NWMLS Market Snapshot – February 2022 Data

NWMLS Market Snapshot – February 2022 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 $734,592, a huge 23.9% increase, for all property types over February 2021. King County’s Average Sales Price was $927,043, an increase of 14.7%, for all property types over February 2021, which is slightly up from last month’s year to date. We’re just now enterting the Spring Market!

Closed Sales Data

Snohomish County Median Days on Market stayed even at 5 days in February 2021, one day from 6 days February 2020, down 16.7%. King County Median Days on Market decreased from 7 days to 5 days, down 28.6%. King County homes are selling much quicker than before!

Inventory Data

Snohomish County inventory is at less than 1 month of supply, down 20% in February 2021 from 0.5 months of supply to 0.4% while King County is down from 0.9 months supply in January 2021 to 0.4 months of supply, down over 55% which exactly replicates last month’s data. Hopefully we’ll see more inventory come on market this Spring!

Bottom Line

As the Spring 2022 market begins, we are still very much in a seller’s market. Buyers are still out looking at what homes are available, and bidding them up. It’s been a great time for sellers and a frustrating time for buyers. 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 interest rates (as they slowly climb), 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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