We are now into the month of March and are looking forward to the longer, light filled days ahead! Looking back on the first two months of 2022, real estate activity was extremely competitive with the continuation of deficient inventory and we experienced multiple offers in many situations. We have said this many times before: it is hard to predict how long this environment will last!
As the chart illustrates, total sales in the Bethany-Fenwick market were down 19% when compared to the same time last year as inventory remains at record lows. Meanwhile, sales volume in dollars (based on list price) was up 7%. Properties continued to sell very quickly. In fact, 43 of the 58 properties that went under contract this year did so within 10 days. The average sale price for properties settled in January and February was up 16% when compared to the same months in 2021.
With the Spring season just around the corner, now is an opportune time to list your property or begin your search for a new home. Please give us a call to strategize about how to maximize your results in 2022.