Fresh Look, New Year!
Happy 2021!! We hope this communication finds you well and that this new year is off to a fantastic start!
The pulse of the market is strong and steady. New listings are beginning to surface and buyers continue to engage with avid effort to capture the homes they love. Interest rates remain low and perceived buying power in most cases is higher than expected. These factors are cultivating a fast paced market. In the event you find yourself pondering your goals and are interested in knowing what your home is worth or what your money can buy, reach out for your free home evaluation or buyers consultation. We will assist in establishing a game plan and path to take your goals and convert them into a reality. Here for you and in support.
“Off the Charts” Housing Market Activity
“The unique housing market in 2020 continues into 2021, with frenzy-level sales activity intensity for each new resale listing, fueled by low interest rates and a huge backlog of buyers.”
EASTSIDE: “The Eastside is virtually sold out of unsold inventory and although December has the lowest number of new resale listings annually, new listings in Dec. 2020 were up 81 percent. This led to a higher number of homes going under contract compared to Dec. 2019. The Eastside luxury market is also hot, with extreme frenzy sales activity intensity from $1 to $2 million, strong sales activity intensity from $2 to $5 million, and healthy activity above $5 million.”
SNOHOMISH COUNTY: “Now that the holiday season is complete, Snohomish County will see a power surge of home buyers enter the market in 2021. The intensity of the local housing market is higher than it was a year ago, with more homes going under contract than new listings entering the market. We’re virtually sold out up to $2 million, with predominantly frenzy and extreme frenzy sales activity intensity in the local market.”
SEATTLE: “Now that the holiday season is complete, Seattle will see a power surge of home buyers enter the market in 2021. Although there were more active listings in Dec. 2020 versus Dec. 2019, there is a severe shortage of inventory in the $500,000 to $1 million range.The Seattle market is virtually sold out up to $1.5 million, and sales activity intensity is predominantly surge in that price range. In the luxury price range above $1.5 million, sales activity intensity is healthy.”
~J. Lennox Scott – Chairman and CEO.
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