Market Watch: Positive Momentum Buoys Buyers & Sellers (King, Snohomish, & Pierce County)
The housing market continues to show positive signs with New Listings surging nearly 100% last week, reaching 1389. This strong growth indicates increased seller confidence and bodes well for both buyers and sellers.
Price Adjustments: While price reductions rose slightly compared to the previous week, it's important to remember these adjustments can vary by location. This suggests potential for negotiation.
Contingent Sales: The uptick in contingent sales (62 last week) is a positive sign for buyers seeking flexibility. However, this option might become less available as competition intensifies.
Inventory and Sales: Expired listings remain low, likely due to limited inventory and faster home sales, reflected by the rising number of Listings Pending and Sold. This indicates a healthy market pace.
Overall, the month's upward trend continues, reinforced by last week's impressive figures. This positive outlook benefits both buyers and sellers.
The Market Watch data is for King, Snohomish, and Pierce County for the last 7 days as of Friday, February 2, 2024.
