NEW YORK, NY, MARCH 9, 2022 — Compass, Inc. (NYSE: COMP), a leading technology-enabled residential real estate brokerage, today released a market data report based on findings by Compass’ Senior Managing Director, EA Stribling-Kivlan. The report focuses on residential real estate market data from January 2022 and expands upon trends across the country with a spotlight on three Compass markets: Chicago, IL, Dallas, TX, and Nashville, TN.

“January 2022 saw a national increase in the number of existing home sales, rising 6.7 percent over December 2021[^1], which includes townhouses, condos, coops and single family homes,” said EA Stribling-Kivlan, Senior Managing Director at Compass. “Not only was there a larger number of homes selling, which was most likely prompted by the anticipation of increasing mortgage rates, but the median price for existing homes rose 15.4 percent year over year to $350,300, which proved to be another record month, marking the 119th month in a row of year over year gains.”

“While the volume of sales and median price has increased nationally, inventory in January 2022 showed a continued decrease, down 2.3 percent from December 2021 and down 16.5 percent from January 2021,” continued Stribling-Kivlan. “It is astonishing to witness how very little there is to purchase, coupled with buyers looking to scoop up what remains to try and lock in lower mortgage rates. This is evidenced in how quickly homes are continuing to sell, with the national average days on market at 19 days in January 2022, down from 21 days in January 2021.”

National market updates[^2]:

  • Average national sale prices for existing residential properties in January 2022 increased by 15.4 percent from January 2021 to $350,300, marking the 119th straight month of year over year increases.

  • Total national housing inventory continued to decrease in January 2022, down 16.5 percent and 2.3 percent, compared to January 2021 and December 2021, respectively.

  • With high demand and low supply, the national average of days on the market for January 2022 continued to hover at 19 days, the same as December 2021 and down from 21 days in January 2021. Ultimately, 79.0 percent of homes sold in November 2021 were on the market for less than a month.

  • First-time home buyers have continued to remain reserved in the market, accounting for 27.0 percent of buyers in January 2022, down from 30.0 percent in January 2021.

  • In contrast to first-time home buyers, individual investors and second-home buyers continue to increase their presence in the market, accounting for 22.0 percent of January 2022 home sales, increasing from 17.0 percent in December 2021 and 15.0 percent in January 2021.

  • 27.0 percent of all home sales in January 2022 were all-cash, compared to 23.0 percent in December 2021 and 19.0 percent in January 2021, also demonstrating the continued interest from individual investors and second-home buyers. 

Focusing on Chicago, IL, Dallas, TX, and Nashville, TN, EA Stribling-Kivlan provided insights into the nuances of each market and how they compare to the national trends: 

Chicago, IL saw a 7.2 percent increase in year over year home sales for January 2022, a considerable contrast to the national average decrease of 2.3 percent[^3]:

  • Chicago has seen an interesting growth in year over year homes sales at 7.2 percent for January 2022, contrasting the national average decrease of 2.3 percent.

  • At a 32.7 percent drop year over year, Chicago’s decrease in inventory for January 2022 is approximately double the national average decrease of 16.5 percent.

  • “According to local Compass agents, multiple offers and offers with few to no contingencies are still common in many areas yet buyers are willing to exercise more patience than they were at this time last year,” said EA Stribling Kivlan. “The spring market is already off to a strong start, particularly for single family homes, with a 33.5 percent increase year over year for properties under contract, indicating that demand in the city remains strong.”

Single Family Homes

Overall Number Of Homes Sold

1,698 - January 2021

1,821 - January 2022

+7.2% Percent Change Year Over Year

Median Sales Price

$312,000 - January 2021

$312,000 - January 2022

0% Percent Change Year Over Year

Average Percent Of List Price Received

96.8% - January 2021

96.3% - January 2022

-0.5% Percent Change Year Over Year

Median Days On Market

84 - January 2021

85 - January 2022

+1.2% Percent Change Year Over Year

Inventory Of Homes For Sale[^4]

4,147 - January 2021

2,790 - January 2022

-32.7% Percent Change Year Over Year

Dallas, TX saw its January 2022 market inventory decrease by more than half, at 53.3 percent year over year, more than three times the national average[^5]:

  • Dallas saw an 8.6 percent decrease in the number of homes sold for January 2022, compared to January 2021, more than three times the national average decrease of 2.3 percent.

  • Dallas’ median sales price has inched closer to the national average of $350,300, with a 16.2 percent increase in January 2022, compared to January 2021, coming in at $315,000.

  • “In the Dallas market, Compass agents have noted that it is not uncommon for a property to receive upwards of 50 offers, many cash, with full appraisal waivers, quick closing schedules, and no option period,” said EA Stribling-Kivlan.

