As predicted, prices are rising as a power surge of buyers has entered the market, compounding the backlog of holiday buyers. Unsold inventory is down 49 percent compared to Jan. 2019, and the number of new listings is also down. These conditions, along with historically low interest rates and continued extreme job growth means the focus is on each new listing hitting the market. In Southwest King County, the high-end price range of $750,000 to 1 million saw great sales in the month of January.
Housing Market at a Boiling Point
Normal
SCALE: MONTHS SUPPLY
NEGOTIATION FOR SELLERS
Key Market Indicators – January 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
77%
30%
With buyers eager to secure their home of choice and get settled by the springtime, it’s a great time to put your home on the market! To maximize your home’s closing price and ensure your desired contingencies are met, it’s critical to work with a trusted broker associate who will be “in your corner” when negotiations come to the table.
3.47%
Current
