Market Notes February 2022

Published By: Editor
Published On: 23rd February 2022
Categories: Real Estate News

The preliminary real estate market reports for January 2022 have come in, and the units sold year-over-year were down 8.37% compared to January 2021. Is the market about to crash?  No way. There are just so few properties to buy.

Note the graph from Austin Title below—my favorite snapshot of the market. [Look for the red dot in the “January” column for January 2022.]  You can see the volatility of the last two years compared to the two years prior to 2020.  The years 2019 and 2018 reflect a more usual market curve.   The number of sales in January of 2022 is below the number in January 2021, but above the number in 2020, and well above the numbers in 2018 and 2019.

Looking at the additional data, the number of pending properties for the week of February 6 – February 12 is up 66% despite a median sales price that is 31.67% higher than a year ago. This increase in pending sales would indicate that sales in February, 2022 will outpace sales in February 2021, particularly since February 2021 dropped from January 2021. The expected interest rates on the horizon could also be a catalyst for sales in early 2022.  We will see . . .

Preliminary January Sold Data

2022 Numbers as of 2/14/2022 (10:13pm)

Units Sold: 2,377 down 8.37% from January 2021 (The number of sold homes may increase as sales are reported/updated in MLS)
Average Sales Price: $566,404 up 24.89% from January 2021
Average Days on the Market: 27.52 days down 8.19 days from Jan 2021
Median Sales Price: $474,000 up 31.67% from 1 year ago