January 2022 Market Report
Starting Off the New Year Strong
January saw a slight increase in inventory from December but not nearly enough to meet the growing demand of buyers. Both residential and waterfront properties are selling for hundreds of thousands over asking with up to 20 offers. If you are looking at selling, now really is the time!
The average sale price of Residential properties has hit an all-time high at nearly $700,000! Waterfront properties are also selling for all-time highs of nearly 1.5M. These prices are up 50% and 65% respectively, from last year (January 2021).
Offer days are bring set for almost every listing. These properties are nearly guaranteed to sell on their offer days and are averaging 22% over asking for residential and 12% for waterfront lots.
Nothing seems to be slowing this market down! Buyers: be patient and prepared to pay over asking, there is a lot of competition right now.