7-Day Market Update

Our real estate market experienced turbulence in March as the coronavirus crisis evolved. It started with buyer demand far exceeding the properties available which resulted in multiple offers on each listing. Following state-wide orders, our ability to show homes was put on hold, then several days later the State of Washington guidelines were adjusted, allowing buyer showings with social distancing procedures in place. 

Buyers and sellers are now taking advantage of historically low-interest rates in the mid-threes. We have an inventory shortage and the focus right now is to bring additional homes for sale to meet buyer demand. Just when the public might think that the real estate market has come to a complete halt, the reality is that buyer demand is strong, and sellers are getting their homes sold quickly.

Our 7-day market update highlights what you need to know about local real estate trends.