Looking at the data for December, 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 $676,919, a huge 22.9% increase, for all property types over December 2020. King County’s Average Sales Price was $934,612, an increase of 16.8%, for all property types over December 2020. The typical winter slowdown for home sales is a thing of the past! If you’re looking at past trends, this is also a near exact match to November 2021 Average Sales Price data!
Closed Sales Data
Snohomish County Median Days on Market decreased from 7 in December 2020 to 5 days, down 28.6%! King County Median Days on Market decreased from 7 days to 6 days, down 14.3%. This is an exact match over the data from November 2021 as well!
Inventory Data
Snohomish County inventory is at less than 1 month of supply, down 50% in December 2020 from 1.2 months of supply to 0.6% while King County is down from 1.6 months supply in December 2020 to 0.8 months of supply, down 50% as well.
Bottom Line
As we begin 2022 and we are still in a seller’s market. As mentioned above, typically we see a slowdown of transactions during the winter months. This is still the case, but only due to the extremely low inventory levels. Buyers are still out looking at what homes are available, and bidding them up. It certainly has been interesting to watch. 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!
