While there have been fewer homes sold in The Village of Oak Creek real estate market so far this year than in previous years, the past two months has seen similar home sales as were seen during the same time in 2022.
The recent increase in home sales and home sale prices indicate that the market has stabilized and not experiencing a decline.
For those of you interested in buying a home in the Village of Oak Creek, it’s important to note that there are fewer options available on the market at this time.
If you’re looking to buy a home in this area, you may want to act quickly when you find a home that meets your needs, as homes priced correctly are going under contract in a short period of time.
On the other hand, if you’re interested in selling your home in the Village of Oak Creek, it’s important to note that the average sales price of homes has increased over last year.
It’s also important to note that homes are spending slightly longer on the market than they did in previous years. If you’re planning to sell your home, you may want to be prepared for the possibility that it could take longer to find the right buyer.
The Village of Oak Creek has seen a decrease of 28.8 percent in the number of homes sold for 2023 when compared to 2022.
The average home sales price has seen an increase of 3.2 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 has experienced a 38 day increase to 113 days.
Here is an infographic with the breakdown of how the Village of Oak Creek Real Estate Market has done during 2023.
Village of Oak Creek 2023 Home Sales
For 2023, home sales in the Village of Oak Creek has seen 57 sales which is a 28.8 percent decrease when compared to the homes sales of 2022.
Homes under $500,000 have made up 14.0 percent of sales, with homes priced between $500,000 and $999,999 accounting for 57.9 percent of sales. Homes priced over $1,000,000 have come in at 28.1 percent.
Village of Oak Creek 2023 Home Sale Prices
The average home sale price in 2023 reached $954,080, in the Village of Oak Creek which was an increase of 3.2 percent when compared to 2022.
Meanwhile, the median home sale price, $825,000, has seen an increase of 5.8 percent during the same time period.
Village of Oak Creek 2023 Days on Market and Absorption Rate
The inventory of available homes for sale in Village of Oak Creek is a little lower than neutral as 2023 is currently at 5.1 months. The number of new listings (82) for the year is 7 less than there were in 2022.
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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