Here’s what our December 2021 numbers mean for our real estate market.

Today I’m sharing the numbers from our December 2021 real estate market and what that means for us right now.

Home sales varied from suburb to suburb in our area; some areas were up 6%, while others were down 12% compared to December 2020. That may lead you to think there’s something wrong with the market, but that’s not the case. What drove the decrease in sales was the severe lack of inventory. In much of our area, especially in December, there just weren’t enough homes for sale. Also, those numbers are compared to our very strong 2020 stats, so they look worse than they are. 

 

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Home prices continued their upward trajectory; they rose 13% to 18% compared to December 2020 (depending on the area). That’s massive growth for our area; in more typical times, we’d see about 3% to 4% appreciation in price. The list-to-sale price ratio gives us a barometer of how strong the market truly is. We’re currently seeing homes sell anywhere from 99.5% to 101% of list price, which means homes are often selling for over list price. 

We’re seeing an extremely strong market. If you’re considering selling, my advice as a real estate professional is to do so sooner rather than later. Don’t wait until escalating interest rates cool down the market. 

If you have questions or we can help you in any way, please reach out via phone or our website. We would love to speak with you.

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