2022 Annual UpdateIn 2021, our team celebrated its 34th year in business; and while our community still faces a global pandemic, the real estate market did not slow down! With low interest rates,
2022 Annual Update
Dated: January 27 2022
2022 Annual Update
In 2021, our team celebrated its 34th year in business; and while our community still faces a global pandemic, the real estate market did not slow down! With low interest rates, buyers were able to secure quality mortgages and the market overflowed with ambitious and determined buyers. At the same time, the inventory of homes on the market was low, which made negotiations even more intense.
Our listings were being sold quicker than we could get them, while our buyers were going up against 10-12 offers. This year tested our agent’s negotiation skills on both the buyer and seller sides. When facing competitive offers as a buyer’s agent, it was important to understand the true value of the home, not only to remain competitive in negotiations but also to protect our clients from outrageous and over-inflated listing prices. At the same time, an understanding of the market allowed our team to extract as much value for our sellers. Paired with our strong marketing strategies and accurate pricing, our team was able to get a 99.7% list/close ratio on our listings. Altogether, our team recorded 15+ million in sales volume and completed one of our best years to date!
Looking ahead to 2022, we expect the market to settle down slightly, especially towards the end of the year. With the Federal Reserve announcing upcoming rate increases, we can expect mortgage rate increases as well, resulting in a decrease of buyers in the market. As rates continue to rise through 2022, we should see less buyer purchasing power and less competitive negotiations. Decreasing buyer purchasing power means accurately pricing listings will become more important. Going into the spring market, our team is gearing up our marketing strategy to maximize exposure for our listings and keep our sellers ahead of the competition.
If you or someone you know is thinking about buying or selling a home this year, give our team a call! As always we are happy to provide a free comparative market analysis and discuss your home's current value. Our team is dedicated to helping our clients find their dream home and always work in their best interests. We would love to stay connected on social Media ~ and, of course, feel free to search for homes or market information on our website.
Associate Broker License 2011Philadelphia Magazine Five Star Award Winner ~ 10 consecutive years starting in 2010Main Line Today Top Realtor 2020Forbes Magazine Top 500 Realtors 2020Numerous awards fr....