Key Market Indicators – July Recap
Southwest King County Housing Update - Resale Only
The housing market in Southwest King County is hot this summer, with historically low interest rates bringing out buyers. We are virtually sold out, and the number of homes going under contract is strong. These conditions create higher intensity for each new listing, making it feel like “multiple-offer everything” in the local market. Homes priced up to $1 million comprise 99 percent of sales activity locally; in this range unsold inventory ranges from severe shortage to extreme shortage, and sales activity intensity ranges from frenzy to extreme frenzy.
It’s Summer Hot and the Intensity is Glaring
Average % of New Listings (Pending) in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
77%
Current
2.87%
30%
Normal
John L. Scott’s Buy | Sell Safe™ Certification Program
Whether you’re buying or selling a home, we are more committed now than ever before to provide you with a top-notch real estate experience, while protecting the health and safety of all those involved. That’s why we’ve launched the Buy | Sell Safe™ Certification Program, a certification that redefines buyer services and seller services, so we can protect our communities together. Please reach out to your broker associate for more information on this new program.
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