Keep in mind that every city, neighborhood, and home are different, and the listing brokers strategy and negotiation skills can play in big part in the final SOLD price.
Overall Prices: The median SOLD price in the first quarter was $1,715,000 and we ended the year with a median SOLD price of $1,531,250. A drop of 22% for the year. However, prices are still 12% up from 2021 and 56% up from 2020.
Total Sales: 3604 units in 2021 and 2568 units last year. A 28% drop in the number of units SOLD.
SOLD properties priced under $700,000: 50 units in 2021 and 34 units last year. The percentage of the yearly SOLD volume remained similar.
SOLD properties priced $700,000 to $1M: 651 units in 2021 and 271 units last year. This represents a 60% drop in the number of units SOLD year on year and an 8% drop in the total sales volume for 2022 compared to 2021.
SOLD properties priced $1M to $2M: 2227 in 2021 and 1577 last year. This represents a 30% drop in SOLD volume but a steady 61% of the yearly sales volume each year.
SOLD properties prices $2M plus: 676 in 2021 and 686 last year. That is a jump from 19% of the total yearly sales in 2021 to 27% in 2022. This gave a small increase in the volume SOLD over 2021 of 1.5%.
All data from NWMLS searches and compiled by Tom Perry – Realty Executives Brio.
Be, Red, Iss, Kir – Residential-No New const-No condo-No townhouses
2022 – The Year In Review
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