Welcome to this week’s Stats by Kat, your expert source for the latest Snohomish 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. Snohomish County’s housing supply has increased from 0.8 to 0.95 months. Last week, 155 new listings hit the market. Offer Review Trends Sellers continue to leverage competition, with 47% 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): · 39% of pending homes received multiple offers. · 28% of accepted offers included an Inspection Contingency. · 69% 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. · 58% of homes listed between March 2 – March 8 went under contract within 7 days. · 62% of homes listed between Feb 16 – March 1 were under contract within 14 days. · 75% of sellers accepted offers within 30 days (based on closed sales). For homes that recently closed: · Average Days on Market: 34 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! |