Looking at the data for January, 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 $698,808, a huge 21.9% increase, for all property types over January 2021. King County’s Average Sales Price was $901,786, an increase of 12.3%, for all property types over January 2021, which is slightly down from last month’s year to date. We’re just on the cusp of the Spring Market!
Closed Sales Data
Snohomish County Median Days on Market stayed even at 6 days in January 2021, the same as it was January 2020! King County Median Days on Market decreased from 10 days to 6 days, down 40%. King County homes are selling much quicker than before!
Inventory Data
Snohomish County inventory is at less than 1 month of supply, down 40% in January 2021 from 0.5 months of supply to 0.3% while King County is down from 0.9 months supply in January 2021 to 0.4 months of supply, down over 55%. Although we’re seeing signs of inventory coming up, it’s still well below a healthy level.
Bottom Line
As we enter the Spring 2022 market, 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 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!
