I’m Sean Reynolds, the owner of Summit Properties Northwest and Reynolds & Kline Appraisal, and this is your market in a minute video for the month of March, 2018. Everything you need to know about the Puget Sound real estate market in one minute.
There’s so much competition in this market, the buyers feel like they’ve brought a knife to a gunfight. A recent run-up in interest rates and intense job growth have created a super competitive marketplace. There’s been a big surge in new listings and pending sales, and there’s also been a ton of new activity in the luxury home price marketplace. And the median home price in the four county area of King, Snohomish, Kitsap, and Pierce, those areas all have appreciation of between 14 percent and 19 percent and this super hot marketplace means there’s almost no inventory. In the four county area I just described, there’s almost less than one month of inventory.
So with continued job growth and almost no inventory, we expect this hot housing market to continue into summer. Don’t expect to cool down anytime soon. Again, I’m Sean Reynolds from Summit Properties Northwest and Reynolds and Kline Appraisal. Thank you for taking the time to watch the video. Love to have you like, subscribe or make a comment in the section down below. Thank you for taking the time to watch this video. If you like what you saw, be sure to check out our youtube channel. We create videos all the time, and would love to have you subscribe.
March 2018 Market In a Minute Video! If you watch one video this month regarding real estate; watch this one! Everything you need to know about the Puget Sound Real Estate Market In One Minute!