Market Watch for King, Snohomish, & Pierce County
It's spring market time! The housing market is heating up with roughly a 30% increase in new listings compared to last month. This surge in inventory is leading to multiple offer situations in many areas, so if you're thinking of buying, be prepared to act fast.
Our team has been busy helping clients win in this competitive market. Last week alone, we closed on multiple homes and secured winning offers for our clients. Pro tip: Acting fast and being prepared are key!
Here's some additional market intel:
- Interest rates are currently around 7%.
- Contingent sales (where you buy a new home while selling your old one) are still an option – there were 80 last week! However, this may become less available as competition intensifies.
- With so much activity, expired listings are rare. Listings Pending and Listings Sold are on the rise, reflecting faster sales.
Questions about the market? Let's chat!
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