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Key Market Indicators – August Recap 2021
Eastside Housing Update - Resale Only
As we start heading toward the first of the year, the housing market intensity for each new listing will start tightening back up again on the Eastside. Approximately two months of good selection and availability of new listings remain in the local market before the winter market arrives. On the Eastside, the entire market is virtually sold out. Homes priced up to $2 million (79 percent of sales activity) have predominantly uber-frenzy Sales Activity Intensity.™
The $2 to $5 million price range on the Eastside has extreme frenzy Sales Activity Intensity,™ and there is very strong luxury activity above $5 million.
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
83%
Current
2.92%
30%
Normal
Extreme Real Estate Market Continues
ALL ABOUT SALES ACTIVITY INTENSITY™
Sales Activity Intensity™ is the measurement of the market intensity created by John L. Scott Real Estate. It’s a scale you’ll find above that looks at what percentage of new listings are going pending in the first 30 days. The higher the Sales Activity Intensity,™ the hotter the real estate market.
Two factors inform Sales Activity Intensity:™ the number of unsold homes on the market, and buyer demand. In the fall and especially over the winter, Sales Activity Intensity™ will increase, as there will be fewer new listings during this period when the backlog of buyers demand remains strong.
Tap to enlarge and zoom
ALL ABOUT SALES ACTIVITY INTENSITY™
Sales Activity Intensity™ is the measurement of the market intensity created by John L. Scott Real Estate. It’s a scale you’ll find above that looks at what percentage of new listings are going pending in the first 30 days. The higher the Sales Activity Intensity,™ the hotter the real estate market.
Two factors inform Sales Activity Intensity:™ the number of unsold homes on the market, and buyer demand. In the fall and especially over the winter, Sales Activity Intensity™ will increase, as there will be fewer new listings during this period when the backlog of buyers demand remains strong.