November 2021 RE Roundup

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Real Estate Roundup YOUR PULSE on the market | 11.2021 Our real estate market continues to simmer with fewer listings, but enough demand to have buyers battling over the best listings.

● The housing market has remained very active this past month with the latest market statistics showing year-over-year gains in new listings, closed sales, and continued price escalations. ● This high activity has been attributed to the historically low interest rates that continue to drive the real estate market as well as pent-up buyer demand, job and lifestyle changes, and inventory shortages. ● In King County prices are up by 9.55 percent, in Snohomish County up by 18.42 percent, in Pierce County up by almost 18.87 percent, in Thurston County up by almost 20.51 percent, and in Spokane County up by nearly 21.2 percent.

● It has also been noted by brokers that along with home price increases, low inventory remains a big challenge for buyers. ● The housing shortage indicates strong demand still exists with a continued migration of buyers to suburban markets. ● It's likely that buyers are drawn to these areas because housing is more affordable than in the more urban neighborhoods closer to big cities.


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