Both home sales and home sale prices for The Village of Oak Creek real estate market saw increases while the inventory of available homes for sale is extremely low.
The Village of Oak Creek has seen an increase of 2.5 percent in the number of homes sold for 2020 when compared to 2019.
The average home sales price has seen an increase of 15.9 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 27 day increase to 130 days.
Here is an infographic with the breakdown of how the Village of Oak Creek Real Estate Market has done during 2020.
Village of Oak Creek 2020 Home Sales
For 2020, home sales in the Village of Oak Creek has seen 282 sales which is a 2.5 percent increase when compared to the homes sales of 2019.
Homes under $500,000 have made up 47.5 percent of sales, with homes priced between $500,000 and $999,999 accounting for 47.9 percent of sales. Homes priced over $1,000,000 have come in at 4.6 percent.
Village of Oak Creek 2020 Home Sale Prices
The average home sale price in 2020 reached $567,606 in the Village of Oak Creek which was an increase of 15.9 percent when compared to 2019.
Meanwhile, the median home sale price, $510,000, has seen an increase of 9.7 percent during the same time period.
Village of Oak Creek 2020 Days on Market and Absorption Rate
The inventory of available homes for sale in Village of Oak Creek is extremely low as 2020 is currently at 1.3 months. The number of new listings (268) for the year is 90 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.
Village of Oak Creek Current Listings
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