December marks a low point for new listings, and a shortage of inventory this year in the more affordable and mid-price ranges means the pressure is on, despite the winter chill. In the more affordable and mid-price ranges up to $500,000 in Southwest King County, there is currently frenzy-level sales activity intensity; this range comprises 81 percent of sales activity. We anticipate that homes priced $500,000 to $750,000 (17 percent of sales activity), will reach surge sales activity intensity in the spring.
All the focus is on each new listing in the current market, which sends prices higher in the more affordable and mid-price ranges. Buyers should be Buyer Ready, Day One™ to secure the home of their choice.
Housing Market: Virtually Sold Out
SCALE: MONTHS SUPPLY
BE MARKET READY, DAY ONE™!
Key Market Indicators – November Recap
Southwest King County Housing Update - Resale Only
Average % of
New Listings (Pending)
in the First 30 Days
Source: Mortgage News Daily
Unbelievable Interest Rates
To secure your home of choice, it’s highly recommended to begin the process early by connecting with a trusted broker for a market consultation. Being Market Ready, Day One™ is essential to get a home in today’s real estate market. Beginning the financing conversation early is also key – it can help buyers understand what they can afford and create a higher level of seller certainty. The latter can provide a leg up above other buyers in the market, leading a seller to accept your offer.