Have we seen a change in the market when we compare it with last year? Take a look at the following statistics, furnished by NWMLS.
- Total active listings King County: (2018) 6857 - (2017) 3693. Change +78%
- Total active listings Snohomish County: (2018) 2568 - (2017) 1850. Change +38%
- Total active listings Pierce County: (2018) 2742 - (2017) 2556. Change +7%
- Total Active listings Skagit County: (2018) 510 - (2017) 508. Change 0%
- Total pending (sold but not closed) King County: (2018) 2869 - (2017) 3514. Change -18%
- Total pending (sold but not closed) Snohomish County: (2018) 1307 - (2017) 1614. Change -19%
- Total pending (sold but not closed) Pierce County: (2018) 1612 - (2017) 1775. Change -9%
- Total pending (sold but not closed) Skagit County: (2018) 197 - (2017) 241. Change -18%
- Total Sold listings King County: (2018) 2331 - (2017) 3262. Change -28%
- Total Sold listings Snohomish County: (2018) 1180 - (2017) 1466. Change -19%
- Total Sold listings Pierce County: (2018) 1367 - (2017) 1617. Change -15%
- Total Sold listings Skagit County: (2018) 178 - (2017) 184. Change -3%
These factors point to a buyers market, increased inventory and reduced sales. In reality, selection may be better, but price drops are not a given. In the event you find a seller that "has" to sell, these statistics can be used to negotiate a better price, but in most instances sellers don't immediately drop prices. This is where an experienced broker can be of great service. We watch the trends and advise on timing. At that point seller flexibility and advantageous money availability coincide, "BUY!"
There are many factors that go into the home buying and selling equation. We have over 40 years experience, dealing with every type of market condition. Give us a call if you have a question, we can help.
