Key Market Indicators – September Recap 2020
Snohomish County Housing Update - Resale Only
We continue to be virtually sold out in Snohomish County. Additionally, the past three months set individual monthly records for the number of homes going under contract in central Puget Sound. There is an extreme shortage of homes priced up to $1 million, and sales activity intensity is at extreme frenzy. 96 percent of sales activity occurs in this range. There has also been a record-setting number of luxury properties going under contract. Sales activity intensity in Snohomish County is strong in the luxury price range of $1-2 million; inventory is at a severe shortage. Buyer activity is selective above $2 million.
Hitting Records Left and Right
Average % of New Listings (Pending) in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
81%
Current
3.04%
30%
Normal
THE REAL ESTATE MARKET IS IN ROTATION
COVID-19 has made many reflect on what their home means to them. As a result, many people are looking to create that ideal place to call home - whether that means refinancing, remodeling, or moving. This reflection, along with historically low interest rates, have opened up possibilities for those looking to move within their local market or find a new home elsewhere with their family, friends and lifestyle in center view. No matter what you’re looking for in a home, a trusted real estate professional can help you along the way.
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