Single Family Homes

Overall Number Of Homes Sold

1,707 - January 2021

1,561 - January 2022

-8.6% Percent Change Year Over Year

Median Sales Price

$271,000 - January 2021

$315,000 - January 2022

+16.2% Percent Change Year Over Year

Average Percent Of List Price Received

97.4% - January 2021

100.1% - January 2022

+2.8% Percent Change Year Over Year

Median Days On Market

42 - January 2021

27 - January 2022

-35.7% Percent Change Year Over Year

Inventory Of Homes For Sale[^6]

3,533 - January 2021

1,649 - January 2022

-53.3% Percent Change Year Over Year

Nashville, TN saw a January 2022 increase in median sales price, more than 7.0 percent higher than the national year over year average[^7]:

  • Nashville’s median sales price for January 2022 has seen a 23.2 percent jump to $425,000, compared to January 2021, well beyond the national average increase of 15.4 percent.

  • Nashville’s listing inventory has decreased by over a third year over year, with the number of active listings at the end of January 2022 down 33.5 percent, compared to the end of January 2021, this decrease is over two times greater than the national average decrease of 16.5 percent.

  • “An influx of wealthy coastal buyers have flocked to the Nashville area, according to local Compass agents,” said EA Stribling-Kivlan. “Competitive buyers from states like California and New York have driven the average Nashville property to receive multiple all-cash offers, many times sight unseen.”

Single Family Homes

Overall Number Of Homes Sold

2,197 - January 2021

2,061 - January 2022

-6.2% Percent Change Year Over Year

Median Sales Price

$344,920 - January 2021

$425,000 - January 2022

+23.2% Percent Change Year Over Year

Average Percent Of List Price Received

98.9% - January 2021

100.7% - January 2022

+1.8% Percent Change Year Over Year

Median Days On Market

26 - January 2021

29 - January 2022

+11.5% Percent Change Year Over Year

Inventory Of Homes For Sale[^8]

3,195 - January 2021

2,124 - January 2022

-33.5% Percent Change Year Over Year


[^1] Based on data from the National Association of REALTORS® for the periods and locations described. Compass makes no guarantees as to the reliability, accuracy, or up to date nature of any information from the National Association of REALTORS®. Copyright ©2022 “Existing-Home Sales Surge 6.7% in January.” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. February, 18, 2022, https://www.nar.realtor/newsroom/existing-home-sales-surge-6-7-in-january.

[^2] Based on data from the National Association of REALTORS® for the periods and locations described. Compass makes no guarantees as to the reliability, accuracy, or up to date nature of any information from the National Association of REALTORS®. Copyright ©2022 “Existing-Home Sales Surge 6.7% in January.” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. February, 18, 2022, https://www.nar.realtor/newsroom/existing-home-sales-surge-6-7-in-january.

[^3] Based on data from the MRED (Midwest Real Estate Data) MLS for existing Single Family Homes within the Chicago, IL metropolitan area for the periods described. Compass makes no guarantees as to the reliability, accuracy, or up to date nature of any information from the MRED (Midwest Real Estate Data) MLS.

 [^4] The number of properties available for sale in active status at the end of a given month.

[^5] Based on data from the NTREIS (North Texas Real Estate Information Systems, Inc.) MLS for Single Family Homes in Dallas County, TX for the periods described. Compass makes no guarantees as to the reliability, accuracy, or up to date nature of any information from the NTREIS (North Texas Real Estate Information Systems, Inc.) MLS.

[^6] The number of properties available for sale in active status at the end of a given month.

[^7] Based on data from the Greater Nashville Association of REALTORS® and RealTracs MLS for Single Family Homes in the greater Nashville, TN metropolitan areas (Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson Counties) for the periods described. Compass makes no guarantees as to the reliability, accuracy, or up to date nature of any information from Greater Nashville Association of REALTORS® and RealTracs MLS.

[^8] The number of properties available for sale in active status at the end of a given month.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Compass' current perspective on existing trends and information as of the date of this release. Statements containing words such as  "expect," or similar expressions constitute forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from Compass' current expectations depending upon a number of factors affecting Compass' business, including, but not limited to, expansion into new markets, prevailing market conditions, the impact of general economic, industry or political conditions in the United States or internationally, and risks related to the impact of the COVID-19 pandemic. The foregoing list of risks and uncertainties is illustrative, but is not exhaustive. For information about other potential factors that could affect Compass' business and financial results, please review the "Risk Factors" described in Compass' Form 10-Q for the quarter ended September 30, 2021 filed with the Securities and Exchange Commission (the "SEC") on November 12, 2021, and Compass' other filings with the SEC. Except as may be required by law, Compass undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.

About Compass
Compass is the largest residential real estate brokerage in the United States by sales volume. Founded in 2012 and based in New York City, Compass provides an end-to-end platform that empowers its residential real estate agents to deliver exceptional service to seller and buyer clients. The platform includes an integrated suite of cloud-based software for customer relationship management, marketing, client service, brokerage services and other critical functionality, all custom-built for the real estate industry. Compass agents utilize the platform to grow their business, save time and manage their business more effectively. For more information on how Compass empowers real estate agents, one of the largest groups of small business owners in the country, please visit www.compass.com.