Real Estate News

Weekly Market Snapshot: April 15- 21, 2022


This market calls for weekly updates.

Apr 15-21 Stats:

Average Sold Price: $1,321,256 ($1.136M, with skewing $4.2M sale removed)

Average %Difference List Price vs Sale Price: 107%

Average Days on Market: 24 (12, with skewing 211 day sale removed)

Apr 8-14 Stats:

Average Sold Price: $886,073

Average %Difference List Price vs Sale Price: 104%

Average Days on Market: 10


Apr 1-7 Stats:

Average Sold Price: $993,785

Average %Difference List Price vs Sale Price: 108%

Average Days on Market: 16

This is what a shifting market looks like!  Market characteristics are changing as supply and demand changes.

It is interesting to see last weeks drop in Sales and Listings. I think the flood of inventory and increase in interest rates to start this month, has cause buyers and sellers to pause, observe and assess the market.  Uncertainty is delaying peoples decisions.

Avg price jumped up again because 11/16 sales were >$1M.

Sales strategies have shifted now.  Holding offers, Offer Nights and bidding wars with multiple offers is not the standard strategy anymore, and when attempted, sometimes fail.  Much more common now we are seeing properties listed around "market value" and sellers "accepting offers any time".

It is still a good time to sell.  Prices are are near their highest level ever, demand is good, but active listings are climbing.  If you know anyone considering selling, have them contact me to discuss this opportunity.

If you’re buying, tides have turned! Buyers have options and a bit of time! Negotiate hard and stick to your goals!  There are some "deals" to be had.

Please let me know if I can help in anyway, I’m here to serve.

Be well everyone.

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Brian Lafazanos
Brian Lafazanos
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