Southwest King County Housing Update - Resale Only
The Housing Market is Resilient
We have returned back to a surge level of Sales Activity Intensity™ this July for new resale listings going under contract the first 30 days. In Southwest King County, we are experiencing this for homes priced up to $750,000, where 83 percent of sales take place. Sales activity is healthy above $750,000.
Buyer opportunities have returned to the market, including increased availability and selection of properties, as well as fewer multiple offer / premium pricing situations.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE
INTEREST
RATES
3.18%
MONTHS
SUPPLY SCALE
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KEY MARKET INDICATORS AUGUST 2022 (July Recap)
Currently, some buyers are experiencing buyer gridlock, which means they are seeking to sell their current home before getting under contract for their next property. We recommend homeowners in a similar situation consider employing a home sale contingency. If accepted, this contingency could unlock the opportunity to get your next home under contract, while still allowing time to get your current home sold before the next purchase goes through.
UNLOCK OPPORTUNITY WITH A HOME SALE CONTINGENCY
Currently, some buyers are experiencing buyer gridlock, which means they are seeking to sell their current home before getting under contract for their next property. We recommend homeowners in a similar situation consider employing a home sale contingency. If accepted, this contingency could unlock the opportunity to get your next home under contract, while still allowing time to get your current home sold before the next purchase goes through.
UNLOCK OPPORTUNITY WITH A HOME SALE CONTINGENCY
