Monday, January 30, 2023 / by Julie Winter-Paez
I cannot believe we're already in January. So it's really to dig into some of the numbers for 2022. I know we just did our seminar on what we're predicting for the new year. But let's also talk a little bit about what actually happened in 2022.
So we just did a complete report of the entire MLS by market segment. So we looked at off waterfront homes and in the MLS, closed sales were down but inventory new listing were down. And as we said all year long prices were up, list to sell ratio was up, and average days on market was down. So again, strong indicators of not a complete shifting market.
When we looked at the waterfront home segment for the entire MLS, you'll see that closed sales were down, new listings also down but as we said all year those prices were up and average days on market dropped and list to sell ratio also dropped. So very small amount but a little bit of a switch there.
The other thing we looked at was vacant land and we haven't spent a lot of time on vacant land this year. So let's talk a little bit about the entire MLS and vacant lots we broke it down to off water and on water. In the off water vacant land market in the entire MLS, closed sales were down, new listings also down, prices were up, list to sell ratio was up and then the average days on market dropped.
When we looked at waterfront lots, closed sales were down, new listings also down, but the average price went down as well, in this one segment alone across the board. The average selling price also went down and list to sell ratio increase as well as the average days on market.
So there's a little snippet of the overall four major market segments that we work in and as always, if there's something that you have a question on your specific market, give us a call. We would love to dig in a little deeper. Otherwise take a peek at all this data and let us know if you have any questions about the market. Have a great day.