January 2022 – Real Estate Round-Up

Is winter over yet? The snow and short daylight hours make the season stretch out longer. At least, it can feel that way. We’ve been keeping a close eye on the market, and have to report that January was a lean month. This is good news for sellers, because it means listing your house now will get lots of buyer attention. It’s distressing for buyers, because they may have to compete to win the home they want or compromise on the amenities. Those sellers who are also buying are caught squarely in the middle.

Inventory – New & Sold Listings

Let’s take a look at our inventory first. In the previous 5 years, January’s average of new listings is 39 listings. This year, January only had 24 new listings. In fact, since October of last year, there has been more Sold listings than New listings every month!

We’ve noticed a lot of older listings that have been sitting on the market for months is finally getting attention and selling. However, we’re also seeing new listings getting snapped up almost as soon as they hit the market. This indicates that we have lots of qualified buyers that are actively watching the market.

Median Sales Prices & Interest Rates

Speaking of buyers watching the market, they’re also watching median sales prices and interest rates. Both are on the rise, which makes buying that much more challenging.

This means properly pricing your home is the best way to draw attention. Price your home too high and buyers won’t even look at it until after it’s sat on the market for months, when they have a better chance of making a lower-than-listed price offer and getting accepted.

Buyers are at a disadvantage in a lot of markets, but there is hope—spring is on the way! With the return of warmer, sunnier weather, we’re expecting more listings on enter the market. This is a seasonal surge and it’s sure to be met with hungry buyers. Make sure you stay on top of the market so you can put an offer on your dream home as soon as it lists.

If you have questions about selling or buying in the upcoming spring market, we have tons of information to share with you.

Colette@TheRardenTeam.com | 425-327-3915
Hailey@TheRardenTeam.com | 425-974-9312

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