Is the February real estate market as far as inventory goes is SOLD OUT? Is new construction basically almost bankrupt? Buyers, Make sure you're making a Business Decision not the emotional one. If the Sellers Don't Provide Pre Inspection, Do Your Pre Inspection. Don't Buy a Home Unseen. 70% Of Home Offers had Bidding Wars and Mortgage Rates Hitting 4%!
February 2022 is a Seller's market!
- The number of for sale listings was down 18.8% from one year earlier and down 3.6% from the previous month.
- The number of sold listings decreased 14.6% year over year and decreased 39.7% month over month.
- The number of under contract listings was up 12.9% compared to previous month and down 8.7% compared to previous year.
- The Months of Inventory based on Closed Sales is 0.7, the same as the previous year.
- The Average Sold Price per Square Footage was down 2.2% compared to previous month and up 17.2% compared to last year.
- The Median Sold Price decreased by 2.5% from last month.
- The Average Sold Price also decreased by 5.2% from last month.
- Based on the 6 month trend, the Average Sold Price trend is "Depreciating" and the Median Sold Price trend is "Depreciating".
- The Average Days on Market showed a upward trend, a decrease of 17.2% compared to previous year.
- The ratio of Sold Price vs. Original List Price is 103%, an increase of 2% compared to previous year
EVENTS AND HIGHLIGHTS OF MARCH
Large portion of the commission we receive is donated to the Seattle Children's Hospital - STRONG program.
If you have any questions or comments you would like answered in next month's newsletter, email me at [email protected] and they will be included in the market update.
OR if you would like more information on our unique systems and programs, call us at 425-236-6777 or visit our website www.GeorgeMoorhead.com
PREVIOUS NEWSLETTERS:
© 2021. All rights reserved
GEORGE MOORHEAD - Bentley Properties
[email protected]
Direct: 425-236-6777
14205 SE 36th St., Suite 100, Bellevue WA 98006
www.GeorgeMoorhead.com