5
5
Unbelievable Interest Rates
67%
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Eastside Housing Update - Resale Only
Normal
The housing market on the Eastside is already at extreme frenzy sales activity intensity in the more affordable and mid-price ranges as we begin the new decade. Homes priced up to $1 million are at an extreme shortage of unsold inventory; 75 percent of sales activity takes place in this range. With historically low interest rates and strong job growth locally, the local housing market is poised for a hot year.
In the luxury market on the Eastside, homes priced $1 to 2 million are at a shortage, with surge sales activity intensity. Homes priced above $2 million have strong sales activity intensity.
1
3.72%
HOW TO WIN IN A MULTIPLE-OFFER SITUATION
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4
30%
Current
Average % of
New Listings (Pending)
in the First 30 Days
Current
Source: Mortgage News Daily
3
2
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Key Market Indicators – December Recap
When buyer demand is high and inventory is low, you may find yourself in a multiple-offer situation. While an all-cash offer can be enticing for a seller, it’s still possible to beat one with an offer that considers additional “plus” points for a seller. Being fully underwritten as well as offering more earnest money, a quick close, a pre-inspection and fewer contingencies can all boost your chances of coming out on top. Your John L. Scott broker associate can help craft a winning strategy to secure your dream home.
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SCALE: MONTHS SUPPLY
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Get Ready: 2020 Housing Market is Hot