February Market Watch

The start of the year has been lackluster to say the least. The small remaining inventory has been slowly disappearing without much in terms of new listings.

Numbers in King County for January are down over the 2018 final outcome. However, price per square foot is up meaning lower priced smaller homes were selling thus bringing the overall average price down.

Snohomish County is slightly lower across the board. However the inventory there created a more balanced buyer-seller market. Now that the market is back to 2.5 months of inventory numbers should swing slightly in favor of sellers again.

I believe early spring (Feb/March listings) will be more competitive than any time during the last 5 months.

Bottom Line

As a buyer the inventory is below what a balanced market typically presents. If you can find a home that has been on the market for 30 or more days there is plenty of room for negotiation. For sellers, listing in the next 6 weeks allows you to beat the typical spring influx of new inventory. We call this the “early spring” timeframe.

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