Key Market Indicators – August Recap 2021
Southwest King County Housing Update - Resale Only
As we start heading toward the first of the year, the housing market intensity for each new listing will start tightening back up again in Southwest King County. Approximately two months of good selection and availability of new listings remain in the local market before the winter market arrives. In Southwest King County, the market is virtually sold out of homes priced up to $1.5 million. Homes priced up to $1 million (98 percent of sales activity) have predominantly extreme frenzy Sales Activity Intensity.™
The $1 to $1.5 million price range in Southwest King County has surge Sales Activity Intensity,™ and there is very strong luxury activity from $1.5 to $3 million.
Extreme Real Estate Market Continues
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
81%
Current
2.92%
30%
Normal
ALL ABOUT SALES ACTIVITY INTENSITY™
Sales Activity Intensity™ is the measurement of the market intensity created by John L. Scott Real Estate. It’s a scale you’ll find above that looks at what percentage of new listings are going pending in the first 30 days. The higher the Sales Activity Intensity,™ the hotter the real estate market.
Two factors inform Sales Activity Intensity:™ the number of unsold homes on the market, and buyer demand. In the fall and especially over the winter, Sales Activity Intensity™ will increase, as there will be fewer new listings during this period when the backlog of buyers demand remains strong.
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ALL ABOUT SALES ACTIVITY INTENSITY™
Sales Activity Intensity™ is the measurement of the market intensity created by John L. Scott Real Estate. It’s a scale you’ll find above that looks at what percentage of new listings are going pending in the first 30 days. The higher the Sales Activity Intensity,™ the hotter the real estate market.
Two factors inform Sales Activity Intensity:™ the number of unsold homes on the market, and buyer demand. In the fall and especially over the winter, Sales Activity Intensity™ will increase, as there will be fewer new listings during this period when the backlog of buyers demand remains strong.