5
5
Unbelievable Interest Rates
75%
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Eastside Housing Update - Resale Only
Normal
The Eastside real estate market experienced a bit of turbulence in late March as the coronavirus crisis evolved. Following state-wide orders, the market virtually paused for a few days, but began picking up after real estate guidelines were adjusted to support social distancing. Now, with these guidelines in place, buyers and sellers can take advantage of historically low interest rates in the mid-threes. With inventory shortages in the more affordable, mid- and heading into the high-end price ranges, the focus remains on each new listing.
We’re now in the prime-time season for the luxury market, which runs from March through October. Conditions are starting to get back in line for a positive market in the high-end and luxury price ranges.
1
3.625%
OUR TECHNOLOGY SUPPORTS SOCIAL DISTANCING
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4
30%
Current
Average % of
New Listings (Pending)
in the First 30 Days
Current
Source: Priority Home Lending
APR: 3.628%
3
2
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Key Market Indicators – March Recap
From text notifications about new listings, to home searches conducted on a desktop or through the John L. Scott mobile app, our technology provides key advantages for buyers and sellers, especially in times of social distancing. Many buyers have a specific area and criteria in mind for a home and conduct their initial home search online – viewing photos and sometimes listing videos, all to get a feel for the home before setting foot on the property. Sellers can share a wealth of information online about their home, and serious buyers can set up a private showing to view in person.
It's a great time to buy or sell, please call if you would like to investigate.
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SCALE: MONTHS SUPPLY
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Real Estate Market Remains in Motion