Our SunCrest Market Update is a hyper-local analysis of the most up-to-date information regarding the SunCrest real estate market. The previous month's SunCrest housing information and future editions are released monthly.
The first quarter of 2022 is in the books! So far, things look quite different than they did a year ago. In the first three months of 2022, 21 SunCrest homes were listed and 16 sold. Compare that to the same time period in 2021 when we saw 60 SunCrest home listed and 30 sold. Buyers are still feeling like there is a shortage of available homes to see and ultimately buy. This has led to double digit percentage price appreciation and in many cases, multiple offers for sellers with many homes selling above a seller's asking price. So far in April, we're seeing an anticipated seasonal increase in the number of homes coming to the market, which has been welcomed by eager home buyers.
Our Take:
The SunCrest real estate market is fluid and changing. March, and so far April, have brought some much needed inventory and we're off to a steady start to 2022. For sellers, we're monitoring what impact the rise in rates are having on home sales and price growth. For those who are looking to buy, the recent rise in rates have impacted monthly payments and we're not seeing any signs that rates will be coming down in the near term. If you're in the market to buy or sell, working with an agent who is keenly aware of the most accurate and up to date information can help you prepare the best plan for your needs.
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