Despite a decrease in the number of homes that came on the market, the Red Rock Loop real estate market saw an increase in home sales and home sale prices exploded by over 100 percent.
Red Rock Loop has seen an increase of 6.9 percent in the number of homes sold for 2021 when compared to 2020.
The average home sales price has seen an increase of 101 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 is 40 less at 223 days.
Here is an infographic with the breakdown of how the Red Rock Loop Real Estate Market did during 2021.
Red Rock Loop 2021 Home Sales
For 2021, home sales in Red Rock Loop has seen 31 sales which is an increase of 6.9 percent when compared to the homes sales of 2020.
Homes under $500,000 have made up 3.2 percent of sales, with homes priced between $500,000 and $999,999 accounting for 25.8 percent of sales. Homes priced over $1,000,000 have come in at 71.0 percent.
Red Rock Loop 2021 Home Sale Prices
2021 saw the average home sale price jump to $2,111,836 in Red Rock Loop which was a increase of 101 percent when compared to 2020.
Meanwhile, the median home sale price, $1,517,535, increased 87.4 percent during the same time period.
Red Rock Loop 2021 Days on Market and Absorption Rate
The inventory of available homes for sale in Red Rock Loop is a less than neutral as 2021 is at 3.9 months. The number of new listings (30) for the year is 8 less than there were in 2020.
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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