The Village of Oak Creek real estate market saw for the second time this year a decrease of over 40 percent in the number of home sales when compared to the same month last year.
The Village of Oak Creek has seen a decrease of 18.5 percent in the number of homes sold for 2022 when compared to 2021.
The average home sales price has seen an increase of 21.6 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 17 day decrease to 68 days.
Here is an infographic with the breakdown of how the Village of Oak Creek Real Estate Market has done during 2022.
Village of Oak Creek 2022 Home Sales
For 2022, home sales in the Village of Oak Creek has seen 119 sales which is a 18.5 percent decrease when compared to the homes sales of 2021.
Homes under $500,000 have made up 10.9 percent of sales, with homes priced between $500,000 and $999,999 accounting for 60.5 percent of sales. Homes priced over $1,000,000 have come in at 28.6 percent.
Village of Oak Creek 2022 Home Sale Prices
The average home sale price in 2022 reached $944,733, in the Village of Oak Creek which was an increase of 21.6 percent when compared to 2021.
Meanwhile, the median home sale price, $755,000, has seen an increase of 17.8 percent during the same time period.
Village of Oak Creek 2022 Days on Market and Absorption Rate
The inventory of available homes for sale in Village of Oak Creek is low as 2022 is currently at 3.2 months. The number of new listings (155) for the year is 20 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.
Village of Oak Creek Current Listings
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