The Village of Oak Creek real estate market has seen strong numbers for both home sales and home sale prices while inventory has dropped to less than 3.5 months.
The Village of Oak Creek has seen an increase of 13.1 percent in the number of homes sold for 2018 when compared to 2017.
The average home sales price has seen an increase of 7.1 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 73 day decrease to 118 days.
Here is an infographic with the breakdown of how the Village of Oak Creek Real Estate Market has done during 2018.
Village of Oak Creek 2018 Home Sales
For 2018 , home sales in the Village of Oak Creek has seen 155 sales which is an 13.1 percent increase when compared to the number of homes sales in 2017.
Homes under $500,000 have made up 61.3 percent of sales, with homes priced between $500,000 and $999,999 accounting for 37.4 percent of sales. Homes priced over $1,000,000 have come in at 1.3 percent.
Village of Oak Creek 2018 Home Sale Prices
The average home sale price in 2018 reached $477,838 in the Village of Oak Creek which was an increase of 7.1 percent when compared to 2017.
Meanwhile, the median home sale price, $447,500, has seen an increase of 13.3 percent during the same time period.
Village of Oak Creek 2018 Days on Market and Absorption Rate
The inventory of available homes for sale in Village of Oak Creek remains low as 2018 is currently at 3.5 months. The number of new listings (181) for the year is 11 more than there were in 2017.
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.
Village of Oak Creek Current Listings
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