Your First Market Update of 2022

Here’s an update on our current market and what it means for the future.

Want to sell your home? Get a FREE home value report.
Want to buy a home? Search all homes for sale.
Buy the Home You Want with a Cash Offer

Since this is our first blog post of 2022, we want to wish you a belated Happy New Year! If you’ve followed us for a while, you know that our first video every year is a year-end market update. Let’s see what happened in 2021 and talk about what it means for the future of our area. 

From 2020 to 2021, the average sales price in Marietta increased by 19%. Let’s take a look at how this breaks down based on the four school districts we focus on:

• Walton: 12% growth

• Pope: 18% growth

• Lassiter: 13% growth 

• Wheeler: 11% growth

" After the recession in 2008, builders didn’t build as many new homes as usual." 

At the end of the year, sales were down about 19%. For most of the year, sales were actually up, but things changed towards the end. The average days on market was 24 in 2021 as opposed to 32 in 2020. Sellers received an average of 101.5% of their list price, which is up from 99.3% in 2020. The average home took 26 showings before it went under contract. Also, the average buyer saw eight homes before going under contract.

Meanwhile, we ended 2021 with 30% less inventory than the prior year. People ask us what’s up with the inventory shortage all the time, and it comes down to two reasons. First, after the recession in 2008, builders were more cautious about building new homes. If it were an average time, we would have expected to see 10 million new construction homes come to the market; instead, those homes don’t exist. The other big reason is the influx of millennial buyers. So, we have more buyers than we’ve ever had and less inventory than we’ve ever had.

If you have any questions, please call or email us. We’d love to help!