As predicted, prices are rising as a power surge of buyers has entered the market, compounding the backlog of holiday buyers. In Southeast King County, homes in the affordable, mid- and high-end price ranges (up to $750,000) are virtually sold out. Unsold inventory is down 55 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.
Housing Market at a Boiling Point
NEGOTIATION FOR SELLERS
Key Market Indicators – January Recap
Southeast King County Housing Update - Resale Only
Average % of New Listings (Pending) in the First 30 Days
SCALE: MONTHS SUPPLY
Source: Mortgage News Daily
Unbelievable Interest Rates
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.