What the heck is going on in the local real estate market?
Hi there! This is Gaurav Sood with GETSOOD, Skyline Properties, and let me just tell you what we are seeing in the local market right now. So here is some analysis from what occurred over this past November 2021. In King County there were 1,552 new listings that hit the market. 2,038 went pending and 2,347 were sold. The median sales price in King County was $820, 000. Homes are sitting for an average of 13 days on the market and there are 17 showings per listing. Currently, there is only 9 days of inventory left which is extremely low!! Now, let’s take a look at Pierce County stats. There were 1,009 new listings that hit the market, 1,317 went pending and 1,356 were sold. The median sales price in Pierce County is $515,000. Homes are sitting on an average of 16 days on the market and there are 9 showings per listing. Currently, there is only 15 days of inventory left. Sellers are desperately needed in King County & Pierce County, so if you have been considering it, now is a great time to get on the market. Now let’s take a closer look at zip code 98029 There were 15 new listings, 18 went pending and 19 homes sold. The median sales price is approximately 1,470,000 and homes are only sitting for an average of 4 days on the market. There is an average of 35 showings per listing and there is little to no inventory left. What can we gather from all of this information? We can say that this is still a very HOT sellers market. Inventory is at all time low and there are lots of buyers out there looking for a home just like yours. If you are contemplating if now is a good time, the answer is YES! Yes, this is GREAT time to sell. Got questions? We are standing by to answer them. Lennaea and I are here to serve so give us a call, we are always here to help!
