Looking at the data for August, we continue to see inventory still at an all time low and prices of homes increasing. The data and images you see on this blog are for all the NWMLS.
Snohomish County had an Average Sales Price of $663,140, a huge 23.2% increase, for all property types over August 2020. King County’s Average Sales Price was $928,807, an increase of 19.8%, for all property types over August 2020. That’s a small dip in percentage increase compared to July data.
Closed Sales Data
Snohomish County Median Days on Market decreased from 7 in August 2020 to 5 days, down 28.6%! King County Median Days on Market decreased from 7 days to 6 days, down 14.3%.
Inventory Data
Snohomish County inventory is at less than 1 month of supply, down 46.2% in August 2020 from 1.6 months of supply to 0.7% while King County is down from 1.6 months supply in August 2020 to 0.9 months of supply, down 43.8%. This data also closely matches June’s inventory trend.
Bottom Line
As we near the end of the 3rd Quarter of 2021 and we are still in a seller’s market. We have seen a small shift in the amount of offers homes are getting, and I’ve seen too many homes go on market for higher prices only to then reduce price. It certainly has been interesting, as inventory still is low and buyers are being a bit more savvy. If you’re interested in selling your home, this is still a great time to get it sold, however a smart marketing plan is needed to get you the best price. I’d love to share my marketing plan with you! If you’re interested in buying and taking advantage of the low interest rates, I have successfully won on multiple offer situations with my buyer clients! Let's talk about strategy!
