Here’s an overview of the market data from January 2022.
The Houston Association of Realtors has released the market data for January 2022, so today let’s go through the key details and learn what it means for buyers, sellers, and the market as a whole:
- Property sales in January rose 9.3% year over year, which shows us that inventory isn’t the problem in today’s market—the real issue is demand. An unprecedented number of people have been moving here from the coasts and up north. Some are moving due to cold weather, and others are seeking more affordable living costs.
- The total dollar volume has increased by 28.1%, which also shows us that the price of homes has increased.
- Total active listings on the market were down by 14% between this year and last. That demonstrates that more properties went under contract.
- The average sales price rose by 16.2% in the last year. In January 2021, it was $325,000, and this January, it was $377,000.
- In January of 2021, there were 1.7 months of inventory. That dropped down to 1.4 months this year. This decrease in supply is also due to the level of demand we’re experiencing.
- Pending sales increased by 15.7% year over year.
“Inventory isn’t the problem in today’s market—the real issue is demand.”
If you’re thinking of selling your home, this is the time to do it. Demand is extremely high, so you should expect a lot of showings within the first couple of days after listing. I can walk through your home and give you advice on how to make it look its best and ensure it sells for the most money possible.
If you’re a buyer, know that new listings pop up every single day, and one of them might just work for your price range. We’re here to help you find it.
Whatever your goal is, if you have questions or need assistance, feel free to give us a call or send an email. We’d love to help you.