Home sales prices for the Chapel Area real estate market remain steady while the area has seen a decrease in home sales while the number of homes coming on the market have increased.
The Chapel Area has seen a 19.6 percent increase in the number of homes sold for 2021 when compared to 2020.
The average home sales price saw an increase of 30.9 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 95 day decrease to 57 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 61 sales which is an increase of 19.6 percent when compared to the homes sales of 2020.
Homes under $500,000 have made up 3.3 percent of sales, with homes priced between $500,000 and $999,999 accounting for 55.7 percent of sales. Homes priced over $1,000,000 came in at 41.0 percent.
Chapel Area 2021 Home Sale Prices
2021 has seen the average home sale price reach, $1,171,990, in the Chapel Area which is an increase of 30.9 percent when compared to 2020.
Meanwhile, the median home sale price, $895,008, increased 28.2 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 very low as 2021 is currently at 2.3 months. The number of new listings (75) for the year is 23 more than 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
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