King County Housing Market Update, October 2017

Happy Fall! Every month, I am dedicated to provide you valuable intel into our community, and it's Real Estate.

The numbers are in from September and here's where King County stands:

Screen Shot 2017-10-09 at 1.01.26 PM.png
 

As you can see, the market is still growing. Thank you to a healthy economy, low employment rate, and a steady influx of new population, I don't expect this to slow down. 

Also, the amount of homes for sale dropped a staggering 17.4%, confirming our lack of inventory. 

Screen Shot 2017-10-09 at 1.01.37 PM.png
 

For fun, I wanted to shout out Tere Foster and her team at Avenue Properties for procuring the largest sale, of $23,375,000! Unbelievable. 

If we continue down the graphic, the amount of new listings are starting to even out from last year, which is a good sign. 

 (SOURCE: NWMLS)

(SOURCE: NWMLS)

 

Another interesting data point to look at is the luxury market and homes above $1,000,000 in King County. With almost 42% in growth alone from last year, this is a segment that reiterates the strength of our market.

Going forward, if you're a buyer, October is going to be your best bet for inventory, until the end of February. 

If you're a seller, there's no shortage of active buyers still looking for what you may have. If you're looking to act soon - October is your month until it slows down in December. 


Have a question about real estate? Want to know more?

If you have a question about real estate or want statistics on your home, feel free to contact me.

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If you're looking to buy and don't know where to start, or how to compete, you may want to download this:

 
Austin SchneiderComment