Market Update - February 2022

In the latest episode of Market Update for February 2022, Aaron Janus and Diane Davi give us an in-depth look at the current state of the Seattle real estate market. Home sale prices in King County are up 11%. In the Eastside suburbs, the average sale price has ballooned a whopping 38% to $1,235,000. In the city of Seattle, the average sale price slumped 2.2% to $729,000 in January. What about available housing supply for buyers to purchase? Well, the demand from Seattle area homebuyers remains strong into February. In spite of a recent tick-up in the 30-year fixed-rate mortgage rate to 3.55%, the number of buyers in the market looking to purchase Seattle area homes, townhomes, and condos continues to outpace the supply of homes for sale coming on the market. This competitive seller's market is present throughout King County, where we ended January with just two weeks of available inventory to purchase. Learn even more insights about the Seattle real estate market by watching the full five minute video. Have a question? Schedule a call with us today.