Curious how many homes sold in King County last month?

You don’t have to be an expert to know that our housing market is hot right now.  In fact, Seattle and Tacoma are currently trending as some of the most competitive markets in the country.  In this month’s email we wanted to show you exactly what those numbers are.
Overall, March was a seller’s market.  Here’s what that means:
Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
Overall, the current King County months of inventory based on closed sales is .8 months of inventory.  .8 months of inventory is an historic low, and means that if no new homes were to be listed, it would take only 3 weeks to sell out of everything that is on the market.  We would run out fast!
Below are the market specific numbers.  If you want numbers specific to your city, let me know and I’d be happy to get those for you.
EASTSIDE
Homes For Sale in March 2017: 662 units.
* Up 24.4% compared to the last month
* Down 21.1% compared to the last year
Homes Closed in March 2017: 568 units.
* Up 33.3% compared to the last month
* Down 9.4% compared to the last year
Homes Placed under Contract in March 2017: 784 units.
* Up 44.9% compared to the last month
* Down 1.9% compared to the last year
SOUTH
Homes For Sale in March 2017: 638 units.
* Up 6.3% compared to the last month
* Down 23% compared to the last year
Homes Closed in March 2017: 760 units.
* Up 28.8% compared to the last month
* Up 1.1% compared to the last year

Homes Placed under Contract in March 2017: 922 units.

* Up 37% compared to the last month
* Up 4.7% compared to the last year
METRO
Homes For Sale in March 2017: 461 units.
* Up 10.6% compared to the last month
* Down 17.1% compared to the last year
Homes Closed in March 2017: 763 units.
* Up 64.1% compared to the last month
* Up 11.4% compared to the last year
Homes Placed under Contract in March 2017: 836 units.
* Up 39.3% compared to the last month
* Down 0.4% compared to the last year
KING/SNOHOMISH
Homes For Sale in March 2017: 2467 units.
* Up 9.9% compared to the last month
* Down 22.6% compared to the last year
Homes Closed in March 2017: 2971 units.
* Up 36.2% compared to the last month
* Down 1.2% compared to the last year
Homes Placed under Contract in March 2017: 3697 units.
* Up 38.8% compared to the last month
* Up 0.4% compared to the last year
If you’re thinking of taking advantage of this seller’s market, reach out and we’d be happy to let you know what your home might be worth.  If you’re hoping to buy in this market but not sure if it’s possible or worth it, please reach out and we’d be happy to discuss your situation to come up with the best course of action for you!
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