The Chapel Area real estate market for the second month in a row, saw an increase in Home sales, home sale prices, and the number of homes coming on the market compared to last year.
The Chapel Area has seen a 76.9 percent increase in the number of homes sold for 2021 when compared to 2020.
The average home sales price saw an increase of 49.3 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 84 day decrease to 60 days.
Here is an infographic with the breakdown of how the Chapel Area Real Estate Market has done during 2021.
Chapel Area 2021 Home Sales
For 2021, home sales in the Chapel Area has seen 23 sales which is an increase of 76.9 percent when compared to the homes sales of 2020.
Homes under $500,000 have made up 4.3 percent of sales, with homes priced between $500,000 and $999,999 accounting for 60.9 percent of sales. Homes priced over $1,000,000 came in at 34.8 percent.
Chapel Area 2021 Home Sale Prices
2021 has seen the average home sale price reach, $1,198,065, in the Chapel Area which is an increase of 49.3 percent when compared to 2020.
Meanwhile, the median home sale price, $913,000, increased 17.8 percent during the same time period.
Chapel Area 2021 Days on Market and Absorption Rate
The inventory of available homes for sale in the Chapel Area is extremely low as 2021 is currently at 1.6 months. The number of new listings (27) for the year is the same as there were in 2020.
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.
What do you think?
Is there any other information you would like?
Interested in the Sedona real estate market?
Wondering how changes in the market has affected the value of your home?
You can get a free valuation of your home with absolutely no obligation.
Please fill out the easy to use form to get your instant home value report.
Please note your information will be kept strictly confidential and will only be used to help me provide you with a better real estate experience.