The Chapel Area real estate market finished up 2020 with both home sales and home sale prices increasing over 28 percent.
The Chapel Area has seen a 28.1 percent increase in the number of homes sold for 2020 when compared to 2019.
The average home sales price saw an increase of 27.2 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 33 day increase to 138 days.
Here is an infographic with the breakdown of how the Chapel Area Real Estate Market has done during 2020.
Chapel Area 2020 Home Sales
For 2020, home sales in the Chapel Area has seen 62 sales which is an increase of 31.9 percent when compared to the homes sales of 2019.
Homes under $500,000 have made up 4.9 percent of sales, with homes priced between $500,000 and $999,999 accounting for 66.1 percent of sales. Homes priced over $1,000,000 came in at 29.0 percent.
Chapel Area 2020 Home Sale Prices
2020 has seen the average home sale price reach, $911,888, in the Chapel Area which is an increase of 28.1 percent when compared to 2019.
Meanwhile, the median home sale price, $740,000, increase 18.4 percent during the same time period.
Chapel Area 2020 Days on Market and Absorption Rate
The inventory of available homes for sale in the Chapel Area is extremely low as 2020 is currently at 1.4 months. The number of new listings (66) for the year is 1 more than there were in 2019.
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
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