2017 saw a slow year for the Oak Creek Canyon real estate market as both home sales and home sale prices failed to meet the same numbers as last year.
Oak Creek Canyon experienced a decrease of 22.2 percent in the number of homes sold for 2017 when compared to 2016.
The average home sales price saw a large drop with a decrease of 12.1 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 52 day increase to 224 days.
Here is an infographic with the breakdown of how the Oak Creek Canyon Real Estate Market did during 2017.
Oak Creek Canyon 2017 Home Sales
For 2017, home sales in Oak Creek Canyon has seen 7 sales which is a 22.2 percent decrease when compared to the homes sales of 2016.
Homes under $500,000 have made up 28.6 percent of sales, with homes priced between $500,000 and $999,999 accounting for 71.4 percent of sales. Homes priced over $1,000,000 have come in at 0 percent.
Oak Creek Canyon 2017 Home Sale Prices
2017 saw the average home sale price reach $542,500 in Oak Creek Canyon which was a decrease of 12.1 percent when compared to 2016.
Meanwhile, the median home sale price, $545,000, also down 6.4 percent during the same time period.
Oak Creek Canyon 2017 Days on Market and Absorption Rate
The inventory of available homes for sale in Oak Creek Canyon remains low in 2017 finished at 10.3 months. The number of new listings (9) by the end of year is 5 less than there were in 2016.
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.
Oak Creek Canyon Current Listings
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