Market Update - August 2021

In the latest episode of Market Update for August 2021, Aaron Janus and Diane Davi give us an in-depth look at the current state of the Seattle real estate market. Home sale prices continue to rise across King County - an increase of 17% year-over-year, to $789,000. Demand from Seattle area home buyers remains strong, continuing to outpace the supply of new homes coming on the market. As summer winds down we continue to find ourselves in a competitive seller's market with just 0.6 months of homes available for purchase - meaning that if no new homes came on the market, all available homes would be gone in just two weeks. The 30-year fixed-rate mortgage rate continues to hover around historic lows, at just 2.87%, allowing buyers more purchasing power and providing additional incentive for current homeowners to refinance. Learn more by watching the four-minute video.