Blog > Housing Report > Featured Stories > Quick Offers and Over Asking…

Quick Offers and Over Asking…

Subscribe

Get the latest Michigan Housing Reports delivered straight to your inbox!

Select report(s) to receive:

Topics

In early 2022, half of all sales are being reported as under contract within 10 days of listing. Nearly 60% of closed sales are selling at or above full list price. The “at or over asking” percentages are higher than they were early in 2021.

Expect 2022 to move in a similar pattern as last year. Extreme carryover demand, fueled by fear of rising interest rates, to be blended with historic low inventory levels. Bidding wars will drive prices up like they did in the first half of last year. By June, nearly three- quarters of closed sales will be at or over asking. The market will settle in the second half when many of the best properties are gone and rising interest rates, prices and property taxes cut further into affordability.

Anyone that plans to buy or sell soon would be wise to act early in 2022.

Get our Michigan Housing Market Reports right in your inbox

Which report(s) would you like to receive?

Featured Stories

View all →

Offer Up, Washtenaw County

2 minutes For the past several years a recurring story we have told is that inventory remains tight. In 2018 with only 425 available listings we were reporting on tight inventory levels [...]

Read More

Quick Offers and Over Asking…

< 1 minute In early 2022, half of all sales are being reported as under contract within 10 days of listing. Nearly 60% of closed sales are selling at or above full list [...]

Read More

Performance Update and Outlook – Washtenaw ’21

< 1 minute Recent Rate of Sales: 2021 began with extreme high demand and low inventory. Through the first half of the year, fierce buyer competition created bidding wars and “over-asking” sales that [...]

Read More

View all featured stories →