Welcome to this week’s Stats by Kat, your expert source for
the latest King County housing market insights. The market is shifting, and the
numbers tell a compelling story—let’s dive in. Market Inventory & New Listings For the first time in a while, the market may be shifting,
inventory is suddenly back on the rise. King County’s housing supply has
increased from 0.8 to 1.0 months. Last week, 407 new listings hit the market. Offer Review Trends Sellers continue to leverage competition, with 55% setting
Offer Review Dates (ORDs) to maximize interest and encourage multiple offers. Multiple Offers & Contingencies According to the latest NWMLS Pending Data (March 11-17): ·
44% of pending homes received multiple offers. ·
30% of accepted offers included an Inspection
Contingency. ·
56% included a Financing Addendum. How Fast Are Homes Selling? The numbers show a clear trend: well-prepared homes are
still selling quickly and at strong prices. ·
57% of homes listed between March 2 – March 8
went under contract within 7 days. ·
70% of homes listed between Feb 16 – March 1
were under contract within 14 days. ·
83% of sellers accepted offers within 30 days
(based on closed sales). For homes that recently closed: ·
Average Days on Market: 27 days ·
Median Days on Market: Just 6 days This confirms that strategically priced, well-presented
homes continue to sell fast—many within the first week. What This Means for Sellers & Buyers Sellers:
Buyer demand is still strong, and home values are rising.
To maximize your sale price, focus on: ·
Strategic Pricing –
Position your home competitively from day one. ·
Staging & Preparation –
First impressions matter; make sure your home is market-ready. ·
Offer Review Dates – In
many cases, this strategy is leading to multiple offers and stronger terms. Buyers: The
market remains competitive, and homes are moving fast. To stay ahead: ·
Be Ready to Act –
Well-prepared homes are selling within days. ·
Submit a Strong Offer –
Price, terms, and contingencies matter. ·
Work With an Expert –
Having an experienced broker is crucial in securing your ideal home.
Thinking of buying or selling? Let’s strategize to position
you for success. Reach out today!
|