Summer 2023 Real Estate Market Update!

The Summer real estate market in King County is upon us! Team leader Rosie Rourke sums it during this short, 3 minute video. The charts referenced in the video are available for download, see below! 

The charts referenced in the video are part of our market snapshot report, download it below! 

🎥 RECAP: Buyers and Sellers, Here is What You Need to Takeaway From the Video...

Inventory (homes for sale) in King County is down about 50% from this time last year. The number of home buyers is also down but not as much as sellers. The question I always get is, "Are people still buying and selling homes?" YES and YES! Homes that are priced correctly and presented well with our stress-free listing program are selling. In some cases, we are even seeing multiple offers again. If you are thinking of selling or buying here is what you need to know:

Sellers: With the lack of inventory your home will stand out! Less competition for your listing means more buyers. Prices are still up from the surge a few years ago. Now is a good time to sell! 

Buyers: The higher interest rates (still historically low) scared off your competition... now is the time! Sellers are also willing to concede on inspections, rate buy downs, and other incentives. Now is your chance to buy a home before the rest of the buyers return. Remember, you can buy a home now and refinance later when rates go down. BUT, if you are waiting for rates to fall back into the 3% range, you will be waiting a long time. According to lending experts we will likely never see them drop that low again. 

Each month we compile all the NWMLS numbers into one, easy to read and understand market snapshot report! Download it for FREE below! 

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If you have any questions about selling or buying a home please reach out, we would love to help you!

Buyer representation is FREE and we also offer a FREE home pricing valuation consultation that includes an in-depth market report for your home! 

📲 206.719.5870