The Numbers Are In, and 2021 Was a Wild Ride!

The Numbers Are In, and 2021 Was a Wild Ride!

    If you lived on planet earth last year you know that the real estate market was insanely hot. But just how much did the market climb in 2021? We crunched the numbers in a couple of the markets we operate in and the results are below. 

    In Pennsylvania we took a look at the north of Pittsburgh market. We compared 2020 to 2021 in northern allegheny county and all of Butler County. This includes Ross Township, Avonworth, Sewickley, Hampton, Franklin Park, McCandless, Shaler, Pine/Richland, Cranberry Twp, Mars, Gibsonia and More! While 2020 was a strong year despite the Covid challenges, we saw an average sale price of $309,447 with an average days on market 56. Compared to 2021 where we saw an over 12.5% appreciate leading to an average price of 348,544 with a quicker average days on market of 42. All of this happened despite the challenges that we continue to face today with a lack of inventory for buyers to choose from. 

    In Florida we saw an even greater jump. Using statistics from the entire BEACHES Multiple Listing Service which covers all of St. Lucie County, Martin County, Palm Beach County and Broward County; the average price for 2020 was $460,747 and it jumped a whopping 29% in 2021 to 592,607 even though total active listings for the year fell by 4% overall. 

    So what does this all mean for 2022? More of the same. Comparing just January 2021 to January 2022 we can already see a 16.2% increase in housing prices year over year. Despite the continued rise in prices it still remains a good time to buy as rates remain at historical lows. We caution waiting to buy however. According to data from S&P Global, the average mortgage interest rate from 2021 was 2.65%. Currently as of this writing the average rate is 4.22% (APR 4.170%). That means if you bought an average 3 bedroom home last year, your monthly principle and interest payment with 20% down payment (P&I) would have been $1,910.00* per month. That same exact house, if purchased right now, would cost you $2,700* per month. With interest rates expected to rise at least 2 more times this year, buying power will diminish as prices continue to rise. 

    Don't wait to buy a home and get caught paying more next year for a house we can get you on discount this year. We have systems to help home buyers find properties and avoid the hassles of a bidding war. 

    Need to sell your home but are worried that you won't be able to find a new house? We can help make sure that you are able to stay in your current home until you're able to close on your new home. Just ask us how! 

Pittsburgh Statistics

Florida Statistics

We Know What Makes Your Home Sell

We know what makes your home sell: How it's priced, how it shows, and how it's marketed. Selling your property is a big decision, so it's important to work with agents you can trust to get the job done perfectly.

When you choose to work with us, you're not just getting agents who use the best tools and technology to sell your property for the most amount of money in the least amount of time. You're getting transparency and instant communication throughout the entire process, so you can relax knowing every detail is taken care of. We custom tailor property marketing strategies to target where buyers are looking - both online and in person. Plus, we make listings shine with the best photography and content. We do all of this WITHOUT making you sign a long term listing agreement. Our Agreements are only 1 day long!

*mortgage payments calculated using average prices from the Florida statics and the average mortgage rates as reported by S&P Global