Monthly summaries of our local real estate market help find trends and key metrics that assist us in understanding where the market is currently and what direction it seems to be heading in the future. The Wells Group looks at January 2022 and three years prior to see the changes and consistencies.
There were 66 sales in January 2022 which was 10 less that 2021. Historically, the first month of the year does not bring in the highest monthly number of sales. Also, having a significantly decreased inventory means that there aren’t as many homes to sell, which naturally affects the sales numbers. Out of the 66 sold, 21 fell in the $300,001-$500,000 bracket, another 10 were in the $600,001-$700,000 range.
As of January 31st, 2022 there were 12 active listings in the $500,001-$600,000 price category. However, one fifth of the active listings cost $2,000,001 or more. While there are just 98 active listings, we have 151 under contract which looks positive for the coming months’ sales. The majority of those pending are in the $300,001-$800,000 sales price range.
We will continue to track these numbers as the year progresses. Please don’t hesitate to reach out with any questions and stay tuned as we follow our local real estate market!