As we enter 2022 and reflect on 2021, this past year has likely presented both entryways and roadblocks for our opportunities and goals. Thankfully, a new year brings a fresh focus.
 
With 2021 unlike any other, we're here to bring some clarity when it comes to the 2022 housing market. The information we’ve included this month will provide valuable insights into the real estate market and highlights a few predictions to keep an eye on as the year progresses. We’ve  also included a helpful guideline to use when choosing the right neighborhood if you or someone you know is considering a move.
 
We hope this information provides you with an insightful snapshot on the market, so you can enter the new year with confidence. Please do not hesitate to call us with any questions about this year’s housing outlook! We are happy to provide details on how our area’s market is looking this year.

We are seeing a bit of a leveling off. We are not seeing as many multiple offers or prices shooting up above the list price, although we are still seeing some. We are still in a "lack of supply" driven market with inventory only at 1.1 months.
 
September 2021 vs. August 2021
New Listings:      3,760 vs. 3,698, increase of 1.7%
Pending Sales:   3,170 vs. 3,535, decrease of 10.3%
Closed Sales:      3,167 vs. 3,219, decrease of 1.6%
 
The decrease in pending sales is somewhat seasonal with the slowdown going into the holidays/winter.

With interest rates still very good, in the 3% range, buying power is strengthened because there is less competition forcing buyers to have to offer well over asking price.

It certainly is a case-by-case basis on whether homes are selling at, above or even below list price, but we are starting to see things normalize. We’re not likely to see a true drop-off as buyers who have been discouraged and frustrated by the heavy competition of the market will start to get back in the market looking for homes.

It really is a fabulous time to be buying or selling!

If there is anything that we can do, please don’t hesitate to give us a call. We’re never too busy to help you or anyone you know. And we really appreciate all your business!