The New Year is here, but let’s take a moment to look back on the market statistics we closed out 2021 with.
As expected during the Holiday season, the market slowed down a bit.
With only 1,935 New Listings hitting the market in December, buyers didn’t have much to choose from! This was a 24% drop from November’s New Listings and almost 10% down from December 2020’s numbers!
Despite fewer homes on the market, we still saw 2,697 settled sales. This is just slightly above November’s sales numbers…which leads us to inventory.
Hampton Roads inventory of homes dropped to just a .9 month’s supply of homes due to the steady continuous sales and the big drop in listings!
The number of active buyers in Hampton Roads stayed steady around 1,500 people searching for their dream home. Even with the low inventory, they still continued the hunt!
Surprisingly, despite the drop in inventory, our median sales price has stayed steady around $290,000.
Percent of List Price Received
For that median sales price of $290,000, sellers were receiving 100.7% of their listing price, a small increase from the 100.6% they were receiving in November.
Median Days on Market
Days on Market increased by 2 days compared to November, up to 16 days for a home to go from just listed to under contract.