Although the media does a good job of capitalizing on any source of stress in the housing market, one just has to look at the facts to measure where our market really is. Let’s take a look at how our local Eastside market performed this past October compared to last year and even further back!
Today’s Eastside real estate market is not the housing market from one year ago. I know this because for years I have kept a close eye on how the numbers change from month to month – what’s selling, what price points are moving, how much new inventory is coming on the market and how long is it taking to move. Here are some of those numbers that compare September 2017 with our just closed September 2018.
Then & Now
NWMLS stats for residential properties were gathered from areas 500-600, except areas 501 and 561.
Do You Have Questions?
How will today’s market affect me?
How important is location when buying or selling?
Is now a good time to make the move I’ve been thinking about?
It can be hard to tell what exactly is going on in our real estate market and even more, it can be hard to tell what information is reliable. Send me a message or give me a call and I can share the most up to date information with you!
Then and Now: Eastside Residential Active Listings
The graph below shows the number of Eastside active residential listings every April over the past ten years. Although we have seen a 24.2% increase in the number of homes on the market as compared to April last year, overall the number of listings has decreased 80.1% since 2008!
Are you wondering what this market means for you? Call, text, or email me – let’s talk!
We continue to add to the number of new listings, but it is simply not enough to keep up with the demand. As of March, there are 2,807 listings but we have more homes under contract than that (this is possible because homes could have pended in the previous month or even before). The number of listings available on the market continues to be at an historic low which means multiple offers are continuing as the norm this spring.
However, if you have been thinking about moving but aren’t sure how you would compete with other buyers, there are several options available to you right now making it easier to make a change. I welcome homeowners who want to learn more about their options to give me a call.
The Federal Reserve indicated they would start to ease up the interest rates which would likely mean a mortgage interest rate bump which could come as early as this summer.
If you are thinking of a move in the next 12 months, let’s touch base and strategize. Call (206) 595-4284 or email at Marcia@HardyRealtyLLC.com .