Market Update - June 2021

In the latest episode of Market Update for June 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 16% year-over-year, to $775,000. Demand from Seattle area home buyers remains strong, with new listings coming on the market continuing to lag behind. Summer is here, and we are still very much in a competitive seller's market with just 0.5 months of homes available for purchase - otherwise known as two weeks. The 30-year fixed-rate mortgage rate has cooled down a bit to 2.99%, and it is still a great time for homeowners to refinance. Most of the homes that do come on the market are selling quickly, and many of them are selling for considerably more than list price.