I recently ran some stats for the Solterra Neighborhood, and I was amazed at what transpired in 2021.
As of 12/31/2021- We have no active resale listings in the neighborhood
- Average List price in 2020 was $784,099
- Average List price in 2021 was $959,414
- Average Sales price in 2020 was $777,141
- Average Sales price in 2021 was $974,449
- List Price vs. Sales Price Ratio was 102%
- Average days on Market for 2020 was 41 Days compared to 2021 of only 16 days
- Number of Sales for 2020 was 108 compared to 90 in 2021
- Number of expired Listings for 2020 was 13 compared to Just 4 for 2021
- Average Interest Rate at the end of 2020 was 2.75% compared to 3.25 2021
The Biggest take aways:
1.We had about a 20% appreciation rate this year
2.Our Inventory has plummeted with 0 active listings at the end of 2021.
3.Most sellers are getting above their asking price.
I’ve been selling homes in Solterra since the neighborhood was established and never have seen a market like this before.
Forecast for 2021-
- First part of the year will be very robust with higher Interest rates most likely coming Q3 and Q4 and that may slow down the pace of the market.
If you want to sell, I advise you to get it done in the first 6 months of 2021 while inventory is low, there’s Plenty of buyer demand and the interest rates are low -Great time to SELL!
