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Key Market Indicators – August Recap 2020
Eastside Housing Update - Resale Only
We're virtually sold out on the Eastside up to $1.5 million (85 percent of sales activity). Buyers will find the greatest selection and availability of new listings coming on the market during September and October, until next March. Additionally, as we head into the year 2021, the intensity for each new listing will remain at a frenzy.
Luxury sales activity on the Eastside is very strong. A record number of homes priced $1 million and above went under contract on the Eastside in the past month.
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
73%
Current
2.88%
30%
Normal
One Word: WOW!
V-Shaped Sales Recovery is Underway in Real Estate
Many current and prospective homeowners are curious about how real estate is faring in today’s economy. Historically low interest rates and strong buyer demand has made the real estate market a bright spot in the national economy.
Recently, Lawrence Yun, the National Association of REALTORS (NAR) chief economist, noted that there are no indications real estate activity will wane any time soon, as the true V-shaped sales recovery continues.
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