Hey, it's Matt Stark with Windermere Real Estate!
I wanted to create a quick video for my clients with an update on the market for the last 30 days, specifically the month of July for King and Snohomish counties.
- There were 3862 closed sales in July, up 3.25% over July 2019.
- The number of new listings was 4991, up 20% over 2019.
- Pending sales jumped to a little over 4600 vs about 3500 the same time last year, a jump of just over 30%.
- Inventory dropped substantially to 3536 active homes for sale, a decrease of 46% compared to 2019.
What this all means is that despite any fears, buyers driven by low interest rates and a lack of supply are in a competitive market for well-priced and desirable homes. And for sellers looking to move up or just move on, the lack of inventory and strong buyer demand are creating a situation where sellers are seeing multiple offers on homes priced at or just below market value, many times with favorable terms for the seller.
If you're a buyer trying to figure out how to get your offer accepted, or a seller wondering how to maximize your sale price, please feel free to reach out anytime. Thanks!
All the best,
Matt Stark
(206) 607-2575
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