the
Home Connection
Volume 12 | Issue 3
MARCH 2021
eye on the market Spring is just around the corner and for the housing market, this typically means a thawing of the winter slow down and the start of a busy spring market. However, the market remained hot through the winter and has continued its unprecedented pace. Intense homebuying activity continues to be driven by historically low interest rates and record low inventory of houses to purchase. In fact, the Northwest Multiple Listing Service data shows that despite an uptick in new listings in King, Pierce, Snohomish, and Thurston counties last month, demand still far outweighed supply and yet again has driven prices upward for prospective homebuyers. Year over year price growth continues to remain far above long-term averages.
experience this! The Northwest MLS shows median closed-sale prices for single-family homes have increased significantly when compared with the same month a year ago. In King County prices are up by 14.98 percent, in Snohomish County up by 17.66 percent, in Pierce County up by almost 15.79 percent and in Thurston County up by nearly 16.75 percent. For homebuyers to compete with current market conditions, there have been increases in trends such as buyers making their first offer above the list price, cash offers, and waived inspections in the hopes of securing a home in a ‘seller’s market.’ Brokers predict that we will see more of the same trends throughout the spring and summer as long as inventory and mortgage rates remain low. It will be interesting to see if this pace will in fact be sustainable and how this will continue to impact the Washington real estate market in the coming months.
Housewarming gift ideas
Destiny City Film Festival 2/26 – 3/7
Tour the Great Wall of China
Tacoma RV Show 3/4 – 3/72/6
View from the Eiffel Tower
Everett Half Marathon 3/27-3/28
Live web cams at the Georgia Aquarium
Virtual Irish Festival
Explore The National Gallery in London
Virtual tour of Louvre museum
Access Mars with NASA’s rover
Moving into a new home is a milestone to celebrate. If you are looking for the perfect housewarming gift, take a look at these thoughtful and useful presents that a homeowner will appreciate. 1. Flowertown Weddings Engraved Cutting Board; Customizable cutting board made with genuine wood, makes a great personalized housewarming gift. etsy.com $20.95 2. Linoto Linen Coaster Set; Protective washable coasters are great for protecting surfaces and come in a classic neutral shade that compliments home décor. linoto.com $12 3. Mixology & Craft Copper Bartender Kit; Beautiful well maid cocktail set that includes a jigger,
muddler, mixing spoon, cocktail shaker, strainer, liquor pourers, ice tongs, and corkscrew. amazon.com $69.99 4. Uncommon Goods Mason Jar Indoor Herb Garden; Self-watering mason jars are perfect for easily planting seeds and starting your garden. They fit on most windowsills and shelves. unccommongoods.com $20 5. Anthropologie Matte Latte Bowls; These colorful latte bowls are perfect for hot drinks, serving, or mixing continued on next page