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NWMLS Market Snapshot – February 2021 Data

Looking at the data for February, 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 $592,723, a huge 16.8% increase, for all property types over February 2020. King County’s Average Sales Price was $812,341, an even larger increase of 12.9%, for all property types over February 2020.

Snohomish County Median Days on Market decreased from 16 in February 2020 to 6 days, down 62.5%! King County Median Days on Market decreased from 17 days to 7 days, down nearly 60%!

Snohomish County inventory is at 0.5 months of supply, down 54.5% from 1.2 months of supply in February 2020. King County is at 0.9 months of supply, down 25% from 1.2 months in February 2020. This is the exact same inventory level that we saw last month.

Still, the market temperature is still a HOT seller’s market. In nearly all homes for sale, sellers are receiving multiple offers. If you’re interested in selling your home, this is a great time to get it sold for the best price. 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!

Work With Bill

Get assistance in determining current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact me today.

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