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Key Market Indicators – September Recap 2020
Seattle Housing Update - Resale Only
The past three months set individual monthly records for the number of homes going under contract in central Puget Sound as well as an all-time high for the median home price in King County. There is surge sales activity intensity and a severe shortage of unsold homes priced up to $1 million in Seattle; 79 percent of sales take place in this range.
There has also been a record-setting number of luxury properties going under contract. There is a shortage of homes priced $1-2 million; in this range, sales activity intensity is at surge. There is low unsold inventory in the $2-3 million range, with strong sales activity intensity. Buyer activity is selective above $3 million.
Hitting Records Left and Right
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
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.
THE REAL ESTATE MARKET IS IN ROTATION
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