The inventory levels for the Red Rock Loop real estate market remain very high at over 15 months along with decreases in both home sales and home sale prices.
Red Rock Loop has seen a decrease of 1 home in the number of homes sold for 2019 when compared to 2018.
The average home sales price has seen a decrease of 11.7 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 54 day decrease to 109 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 4 sales which is a 20.0 percent decrease when compared to the homes sales of 2018.
Homes under $500,000 have made up 50.0 percent of sales, with homes priced between $500,000 and $999,999 accounting for 50.0 percent of sales. Homes priced over $1,000,000 have come in at 0 percent.
Red Rock Loop 2019 Home Sale Prices
2019 saw the average home sale price reach $646,000 in Red Rock Loop which was a decrease of 11.7 percent when compared to 2018.
Meanwhile, the median home sale price, $495,000, decreased 18.9 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 15.8 months. The number of new listings (10) for the year is 6 more 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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