Southeast King County Housing Update - Resale Only
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE
INTEREST
RATES
3.18%
MONTHS
SUPPLY SCALE
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Source: NWMLS - Resale only
© 2024 John L. Scott Real Estate
CURRENT INTEREST RATE
September brought more listings and more transactions than this time last year. In the more affordable and mid-price ranges where 80% of transactions take place, we are currently experiencing a surge market which will result in an extreme frenzy of Sales Activity Intensity™ after the first of the year. Healthy job growth, lower interest rates, and an increase in the number of homebuyers entering the market is leading the way forward.
October 1, 2024 Source: Priority Home Lending
6.12%
Key Market Indicators OCTOBER 2024 (SEPTEMBER RECAP)
More listings. More transactions. Higher intensity ahead.
As we enter October, we are traditionally at the high point of unsold inventory for the year, meaning the best selections for listings will end soon. November and December see fewer new listings, creating the scenario where the transaction volume matches the number of new listings coming onto the market. Some of the unsold inventory either expires or gets repositioned until after the first of the year.
Winter Cleanup