Both home sales and home sale prices for the Red Rock Loop real estate market saw substantial gains during 2019 over the previous year.
Red Rock Loop has seen an increase of 31.3 percent in the number of homes sold for 2019 when compared to 2018.
The average home sales price has seen an increase of 53.0 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 104 day decrease to 185 days.
Here is an infographic with the breakdown of how the Red Rock Loop Real Estate Market did during 2019.
Red Rock Loop 2019 Home Sales
For 2019, home sales in Red Rock Loop has seen 21 sales which is a 31.3 percent increase when compared to the homes sales of 2018.
Homes under $500,000 have made up 28.6 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 38.1 percent.
Red Rock Loop 2019 Home Sale Prices
2019 saw the average home sale price reach $1,004,834 in Red Rock Loop which was an increase of 53.0 percent when compared to 2018.
Meanwhile, the median home sale price, $675,000, increased 28.6 percent during the same time period.
Red Rock Loop 2019 Days on Market and Absorption Rate
The inventory of available homes for sale in Red Rock Loop remains high as 2019 remains at 10.3 months. The number of new listings (32) for the year is 1 less than there were in 2018.
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
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