Key Market Indicators – October Recap 2020
Snohomish County Housing Update - Resale Only
Real estate market activity in Snohomish County continues to rise, even as temperatures fall. It’s like the whole market is watching for each new listing! We are nearly virtually sold out of homes priced up to $1.5 million locally. This price range, which comprises 96 percent of sales activity locally, has sales activity intensity that ranges from frenzy to extreme frenzy.
There is a shortage of unsold inventory in the luxury price range of $1.5 to $2 million, and surge sales activity intensity. For homes priced above $2 million, buyer activity is selective.
The Real Estate Market Intensity Is Extreme
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
83%
Current
3.00%
30%
Normal
WHAT IS THE BEST TIME TO SELL YOUR HOME?
When pondering the question “when is the best time of the year to sell my home?” the answer is actually quite simple. The best time to sell your home is whenever it’s right for your individual circumstances! Many areas are nearly virtually sold out, raising the sales activity intensity to extreme frenzy for each new listing. As we progress through fall and winter, unsold inventory levels will drop even further.
These conditions, along with strong buyer demand due to historically low interest rates, have created a multiple-offer, quick-response market as buyers quickly snap up homes once they go on the market. If selling makes sense for you, connect with your trusted broker associate to explore further.
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