Welcome to the Raleigh-Durham-Chapel Hill 2021 Annual Report. At the beginning of each year, we engulf ourselves in the sales charts, devour the data, look back at goals set, and check in on how our predictions for the past year held true. We do our best to learn from the past and prepare our clients and agents for the new year ahead.
With that, we present you with this synopsis of the national, regional, and localized trends that matter most to you, found here in our Raleigh-Durham-Chapel Hill 2021 Annual Report.
Whether your 2021 was personally challenging or highly successful, embarking into 2022 with a clear understanding of the data can help you make the best possible decisions to achieve your real estate goals. We have scoured the data to bring you information on the national, regional, and localized trends that matter most to you.
Our 10th year in business has been marked by major milestones that we are excited to celebrate: our 5,000th sale happened this year; we anticipate hitting the $2,000,000,000 sales volume mark; and our group now sits at #2 out of all the independent brokerages in the Triangle area. That is entirely due to the phenomenal performance of our agents, whose ongoing professional development and business growth are the driving force behind these outstanding results.
Since 2021 was, in spite of the pandemic and other challenges, a banner year for real estate in the Triangle market and even more so for our firm, nobody predicted what was in store for us in the pandemic sequel year. Our team leaned into and often led the market as we observed several unique trends emerging across our markets: a significantly higher rate of price appreciation than anything in the previous decade; a rash of bidding wars that caused a spike in the ratio of sales price to list price; and continued downward pressure on the supply of homes and days on market. Demand for housing in our market did not slow in 2021, but has gone from strength to the verge of mania in the spring and summer, as COVID-related restrictions were eased and showings resumed their previous pace. Until builders can accelerate development of new single family units, we don’t see things cooling off in our market.