2022 continues to see low inventory as buyers rush to lock in historically low interest rates as they begin to rise. The competition is pushing prices higher as we move into the spring market.
The median price in February came in at $1,300,000, the second highest ever. Overall prices appear to be trending upwards and demand is still outstripping supply. The market remains strong and we're seeing multiple offers on many properties.
2021 prices shown in gray, 2022 prices in orange:
Total transaction volume in 2022 remained significantly below 2021, which is a reflection of low inventory. Buyer interest remains high.
Buyer demand remains strong so we expect to see additional appreciation in the Spring.
Take a look at our annual report to see how the longer term trend is playing out - View report
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