While home sales for the Chapel Area real estate market saw a decrease in November due to the limited inventory, home sale prices saw an increase.
The Chapel Area has seen a 27.3 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 37 day increase to 143 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 56 sales which is an increase of 27.3 percent when compared to the homes sales of 2019.
Homes under $500,000 have made up 5.3 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 28.6 percent.
Chapel Area 2020 Home Sale Prices
2020 has seen the average home sale price reach, $901,862, in the Chapel Area which is an increase of 27.2 percent when compared to 2019.
Meanwhile, the median home sale price, $749,000, increase 21.9 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 1.6 months. The number of new listings (61) for the year is the same as 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
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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