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Key Market Indicators – May Recap 2021
Seattle Housing Update - Resale Only
Frenzy-level buyer demand has not waned, as May 2021 was one of the best months of May on record for homes going under contract in Seattle. The total number of listings counted in May came in lower than we would normally see due to the month starting on a Saturday and ending with a holiday weekend. The next three months will be critical for home buyers as we see an elevated level of new resale listings before the fall market.
The Seattle market is still virtually sold out up to $5 million. Local Sales Activity Intensity™ is predominantly at the uber-frenzy level for homes priced up to $1.5 million (89 percent of sales activity). Sales Activity Intensity™ is extreme frenzy in the $1.5 to $2 million range. In the luxury price range of $2 to $5 million, there is surge Sales Activity Intensity,™ and luxury activity is strong above $5 million.
Summer Market Maintains Brisk Pace
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
80%
Current
3.13%
30%
Normal
1. Determine your goals and clarify your priorities.
2. Search for homes on johnlscott.com, and sign up
for instant text notifications of new listings.
3. Get informed by understanding the key market
indicators and sales activity intensity.
4. Team up with your broker associate and lender to
best compete with other offers.
5. Be confident with your offer, with guidance from
your trusted broker associate.
6. Allow your broker associate to guide you through
every step of the home purchase process.
THREE IMPORTANT STEPS FOR HOME BUYERS
Tap to enlarge and zoom
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.
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.