Key Market Indicators – August Recap 2021
Snohomish County Housing Update - Resale Only
As we start heading toward the first of the year, the housing market intensity for each new listing will start tightening back up again in Snohomish County. Approximately two months of good selection and availability of new listings remain in the local market before the winter market arrives. In Snohomish County, the market is virtually sold out of homes priced up to $2 million. Homes priced up to $1 million (92 percent of sales activity) have predominantly uber-frenzy Sales Activity Intensity.™
The $1 to $1.5 million price range in Snohomish County has extreme frenzy Sales Activity Intensity,™ and the $1.5 to $2 million price range has surge Sales Activity Intensity.™ There is very strong luxury sales activity above $2 million.
Extreme Real Estate Market Continues
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
84%
Current
2.92%
30%
Normal
ALL ABOUT SALES ACTIVITY INTENSITY™
Sales Activity Intensity™ is the measurement of the market intensity created by John L. Scott Real Estate. It’s a scale you’ll find above that looks at what percentage of new listings are going pending in the first 30 days. The higher the Sales Activity Intensity,™ the hotter the real estate market.
Two factors inform Sales Activity Intensity:™ the number of unsold homes on the market, and buyer demand. In the fall and especially over the winter, Sales Activity Intensity™ will increase, as there will be fewer new listings during this period when the backlog of buyers demand remains strong.
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SEARCHING FOR NEW LISTINGS WITH JOHN L. SCOTT
Position yourself to create a buyer advantage when competing with other buyers and walk in confidence when making an offer. Your broker associate can consult with you to be up-to-date with current market intensity and pricing, get pre-approved or fully underwritten through a lender, and receive email/text notification of newly listed properties. In today’s instant-response market, it’s key to ensure you’re ready to act when the timing is right.
ALL ABOUT SALES ACTIVITY INTENSITY™
Sales Activity Intensity™ is the measurement of the market intensity created by John L. Scott Real Estate. It’s a scale you’ll find above that looks at what percentage of new listings are going pending in the first 30 days. The higher the Sales Activity Intensity,™ the hotter the real estate market.
Two factors inform Sales Activity Intensity:™ the number of unsold homes on the market, and buyer demand. In the fall and especially over the winter, Sales Activity Intensity™ will increase, as there will be fewer new listings during this period when the backlog of buyers demand remains strong.