Weekly Market Update: March16th – March 22nd

This Week’s Stats

New Listings: 201 ↑ (last week: 200)

Pending Sales: 189 ↑ (last week: 180)

Closed Sales: 110 ↓ (last week: 130)

Price Reductions: 128 ↑ (last week: 116)

Weekly Trend Overview

The local housing market is maintaining its upward climb as we move into the second half of March. For the second week in a row, new listings have crested the 200 mark, showing a consistent flow of inventory coming online in Shoreline, Edmonds, and Lynnwood. Buyers have responded immediately to these new options, with pending sales jumping to 189, signaling that demand is rising right alongside supply.

The most telling statistic this week is the jump in price reductions to 128. This tells us that while there is plenty of foot traffic and interest, buyers are not acting impulsively. They are being highly selective and are quick to bypass homes that feel overpriced compared to the new wave of competition. We are seeing a market that is very active but also very disciplined.

Supply and demand are currently moving in tandem. This creates a window of opportunity where the market feels “busy” without feeling “frantic.” In areas like Bothell and Mill Creek, well-maintained homes that hit the sweet spot of pricing are pending quickly, while others are having to adjust their expectations within the first 14 days to stay competitive.

What This Means for You

Buyers

The steady stream of over 200 new listings per week gives you more leverage than you had a month ago. With 128 sellers reducing prices this week, there is a clear opening to find value, especially among homes that have been on the market for more than two weeks. You have more room to breathe, but you should still be prepared to move decisively when a high-quality, correctly priced home hits your radar.

Sellers

The increase in pending sales is proof that buyers are ready to pull the trigger, but the rise in price reductions is a warning. Your first week on the market is your best chance to capture a premium offer. To avoid being part of the “price reduction” statistic, focus on sharp pricing and ensuring your home stands out against the growing number of similar listings in your immediate neighborhood.

If you want to know exactly how these trends are impacting home values in your specific neighborhood, I am here to provide the local expertise you need.