Our River Oaks Market Report ~ 2022 Outlook is at the printer this week and will soon be in subscribers’ mailboxes. In the meantime, we have a sneak peak at one of the categories that we always cover – the under-served Under $2 Million – that we have fleshed out with some extra graphs.
Note: A dwindling number of sales in the under $2,000,000 price range does not tell the whole story. Fewer viable houses were sold as lots for redevelopment in 2021 than in any recent year, and fewer still sold to spec builders.
The market spent most of 2021 turning its nose up at the offerings in this price range until, all of a sudden, those faded beauties – some of which had been on and off the market for more than a year – looked rather attractive in the light of winter. In some cases they attracted multiple suitors.
River Oaks 2021 Sales Price category
12 House Sales of $2 million or less
49 House Sales of $2 to $4 million
41 House Sales of $4 million or more
40 Land/Lot sales (all price ranges)
Take a look at these 2021 closed sales stats (above) and you’ll see this price category is desperate for inventory.