Thanks for watching The Goelzer Home Team's monthly housing market update for the Western Washington Puget Sound Region. Are you or somebody you know looking to buy, sell, or invest in the Seattle / Bellevue / Tacoma / Puyallup / Olympia areas? If so, our team is here to help!
To search homes currently for sale in the Puget Sound Region, go to: NewListings.GHTHomes.com
To request a free Comparative Market Analysis to see your home’s value, go to: HomeValue.GHTHomes.com
If you have questions about buying, selling, or investing in real estate, please call (253) 244-3433 to speak with a REALTOR® for free. (Licensed real estate agents are available 7 days per week from 8:00AM to 9:00PM PT)
HOUSING UPDATE SUMMARY:
►Interest Rates Holding Steady with No Clear Timeline For Reductions: Interest rates have decreased by 0.15% over the past month to 6.79%, and while the rate decrease is encouraging, it has yet to have a significant impact on prospective buyers’ purchasing power or prospective sellers’ willingness to give up low interest rate mortgages.
►Still Not Enough Inventory for Home Buyers: It would take less than two months to sell every home that is currently active in the NWMLS inventory. The four counties with the lowest months of inventory in March 2024 were Snohomish (0.8), King (1.23), Pierce (1.39), and Kitsap (1.41).
►Prices Continue to Rise: If you are waiting for prices to drop before entering the market, think again. With on-going limited inventory, the median sales price has continued to steadily rise with a year-over-year increase of 7.5%. Even the median sale price of condominiums has increased more than 5% year-over-year.
►Timing the Market May Be Impossible: With interest rates holding steady, inventory levels remaining low and prices continuing to rise (although slower than recent years), buying or selling should depend on your overall real estate goals, not speculation.
The full article with further details is available on our blog at: www.GHTHomes.com
The Goelzer Home Team
Keller Williams Realty Puget Sound
33434 8th Ave S, Ste. 103
Federal Way, WA 98003
(253) 244-3433
Each office independently owned and operated. Information and statistics compiled and reported by the Northwest Multiple Listing Service.
17 апр 2024
