February 2022 - Market Update

While we're certain we'll still have winter weather in the coming months, these past few weeks seem filled with the optimism of Spring. Buyers are out in force taking decisive action trying leverage the best in interest rates which have driven down inventory to record lows of just 6 days (0.2 months) across the Seattle metro area.

This high level of buyer activity has also affected list to sale price ratios driving them back up to 105-106% in King and Snohomish County - which aren't all-time highs but are still quite high, and I think we'll find February's numbers will be even higher before beginning to decline back to 102-104% for much of the Spring and Summer (see the Inventory article).

Intriguingly, the median home sale price dropped 3.2% in King County and 1.3% in Snohomish in January. This is most likely a statistical anomaly with fewer high-value homes getting into contract in December. Based on all we're seeing this should bounce back and strong in February and March.

Bottom line: If your home or neighborhood isn't working for you, or if you are thinking about fortifying your portfolio with real estate investments, give us a call so we can talk you through the opportunities/challenges of today's market and answer all your questions. Much like the past few years, it will take skill, persistence, and a well-defined strategy to get the best of the market - we are here to help & make your goals a reality.