Key Market Indicators – April Recap 2021
Southwest King County Housing Update - Resale Only
Every May we see a nice uptick in the number of new resale listings coming on the market. This increased availability and selection will be present throughout the summer. However, there is still a large backlog of home buyers, keeping the market in a state of “instant response” for each new resale listing. In Southwest King County, the market is virtually sold out up to $2 million. Sales Activity Intensity™ locally is at uber-frenzy for homes priced up to $1.5 million, where nearly 100 percent of sales take place.
Instant-Response Market Continues Into May
Average % of New Listings (Pending) in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
91%
Current
3.12%
30%
Normal
SIX STRATEGIES FOR TODAY’S MARKET
1. Determine your goals and clarify your priorities. 2. Search for homes on johnlscott.com, and sign up for instant text notifications of new listings. 3. Get informed by understanding the key market indicators and sales activity intensity. 4. Team up with your broker associate and lender to best compete with other offers. 5. Be confident with your offer, with guidance from your trusted broker associate. 6. Allow your broker associate to guide you through every step of the home purchase process.
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SIX STRATEGIES FOR TODAY’S MARKET
1. Determine your goals and clarify your priorities. 2. Search for homes on johnlscott.com, and sign up for instant text notifications of new listings. 3. Get informed by understanding the key market indicators and sales activity intensity. 4. Team up with your broker associate and lender to best compete with other offers. 5. Be confident with your offer, with guidance from your trusted broker associate. 6. Allow your broker associate to guide you through every step of the home purchase process.
