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