2022 Real Estate Predictions and Recap of 2021. Be prepared for 2022 and how best to navigate the real estate market. Top 3 Real Estate Market Trends 1) Mortgage rates are going up this year. 2) More Buyers (higher prices). 3) Inventories Remains Low (low competition).
December 2021 is a Seller's market!
The number of for sale listings was down 20.5% from one year earlier and down 26.3% from the previous month. The number of sold listings decreased 10.6% year over year and decreased 13.2% month over month. The number of under contract listings was down 25.7% compared toprevious month and down 0.5% compared to previous year. The Months of Inventory based on Closed Sales is 0.4, down 21.1% from the previous year. The Average Sold Price per Square Footage was up 0.8% compared to previous month and up 19.8% compared to last year. The Median Sold Price increased by 0.8% from last month. The Average Sold Price also increased by 1.7% from last month. Based on the 6 month trend, the Average Sold Price trend is "Neutral" and the Median Sold Price trend is "Neutral". The Average Days on Market showed a upward trend, a decrease of 19.2% compared to previous year. The ratio of Sold Price vs. Original List Price is 102%, an increase of 2% compared to previous year.
EVENTS AND HIGHLIGHTS OF JANUARY
Large portion of the commission we receive is donated to the Seattle Children's Hospital - STRONG program.
If you have any questions or comments you would like answered in next month's newsletter, email me at [email protected] and they will be included in the market update.
OR if you would like more information on our unique systems and programs, call us at 425-236-6777 or visit our website www.GeorgeMoorhead.com
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GEORGE MOORHEAD - Bentley Properties
[email protected]
Direct: 425-236-6777
14205 SE 36th St., Suite 100, Bellevue WA 98006
www.GeorgeMoorhead.com