New Pending Stats Providing Powerful Insights

As of this morning, there are more than 2700 pending transactions for houses in King & Snohomish county, and using new statistical tools, we know:

• • 34% of Sellers Received Multiple Offers
    
    
  • 15% of Seller Received An Escalation Addendum
    
    
  • 101% is the Average Pending Contract to List Price
    
    
  • 65% of Buyers Waived Inspection Contingency
    
    
  • 35% of Buyers Waived Financing Contingency

  
  

  Every real estate market has its complexities, and today’s market is full of them. The dynamics of the market vary widely from neighborhood to neighborhood, and previously we needed to rely solely on past data which even when its most fresh represents agreements which are 20-40 days old since there is a lag between agreement and closing. 

  Today, we have new Pending Data Tools which enable us to review statistics on the latest pending sales and contrast them to times in the recent past.

  
  

  For instance if we compare the month of January to the first weeks of February:

  • Multiple Offers declined by 4%.
    
    
  • Waived Inspection Contingencies Increased By 6%!
    
    
  • Escalation Addenda were 3% less frequent.
    
    
  • Median Pending Prices rose 6.5% to $895,000.

  
  

  
  

  Best of all, we are able to generate these reports down the city level and look back almost 12 months for comparisons.

  
  

  Why Does This Matter?
  With this power data we are developing even better pricing & preparation strategies for our sellers, and offer strategies for our buyers, for the best possible outcome. And, we're doing with data which is almost a month fresher than waiting for closed sales reports!

  
  Interested?
  Want to see what these stats look like for your neighborhood, or how we incorporate them into our strategies, give us a call or send us an email!