Home sales and home sale prices for the Red Rock Loop real estate market have seen increases to start off 2018.
Red Rock Loop has seen an increase of 1 home in the number of homes sold for 2018 when compared to 2017.
The average home sales price remains strong with an increase of 16.1 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 24 day decrease to 102 days.
Here is an infographic with the breakdown of how the Red Rock Loop Real Estate Market did during 2018.
Red Rock Loop 2018 Home Sales
For 2018, home sales in Red Rock Loop has seen 3 sales which is a 50 percent increase when compared to the homes sales of 2017.
Homes under $500,000 have made up 33.3 percent of sales, with homes priced between $500,000 and $999,999 accounting for 33.3 percent of sales. Homes priced over $1,000,000 have come in at 33.3 percent.
Red Rock Loop 2018 Home Sale Prices
2018 saw the average home sale price reach $923,333 in Red Rock Loop which was an increase of 16.1 percent when compared to 2017.
Meanwhile, the median home sale price, $610,000, decreased 7.5 percent during the same time period.
Red Rock Loop 2018 Days on Market and Absorption Rate
The inventory of available homes for sale in Red Rock Loop remains high as 2018 started at 12.7 months. The number of new listings (4) for the year is 1 more 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.
Red Rock Loop 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.