Looking at the data for May, 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 $639,358, a huge 23.5% increase, for all property types over May 2020. King County’s Average Sales Price was $898,695, an increase of 20.7%, for all property types over May 2020. WOW!
Closed Sales Data
Snohomish County Median Days on Market decreased from 8 in May 2020 to 5 days, down 37.5%! 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 53.8% in May 2020 from 1.3 months of supply to 0.6% while King County is down from 1.5 months supply in May 2020 to 0.9 months of supply, down 40%. After a small uptick in inventory levels, we’re back to being under 1 month supply.
Bottom Line
We are now at the half way point into 2021 and the market temperature is still a HOT seller’s market. Most all homes for sale 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!
