The Chapel Area real estate market continues to experience decreases in home sales and home sale prices for the year.
The Chapel Area has seen a 21.1 percent decrease in the number of homes sold for 2019 when compared to 2018.
The average home sales price saw a decrease of 12.9 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 12 day decrease to 118 days.
Here is an infographic with the breakdown of how the Chapel Area Real Estate Market has done during 2019.
Chapel Area 2019 Home Sales
For 2019, home sales in the Chapel Area has seen 30 sales which is a decrease of 21.1 percent when compared to the homes sales of 2018.
Homes under $500,000 have made up 20 percent of sales, with homes priced between $500,000 and $999,999 accounting for 66.7 percent of sales. Homes priced over $1,000,000 came in at 13.3 percent.
Chapel Area 2019 Home Sale Prices
2019 has seen the average home sale price reach, $736,716, in the Chapel Area which is a decrease of 12.9 percent when compared to 2018.
Meanwhile, the median home sale price, $627,000, decreased 12.8 percent during the same time period.
Chapel Area 2019 Days on Market and Absorption Rate
The inventory of available homes for sale in the Chapel Area remains high as 2019 is currently at 5.9 months. The number of new listings (46) for the year is 4 less than there were in 2018.
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.
Chapel Area Current Listings
Internet Data Exchange (IDX) listings provided by Sedona Verde Valley Association of REALTORS® (SVVAR) MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data is deemed reliable but is not guaranteed accurate.
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