October 2021 Newsletter

Page 1

the

Home Connection

Volume 12 | Issue 10

OCTOBER 2021

eye on the market Autumn is here and change is in the air. The real estate market has followed suit, exemplifying the “typical” fall slowdown in activity with drops in month-tomonth new listings, total inventory, pending sales, closed sales, and median prices, according to newly released MLS statistics. MLS data also shows that total inventory for the reported counties fell by 6.6 percent from July of this year and by nearly 22.6 percent from August of 2020. However, closed home prices did rise when compared year-over-year. In fact, Northwest MLS data shows widespread price escalations across most counties for closed home sale prices when compared with the same month a year ago.In King County prices are up by 14.41 percent, in Snohomish County up by 25.21 percent, in Pierce County up by almost 18.87 percent, in Thurston County up by almost 19.23 percent,

experience this! and in Spokane County up by nearly 26.5 percent (Spokane Association of REALTORS). Brokers have noted that homes are staying on the market slightly longer, which they have attributed to sellers ‘overpricing’ their properties. Since there is still quite a shortage of inventory, homes are likely to sell quickly when priced reasonably. In King County for example, median list prices dropped from $740,000 in July of this year to $729,000 in August of this year. In many counties, the median sales price also fell slightly in the monthover-month comparison. This may indicate that we are hitting a price ceiling and that the pace of home price appreciation will continue to slow as we move through the rest of the year. As homebuyers continue to find mortgage interest rates below 3 percent, and experience increased buying power, it will be interesting to see if listing prices are affected and how quickly properties sell.

Issaquah Salmon Days 10/2-10/3

Puget Sound Festival of Bands 10/23

Lilac City Comicon Seattle 10/2-10/3 Restaurant Week 10/24 –11/6

Washington Beer Fresh Hop Festival 10/8

Harvest Fest 10/25-10/31

Puyallup Oktoberfest 10/8-10/10

Snohomish Zombie Walk 10/30

Glass Pumpkin Patch 10/23

Monster Mash Goodie Bag Giveaway

Fences make great neighbors Choosing a fence plays an important role in your home’s exterior design and helps to bolster the security of your home. Here are several different types of fencing you can choose and what the distinctions and benefits are to each type.

• Aluminum Fencing. One of the most

basic types of fencing is aluminum. It is stylistic and adds a nice decorative touch to a yard. It is less secure than other types of fencing available, as the poles are spaced in a way that makes a property visible. it’s relatively maintenance free and customizable with paint and decorations.

• Wood Fencing. Wood is a very popular

type of fencing in America. It gives homeowners a lot of privacy with the height it provides and is also visually appealing, as wood fencing is said to give a warm and welcoming feeling. The height and size of your fence will greatly impact affordability as well as the type of wood you choose. They take longer to install continued on next page


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