It’s the most buyer-friendly market since 2019
Did you know it's the most buyer friendly housing market in King County since 2019? Yes, even with today's interest rates. This will likely be another one of those times where folks will look back and say “Gosh, I really wish I had known to purchase then”. But don’t just take my word for it. Let's look at the data.
The first thing we look at when determining the climate of the housing market is months of inventory. Months of inventory is the measure of how many months it would take for the market to run out of homes for sale if no new homes hit the market. The higher this number is, the more opportunities there are for buyers.
In King county, this past September has brought in the highest months of inventory we've seen in the past 5 years.
Data provided by the NWMLS, Oct 2024.
And we see this reflected in the total active listing count for September as well - again, the most inventory we've seen in the last 5 years.
Data provided by the NWMLS, Oct 2024.
This means there’s more opportunity for buyers to score on price reductions, seller credits, interest rate buy downs!
That being said, the median home price for King County still increases each year, so this could be a great opportunity to enter the market, get a deal, and dodge some competition.
Data provided by the NWMLS, Oct 2024.
It’s a special time right now for buyers in the King County housing market to get into the market before buyer competition is expected to increase in the next few months, and before home prices continue to rise. Contact your trusted real estate advisor today to see if making a home purchase is this market could benefit you.