Market Update May 2022




➡️ All Property Types ⬅️


Average Price: $383K

Days on market: 33

New listings: 120

Sold: 83


➡️ Detached ⬅️


Average Price: $421K

Days on market:52

New listings: 69

Sold: 36


➡️ Attached ⬅️


Average Price: $269K

Days on market: 68

New listings:31

Sold: 17


➡️ House w/ Acreage ⬅️


Average Price: $658K

Days on market: 58

New listings: 8

Sold: 9


➡️ Mobile Homes ⬅️


Average Price: $293K

Days on market: 46

New listings: 12

Sold: 21


New Listings:

April 2022: 120

April 2021: 108


✅ Active Listings

April 2022: 227

April 2021: 348


Sales

April 2022: 83

April 2021: 83


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The Spring market has been keeping me on my toes, and it's time to give you an update on what is going on in the market. With the weather improving, the sun shining, snow is gone, and the grass is greener we are starting to see a lot of new properties come to the market which is giving balance to the low inventory we were experiencing earlier in the year. This increase in inventory could start to impact my suggested listing price for sellers. New listings bumped up from 90 new listings in April to 120 in May. Although we still have over 100 fewer active listings than we had in May of 2021 and there was the same number of sales overall with 83. But as interest rates rise, some buyers will be able to afford less! There are still buyers out there looking to buy before their rate holds expire so there's a bit of urgency at the moment for SOME buyers.


Sale prices seem to be holding pretty steady with most homes going close to asking if they are priced right in the first place, and the seller has put in the effort to get their home show-ready, and kept it that way for EVERY show!


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