Welcome to February! In January our market saw a slow start with just 604 home sales. In fact, that was the slowest January since 2015. I am sure some of you felt it. But no need to worry, because in 2015 we saw a total of 13,100 homes sold. That is the second highest total in the last 15 years! Hopefully we will match that trajectory in 2022.
Today, we have published the monthly stats for January…make sure to download them and share them with your SOI. It is important to note that 53% of homes were still sold over list with an average of $4700 above the asking price. That is a slight up tick from December’s average. These numbers will continue to climb all the way until summertime. Last year we topped out in June with 76% of homes selling above list with an average of $16,200 above asking price. Knowing buyers will continue to have to offer above asking price, we have updated our chart showing the impact on monthly mortgage payment when they increase their offer. Download it today to make your conversations with buyers easier. At our office we make sure to publish them in all of our Home Buyers Guides. Keep elevating our industry.
Watch Video: https://youtu.be/gK71V9hKpwc
Download: January Sales Statistics to Share
Download: January Above Asking Price Statistics to Share
Download: Offering More? Monthly Payment Impact Chart
David Veldkamp
RE/MAX GR
(616) 460-6123 (Call or text)