Market Update: March Stats

March stats are in and there are a few noticeable changes since February, primarily in median sales prices!

King County inventory dropped by .1 month of supply in March.

Inventory remained the same for Snohomish County at a .4 month supply.

Median price in King County was up by $75,025 to a whopping $845,000!

Median price in Snohomish County was up by $51,000 to $755,000.

March was certainly a frenzied month on the home buying front, but as we approached month's end and the start of April, interest rates began to rise. We don't yet have the stats to show how this may be effecting the market, and it doesn't feel like it is having an overall impact at least for the moment, but we will keep an eye on April's stats to see if can gauge the impact. For now, demand STILL greatly outweighs supply making it a very competitive seller's market!