Creek 2023 Home Sales

For 2023, home sales in the Village of Oak Creek has seen 195 sales which is a 6.7 percent decrease when compared to the homes sales of 2022.

Homes under $500,000 have made up 16.4 percent of sales, with homes priced between $500,000 and $999,999 accounting for 61.0 percent of sales. Homes priced over $1,000,000 have come in at 22.6 percent.

Village of Oak Creek 2023 Home Sale Prices

The average home sale price in 2023 reached $847,002, in the Village of Oak Creek which was a decrease of 5.4 percent when compared to 2022.

Meanwhile, the median home sale price, $775,000, has seen an increase of 3.5 percent during the same time period.

Village of Oak Creek 2023 Days on Market and Absorption Rate

The inventory of available homes for sale in Village of Oak Creek is much lower than neutral as 2023 is currently at 3.7 months. The number of new listings (‭263) for the year is 21 less 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.