Market Watch for King, Snohomish, & Pierce County
Happy Spring! Here's a look at what's happening in the real estate market across King, Snohomish, and Pierce Counties.
Low Inventory, High Demand: While inventory remains tight, there's some good news for buyers: new listings are steadily entering the market.
Months Supply: This metric indicates how long it would take to sell all active listings if sales continued at the current pace. Currently, King County sits at a low 1.1 months supply, Snohomish County at 0.8 months, and Pierce County at 1.4 months. This means that the market is moving quickly.
Market Activity: Last week alone, we saw 1,881 new listings added across the three counties, with 1,272 closed sales and 2,349 pending sales. This highlights the active buying interest and competitive environment.
Quick Sales: The median days on market for residential homes continues to be low: 5 days in King County, 6 days in Snohomish County, and 9 days in Pierce County. This means homes are selling quickly, so be prepared to act fast if you find your dream property.
Our team is dedicated to helping clients navigate this competitive market. Last week alone, we secured several homes under contract for our buyers and are actively preparing new listings to hit the market soon.
Questions about the market? Let's chat!
