Market Update January 2022
Happy 2022!
We hope your year is off to a great start! As we closed out 2021, there is much to be reflected on! We'd like to start off by saying we are truly grateful for all of the opportunities we've had to help so many people in the past year.
A quick recap of our year:
- We welcomed 2 new team members- Heather Wingate and Vannie Opstal
- We made top 1% of real estate agents/teams in the Northern CA and Hawaii Region
- Our office hosted a golf tournament that raised over $5k for the Children's Receiving Home of Sacramento
- We sold $50,701,189 in volume with Average price point just below $500k
- We hosted 6 client and community events
- Virtual Paint Night
- Shred Day
- Ice Cream Social
- Trunk or Treat
- Pie Drive
- Photos with Santa
And the BIG ONE... our team had the honor of helping 103 FAMILIES meet their real estate goals!
Thank you for all of your support to make our year a success despite all of the challenges the year has brought us all!
It is hard not to notice the crazy growth we've experienced in the market over the past year. In the Sacramento Region alone, median prices increased almost 20% with the largest ever annual median price increase at $90,000. Beginning in late 2020 and continuing all throughout 2021, low inventory has remained steady at less than 1 month of housing supply (which in our opinion is one of the key contributing factors driving up the price point), a true testament to the laws of supply and demand! We also saw interest rates fall below 3% (another historical low) which propelled more motivated buyers to enter into the market. April through July we witnessed some of the most insane amounts of multiple offer situations on homes (you may recall reading or seeing a local news report where one listing in Citrus Heights received over 122 offers last Spring). And days on market also hit historical lows with homes selling on average in just 17 days. All in all, 2021 was most certainly a Seller's Market!
The market so far in 2022 has shared many of the same trends. Though we are only a few days shy of two weeks into the new year, we can see that inventory is still low and this will in turn continue to make the market competitive for all buyers. The crazy multiple offer scenarios we experienced through Spring and Summer are likely not to be as drastic, though we're still noticing between 2-5 multiple offers on each listing which is still quite notable. And with interest rates expected to rise and many sellers now becoming more serious about cashing out on their equity, we may see a small shift in the market, possibly slowing a bit. We of course don't have that crystal ball on exaclty when, so time will tell. As things progress throughout the months, we'll continue to provide additional insight as we see the next few chapters unfold. Stay tuned for our next market recap in February. As always, if you or anyone you know have any questions about the market or any needs as well, consider us as your resource. Call/text/email! We're here for you!
Thank you for being a HUGE part of our success in 2021. Our team is looking forward to connecting with you all in the year ahead! To share, we are shooting for the stars with a goal to help 120 families/individuals this year achieve their real estate dreams! So tell us, what are your real estate goals for this year and how can we help you achieve them? If you or someone you know is looking to buy,sell, or invest, we'd love to help! Let us interview for the job!
Afton Peterson DRE LIC#01880424 (916)613-2977 | Bobby Peterson DRE LIC# 0975523 (916)420-6508
Janelle Williams DRE LIC#02072535 *916)524-1459 | Heather Wingate DRE LIC#02100142 (916)517-2307
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DRE# 01975523
DRE# 01880424
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DRE# 01485473
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