Market Shifts
It's been a minute since I posted our monthly stats. Not because I didn't think they were important, but because I simply wanted to wait until there was a noticeable difference to show. Prior to the market shifting, I was beginning to feel like a bit of a broken record!
Fast forward to today and inventory is up to a 2 month supply in both King and Snohomish counties. While this is still a bit away from a balanced market, the added inventory is a welcome change to give buyers more options and cool bidding wars down.
You'll notice here for both counties that while days on market are up slightly, so is the median price. The sky isn't falling! What we are experiencing is a return to a more "normal" market. The market frenzy we had been in wasn't normal by any means. Prices just shouldn't be rising that fast and you shouldn't have to forfeit all your contingencies in order to buy a home!
In today's market, contingencies are feasible and closing cost credits are more likely. If you've been considering buying, but were fearful of the competition, this market is for you! Let's connect about how we can get you into a home now to start earning equity today.
