The Red Rock Loop real estate market has seen home sales slow down as there has been only one home sale for each of the past two months.
Red Rock Loop saw a 10.5 percent drop in the number of homes sold for 2022 when compared to 2021.
The average home sales price has seen a decrease of 37.2 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 104 days.
Here is an infographic with the breakdown of how the Red Rock Loop Real Estate Market did during 2022.
Red Rock Loop 2022 Home Sales
For 2022, home sales in Red Rock Loop has seen 17 home sales which is down 10.5 percent when compared to the homes sales of 2021.
Homes under $500,000 have made up 0 percent of sales, with homes priced between $500,000 and $999,999 accounting for 35.3 percent of sales. Homes priced over $1,000,000 have come in at 64.7 percent.
Red Rock Loop 2022 Home Sale Prices
2022 has seen the average home sale price drop to $1,565,460 in Red Rock Loop which was a decrease of 37.2 percent when compared to 2021.
Meanwhile, the median home sale price, $1,300,000, decreased 31.6 percent during the same time period.
Red Rock Loop 2022 Days on Market and Absorption Rate
The inventory of available homes for sale in Red Rock Loop is a little less than neutral as 2022 is at 4.7 months. The number of new listings (23) for the year is one less than there were in 2021.
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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