March Real Estate Stats

Spring has sprung...I think! 🌷 Though it still kind of feels like winter, we do have some early spring stats to share for March. 📊

The big takeaway here is that inventory is still minimal in both King and Snohomish Counties. A 1-month supply is nowhere near a balanced market. 📉 We are seeing a return of offer review dates and multiple offers in some areas as demand remains decent. 📝

Though these stats depict a drop in median price year over year, don't let that scare you. ⬇️ We have to remember that we came from one of the most intense, abnormal, frenzied markets we had ever seen last spring. 📈 Prices were inflated by low inventory, low interest rates and unprecedented high demand. The "drop" we see here, really just shows a leveling off to a more normal pricing level. ⚖️

Don't believe the hype. 🤯 The market isn't terrible and the sky isn't falling. If you want to buy a home, do it. If you need to sell your home, do it. There is opportunity on both sides of the coin. 🏡