Real Estate Roundup
YOUR PULSE on the market | 1.2023
To start the year, the market has something to entice both buyers and sellers to enter the fray. Buyers are finding more selection and sellers with properly priced properties in good condition are quickly attracting qualified buyers. ● The new year brings with it a new wave of ● In those parts of our market where it remains optimism regarding the real estate market. solidly a seller’s market, properties in good Industry experts report we are experiencing condition and priced properly are swiftly going a leveling of the playing field as the housing under contract. Sellers who decided to delist market has entered a somewhat neutral their homes during the holiday season are territory in recent months, with neither buyers shoring up plans to bring them back online in nor sellers having the upper hand outright. the coming weeks as new qualified buyers enter the market. ● Buyers have more selection as inventory continues to rise. With this increase in market ● Most recent Northwest MLS stats show competition, brokers report sellers are more median closed sale prices for single-family willing to negotiate to get their property sold. homes are up slightly year-over-year in Fluctuating mortgage rates have at times many counties. In King County up by 0.85%, trended downward, nevertheless, the cost of a in Snohomish County up by 0.72%, in Pierce home loan continues to constrict buyers’ County up 1.94%, unchanged in Thurston purchasing power. County, in Chelan County down -2.61% and in Douglas County up 0.12%. In Spokane County ● To take advantage of interest rates when they prices are up 4.7% (Spokane Association of do fall, brokers are advising buyers to have all Realtors). their documentation in order so they can move quickly should a home come on the market meeting their needs.