Key Market Indicators – May Recap 2021
Southwest King County Housing Update - Resale Only
Frenzy-level buyer demand has not waned, as May 2021 was one of the best months of May on record for homes going under contract in Southwest King County. The total number of listings counted in May came in lower than we would normally see due to the month starting on a Saturday and ending with a holiday weekend. The next three months will be critical for home buyers as we see an elevated level of new resale listings before the fall market. The SW King County market is still virtually sold out up to $1.5 million. Local Sales Activity Intensity™ is at the uber-frenzy level for homes priced up to $1.5 million (98 percent of sales activity). Sales Activity Intensity™ is frenzy in the $1.5 to $2 million range, and luxury sales activity is strong above $2 million.
Summer Market Maintains Brisk Pace
Average % of New Listings (Pending) in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
87%
Current
3.13%
30%
Normal
THREE IMPORTANT STEPS FOR HOME BUYERS
Position yourself to create a buyer advantage when competing with other buyers and walk in confidence when making an offer. Your broker associate can consult with you to be up-to-date with current market intensity and pricing, get pre-approved or fully underwritten through a lender, and receive email/text notification of newly listed properties. In today’s instant-response market, it’s key to ensure you’re ready to act when the timing is right.
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THREE IMPORTANT STEPS FOR HOME BUYERS
Position yourself to create a buyer advantage when competing with other buyers and walk in confidence when making an offer. Your broker associate can consult with you to be up-to-date with current market intensity and pricing, get pre-approved or fully underwritten through a lender, and receive email/text notification of newly listed properties. In today’s instant-response market, it’s key to ensure you’re ready to act when the timing is right.
