Real Estate Market News
|Keep the dream ALIVE!|
Buyer Alert: To capture your goal in the current market climate you will need to continue to be in it to WIN it! Don’t pump the brakes and let the fear of competition or the myth of needing a higher down payment keep you from getting your home. Stay agile, while you ebb and flow with the market. Inventory levels remain low; however, we are seeing an increased number of new listings coming on the market daily. Consult our team and your mortgage advisor for how we can help best position you to get a ceiling on inflation and begin to retain equity for yourself today! Here and in agreement to align our market experience with your real estate goals. We are just one message away.
Keep it rolling….
There are a lot of hyped-up, pre-conceived ideas swirling around right now about the local real estate market. We all hear things on social media, in the news and even from well intentioned family and friends. The talk is that prices are out of control, it’s only a seller’s market or the housing bubble is about to pop so I will wait until then. These statements can leave buyers feeling like they cannot or should not compete in this market or simply cannot afford a home right now. Yes, home prices have risen and it’s very competitive when purchasing. There is no reason to lose heart. Highest price doesn’t always win. Constructing a great offer with well-crafted components is key. Having the right strategy and presentation will set you up to compete and win. Currently, interest rates remain low and with the right lender and home loan program your borrowing power is strong. The right game plan can empower you to make now the right time to purchase. Take advantage of this time! Contact us to help you establish a plan to accomplish your goals.
Extreme Focus on Each New Listing
EASTSIDE: “The housing market is white-hot this winter on the Eastside. It’s the “same song, different year” for the local market: overall Sales Activity Intensity™ at extreme frenzy for each new listing, virtually sold out of inventory and what feels like multiple-offer everything for buyers. This demand is fueled in part by interest rates, which remain historically low. We are virtually sold out with extreme frenzy sales activity intensity up to $3 million; 98 percent of sales take place in this range. The luxury market on the Eastside is also hot, with Sales Activity Intensity™ at frenzy and extreme frenzy in the $1-3 million range. Sales activity is selective in the $3-5 million price range, and strong above $5 million.”
SNOHOMISH COUNTY: “The housing market is white-hot this winter in Snohomish County. It’s the “same song, different year” for the local market: overall Sales Activity Intensity™ at extreme frenzy for each new listing, virtually sold out of inventory and what feels like multiple-offer everything for buyers. This demand is fueled in part by interest rates, which remain historically low. Homes priced up to $1 million are virtually sold out in Snohomish County, and Sales Activity Intensity™ is at extreme frenzy. 96 percent of sales activity occurs in this range. The luxury market is seeing surge sales activity in the $1 to $2 million range, which is also virtually sold out.”
SEATTLE: “As we entered 2021, the local Seattle housing market hit the lowest point of the year in regards to homes for sale. Looking forward, there will be more listings on the way this year as the weather begins to warm in spring. The $350,000 to $1.5 million range is virtually sold out and had Sales Activity Intensity™ that ranged from surge to extreme frenzy. 90 percent of sales take place in this range. Luxury buyer activity is selective for homes priced $1.5 million and above in Seattle.”
~J. Lennox Scott – Chairman and CEO.