Market Update - January 2022

In the latest episode of Market Update for January 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 ended the year up 11%. In the Eastside suburbs, the average sale price at the end of 2021 was $1,280,000 - that's a 34% year-over-year increase. In the city of Seattle, the average sale price ticked up 4.7% to $753,000 to end the year. What about available housing supply? Well, the demand from Seattle area home buyers remains extremely strong as we start 2022. Encouraged by mortgage rates that hover around 3%, the number of buyers in the market looking to purchase Seattle area homes, townhomes, and condos continues to outpace the supply of new homes coming on the market. This highly competitive seller's market is present throughout King County, where we ended 2021 with just six days of available inventory to purchase, a record low. Learn even more insights about the Seattle real estate market by watching the full five-minute video. You'll be glad you did.