Home sales for the Oak Creek Canyon real estate market remains strong along with the average home sale price experiencing an increase of over $100,000.
Oak Creek Canyon experienced an increase of 66.7 percent in the number of homes sold for 2018 when compared to 2017.
The average home sales price saw a large improvement with an increase of 19.5 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 61 day decrease to 189 days.
Here is an infographic with the breakdown of how the Oak Creek Canyon Real Estate Market did during 2018.
Oak Creek Canyon 2018 Home Sales
For 2018, home sales in Oak Creek Canyon has seen 10 sales which is an increase of 66.7 percent when compared to the homes sales of 2017.
Homes under $500,000 have made up 40 percent of sales, with homes priced between $500,000 and $999,999 accounting for 50 percent of sales. Homes priced over $1,000,000 have come in at 10 percent.
Oak Creek Canyon 2018 Home Sale Prices
2018 saw the average home sale price reach $645,400 in Oak Creek Canyon which was an increase of 19.5 percent when compared to 2017.
Meanwhile, the median home sale price, $520,000, down 1.0 percent during the same time period.
Oak Creek Canyon 2018 Days on Market and Absorption Rate
The inventory of available homes for sale in Oak Creek Canyon in 2018 are at 6.4 months. The number of new listings (14) for the year is double than there were in 2017.
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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