It is early in the new year so not a ton of market data yet, but we do now have the full month of January and therefore can compare to the past couple for context.
Overall, sales are lagging prior years, down nearly -25% vs. the same time in 2021.
The sub-750K market, which has seen the most significant decline in sales due to rapidly appreciating property values, is down over -33%.
The over 750K market, which saw a massive spike in sales over the last two years, is up 2-3% over the same time in 2021. Not a huge increase, but certainly still seeing growth, which is impressive considering how little inventory there is.
New listings are down -14% overall, with the sub-750K market down nearly 17% and the over 750K market down roughly -8%.
And I have certainly heard plenty of anecdotes of multiple offers on all types of properties at every price point from entry-level homes to luxury market properties.
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