The Chapel Area real estate market saw home sales drop more than 70 percent than there were last year while home sale prices saw an increase.
The Chapel Area has seen a 82.1 percent increase in the number of homes sold for 2021 when compared to 2020.
The average home sales price saw an increase of 46.7 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 96 day decrease to 59 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 51 sales which is an increase of 82.1 percent when compared to the homes sales of 2020.
Homes under $500,000 have made up 3.9 percent of sales, with homes priced between $500,000 and $999,999 accounting for 58.8 percent of sales. Homes priced over $1,000,000 came in at 37.3 percent.
Chapel Area 2021 Home Sale Prices
2021 has seen the average home sale price reach, $1,181,665, in the Chapel Area which is an increase of 46.7 percent when compared to 2020.
Meanwhile, the median home sale price, $955,000, increased 37.6 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 1.7 months. The number of new listings (57) for the year is 12 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
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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