The month of November for the Red Rock Loop real estate market saw a huge improvement in home sale prices.
Red Rock Loop has seen an increase of 35.0 percent in the number of homes sold for 2020 when compared to 2019.
The average home sales price has seen a decrease of 1.3 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 58 day increase to 236 days.
Here is an infographic with the breakdown of how the Red Rock Loop Real Estate Market did during 2020.
Red Rock Loop 2020 Home Sales
For 2020, home sales in Red Rock Loop has seen 27 sales which is an increase of 35.0 percent when compared to the homes sales of 2019.
Homes under $500,000 have made up 22.2 percent of sales, with homes priced between $500,000 and $999,999 accounting for 37.0 percent of sales. Homes priced over $1,000,000 have come in at 40.8 percent.
Red Rock Loop 2020 Home Sale Prices
2020 saw the average home sale price drop to $1,014,866 in Red Rock Loop which was a decrease of 1.3 percent when compared to 2019.
Meanwhile, the median home sale price, $780,000, increased 15.6 percent during the same time period.
Red Rock Loop 2020 Days on Market and Absorption Rate
The inventory of available homes for sale in Red Rock Loop remains neutral as 2020 remains at 5.7 months. The number of new listings (31) for the year is 1 less than there were in 2019.
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.
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