Where Are All the Listings? Maybe 2021 Knows

, Mar 2, 2022

The 2022 real estate market has started off with a bang. Multiple offers are the norm, rather than the exception, which feels very much like 2021. In fact, our most recent Market Expectations Survey found that 47.9% of agents thought the spring market feels just like spring 2021.

The most common question we hear from buyers is, “Where are the listings?” Well, maybe 2021 can provide some insight! We looked back to see when most listings came on the market in 2021 and were surprised to see just how few came on in January and February.

In February 2021, only 2775 listings hit the market. In March, that number jumped to 4505, then to 5022 in April, 5671 in June, with a peak of 5671 in July. If 2022 behaves the same as 2021, we’ll see roughly twice the number of listings hit the market each month from Mar-July that we saw in February. In February 2022, we saw 2783 listings hit the market, which is incredibly close to 2021.

What about Sold Price and Competition?

The Average Sold Price in the Metro Area saw a huge gain of +30.9% in 2021. The biggest increase was the jump in Q1 at roughly +14.3%; Almost half of the annual gains. The first half of the year saw +21.5% gains. This means that the increase in prices happened largely in the first half of the year, with less dramatic increases the second half.

Inventory remained low (and firmly in seller territory) throughout the year, but it was at its absolutely lowest during the “busy months” from March to August. This seems counterintuitive because these are the months where more units hit the market, right? These are also the months with the highest buyer activity, so while the new units were entering the market, the buyers gobbled them up just as quickly.

What does this mean if I’m a buyer?

January and February are always really frustrating for buyers. Motivated buyers typically enter the market right after Christmas, but sellers are usually a couple of months behind with their new listings. Especially in this market, sellers are under very little pressure, and it’s more convenient for them to list when they leave for Spring Break or after school is out. Buyers will see more units hit the market, which means more options, but it will still be heavily competitive. If 2022 behaves the same as 2021, we’ll continue to see prices climb the first half of the year before calming somewhat the second half of the year.

What if I’m a seller?

You’re in a great position right now. It’s certainly a great time to list right now, but (barring any unexpected catastrophe) you’ll be in great shape a month from now or later in the year. This time of the year is the most fun to be a seller because of the low inventory and high demand, so your experience will be excellent in the spring and early summer. However, you can still sell in the summer and expect to see great prices, but possibly with less (or without) multiple offers.

Always bear in mind that real estate is hyperlocal and hyper-situational so please reach out to us if you have questions over your specific market or situation. We’d absolutely love to help!

Categories Austin News
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Last updated: 03/02/2022

2300+ Client reviews!

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Blessed to have connected with Kristen! I can’t say enough great things about Kristen. Her professionalism, market knowledge, and communication were beyond compare. She was incredibly patient throughout our home search. We looked at a countless amount of homes (we are very picky), and never once felt she was trying to push us in to something that wasn’t the right fit for the sake of a sale. We always felt she had our best interest in mind. Couldn’t recommend her more!!!

Sally was referred to me via a business network when I first moved to Austin in 2022. She helped me understand the area, evaluate my options, and find the perfect spot in a tough market. Sally has been a joy to work with because she creates partnerships + friendships with her clients!

I was impressed by Sally’s expertise in selling both my investment property and my primary residence, and in helping us buy our dream home. At our initial meeting, we found Sally knew the real estate market, but found even more impressive her emotional quotient in understanding and navigating the differences between my partner’s and my very different personalities. For my investment property, she timed the showings and sale perfectly and created a helpful Excel spreadsheet comparing the many offers. She was also savvy enough to suggest we pay the tenants a fair amount of money to make the property available for viewing from 9am – 5pm on the first weekend to make it as easy as possible for potential buyers to get through, and we let her deal directly with the tenants because we could tell her people skills would serve us well

We got multiple offers by the deadline on Monday afternoon with one outlier that was $150K higher than what we had unsuccessfully listed the property for (with a different realtor) a year earlier!

When it came to selling my primary home, Sally’s expertise in the luxury market, and in historic homes in particular, truly shone. She understood that selling a high-end property, with various restrictions, required a different approach. Sally crafted a listing for the home that perfectly captured its unique character and premier location. Her marketing strategy was well timed and appropriate for the more limited market, attracting the right buyer pool and creating a sense of exclusivity around the property. She suggested listing it on the private market for a week or two before sending a message that it would be listed on the MLS. She organized private showings that allowed buyers to experience the warmth and charm of the home and the neighborhood, which I believe was instrumental in securing a sale.

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Sally’s rep of us as sellers could not have been more professional, but her work repping us as buyers is the most memorable. We were trying to be our dream home in an overheated market, and Sally gave us advice that at each turn proved invaluable. She recommended offering just the right amount above the offer price for us to make it to the next round of offers. She handled a very difficult appraisal process by advising us on financing sources, even offering to help us put down a higher amount by loaning us money herself! We were able to finance the home without taking her up on that offer, but how many realtors make that kind of offer to their clients? In the end, we closed on the house ontime and ended up with the home of our dreams, thanks to Sally’s world-class advice and service.

We cannot say enough good things about Sally’s technical knowledge, people skills, and responsiveness. You won’t find a better realtor in Austin.

I have lived here in Austin for more twenty-five years, and have bought and sold several homes and rented others during those years. I have worked with five realtors during that time. SALLY IS BY FAR THE BEST OF ANY IN TOWN. Her work ethic is simply unmatched. She hides her competitive streak underneath a layer of Austin hip and friendly, but she will absolutely get you the best home, the best deal, and stop at NOTHING to get your home sold as well!

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Kiel is highly organized and unlike some realtors in the Austin area, he is responsive and ready to move quickly. We were always able to contact him and never left waiting.

Kiel has your BACK!! We are so grateful to have had his guidance and knowledge while navigating the intense, frustrating and way competitive Austin rental market. He quickly picked up on our taste and designed a game plan to help us push through the clutter and get to the properties that best suited us. He was ALWAYS available to us and answered our emails, calls and texts with great speed. We’re so grateful to have had him on our search team. Because my goodness, it really is a crazy market out there!

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