REAL ESTATE MARKET TRENDS FOR 2022 We’re heading into an interesting year. Hopefully, the pandemic will become something we can soon put behind us but never forget. And with that, the marketplace will once again be changing. The housing activity that we have experienced in the last two years will probably not repeat itself in 2022. What California is experiencing right now is a “lack of new listings.” In January 2021 almost 5,000 new listings were added weekly to MLS’s statewide. In the last week of January 2022 there were roughly 4,200 new listings added. These numbers are well below prepandemic levels. The local State of Video Marketing 2021 by Wyzowl scenario pretty much mirrors the rest of the state. According to the annual market stats covering the past fi e year , t e tren a een onwar an u war Whether in Median Sales Price or Average Price Sold, we see very strong increases. The one factor that showed a slightly downward sign was the Single Family Residential Sold Count—most noticeable between 2020 and 2021. Possibly due to lack of properties available to sell, but perhaps more likely from the changes we continue to see in the workplace due to the pandemic. Competition remains unseasonably strong for the winter months. Again, as inventories continue to lag behind demand, ‘everybody’ wants the next property that becomes available. They want to be in the mountains or by the lake. Other trends we see coming are how outdoor spaces are changing and being utilized. What in the past were simply places to have a meal or plant a garden—maybe a place for kids to play—are now spaces geared and planned for all types of activities. With the pandemic we learned to appreciate the outdoors in ways we had
20
not done before. Now we cook, play, work, socialize, plant, grow and harvest all in our back yards. For 2022 the trend is to be water conscious. Consider xeriscaping which depends on low-water-use plants, mulch and e cient irrigation Not only i t e ack yar ’ c anging, front porches became the new phenomenon on social media in 2021. We simply loved sitting on our porches interacting with our neighbors at a ‘safe’ distance. Now in 2022, we are adding comfortable seating, potted plants and maybe even a rug to allow for closer interactions. Trending paint colors are once again headed towards the neutrals in 2022. According to 81% of interior design e ert recently ur eye , w ite or off w ite are t e best colors for selling. They provide the curb-appeal buyers are drawn to. Whites and creams also make for clean and fresh backdrops to many rooms once inside. Forgoing the grays and greens on the walls will in turn allow for more color for the individual decorator. Thanks to Anna GrahnNilsson, President of the Tahoe Sierra Board of REALTORS® for writing this article. You can contact the Board of REALTORS® at 530.583.0275, sue@ tahoemls.com or www. tahoemls.com.
CATT GUIDE / 2022-2023
+20_REAL ESTATE MARKET TRENDS.indd 20
6/7/22 11:01 AM
