5
5
Unbelievable Interest Rates
63%
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Eastside Housing Update - Resale Only
Normal
As predicted, prices are rising as a power surge of buyers has entered the market, compounding the backlog of holiday buyers. Unsold inventory is down 54 percent compared to Jan. 2019, and the number of new listings is also down. These conditions, along with historically low interest rates and continued extreme job growth means the focus is on each new listing hitting the market.
The luxury market is also feeling the pressure on the Eastside, with listings virtually sold out in the $1 million to 1.5 million range. There is a strong market for luxury properties priced above $1.5 million.
1
3.47%
NEGOTIATION FOR SELLERS
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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 – January Recap
With buyers eager to secure their home of choice and get settled by the springtime, it’s a great time to put your home on the market! To maximize your home’s closing price and ensure your desired contingencies are met, it’s critical to work with a trusted broker associate who will be “in your corner” when negotiations come to the table.
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SCALE: MONTHS SUPPLY
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Housing Market at a Boiling Point