THE YEAR OF BREAKING RECORDS
2021’s Housing Market Was Anything But Typical.
2021 will likely go down as being the year with the most record-breaking stats. Record low home supply, rates and market times. Along with record high multiple offers, showings, and offers over the asking price.
For example:
- 63% of our listings had multiple offers this year.
- Each of our listings with multiple offers had at least 14 showings within 48 hours.
- Some of these listings had 50 showings within 48 hours.
LOOKING AHEAD
Will 2022 Be Any Different?
Headlines from around the country and locally suggest there could be another housing bubble ahead similar to what we experienced prior to 2008. However, the factors leading up to today’s price run up are significantly different compared to 2008. The catch will be for “would be sellers” to put their homes on the market and feel confident they have options to move to. This conundrum was a big contributor in creating an unbalance in the market in 2021.
More inventory may take a bit of the edge off today’s competitive market, however, it’s important to remember that it doesn’t mean prices will fall or homes will become more affordable. There will just be more available to choose from.
Moving into 2022 we believe the market will remain robust.
BUT – if we’ve learned anything in the past couple of years…we can try to project the future, we can’t predict it!
Whether you are thinking of buying or selling, our team continues to stay on top of the market and can help create a successful strategy. Have questions? EMAIL US.
