Despite February being a short month, there were 21 homes sold in 2022. Compared to 2021's 34 sold homes, its obvious the lack of inventory with a drop of 38.2% from last year. Homes that sold over list price were 55.8% of closed transactions. Multi-offers are still strong and buyers have to be ready to put their best offers in.
There was a slight increase of days on market of 2.3% to 45 days from last year's 44 days on the market. Sellers will be happy to know that prices appreciated *14% to $385,548 from 2021's $338,125.
Currently there are only 30 available single family detached homes with 67 listings under contract. These homes should close within the next 30-45 days unless they are new construction homes which can take anywhere from 3 to 6 months to be built.
Still a seller's market but only if the seller has a plan in place on where they will live once their home sells. Downsizing? Moving out of state? Retiring? Renting? Moving in with family members? Whatever your situation, have a plan before you put your home on the market. Then call your favorite realtor...me, me, me!
*Updated 3/22/22 with official MRED numbers published 3/4/22.
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