The average home sale increased to $1,092,827. (That's up a whopping 25% since the same time last year). This says that an average home increased by $219K in the previous 12 months.
Homes are selling in approximately 12 days. This means that from the time a home is listed on MLS, it takes approx. 12 days to receive and accept an offer. Closing typically takes 30-90 days.?
The total number of homes for sale is down -11.9%. This means that the total number of homes available to purchase is down, leaving buyers with few options to choose from.?
With sales up and the number of homes for sale are down significantly, resulting in intense competition. With no end in sight, 2022 looks to be much of the same. The experts predict that prices will continue to climb and lack homes for sale. As a result, the market will continue to favour sellers.
What does this mean for you specifically? Email me and let's chat.