King & Snohomish County Market Stats – February 2018

Median Home prices increased 22% from February 2017 to February 2018

Active inventory rose 3.3% to 780 properties, but buyers experienced no relief with the median price increasing a staggering 22% from February 2017 to February 2018 ($845,319 from $692,500).
Over half (52%) of the 529 properties that closed in February sold for over asking price. The median amount above list price was 8%.
68% of the closings were on the market for less than 15 days before being Sold!
Interest rates are a half a point higher at 4.33% than the low of 3.81% in September of 2017.
We don’t expect to see anything change and if the trend stays the same then we should see the majority of equity gained for 2018 realized over the next 3 months.

First posted at windermere-bellevue.com