Sellers know that if they price their home well, homes are still going to be Off-Market within 7-10 until 18 days. Marketing is not putting the home in the MLS, Marketing is proactively getting eyeballs on the property. Interest rates have stabilized. So what does it mean for real estate? Mortgage rates have stayed buyer friendly. Buyers are getting back in the market. Inventory remains low... and MORE!
MAY 2022 is a Seller's market!
- The number of for sale listings was up 30% from one year earlier and up 56.7% from the previous month.
- The number of sold listings decreased 8.2% year over year and increased 3% month over month.
- The number of under contract listings was up 1.7% compared to previous month and down 2.3% compared to previous year.
- The Months of Inventory based on Closed Sales is 0.8, up 56.3% from the previous year.
- The Average Sold Price per Square Footage was up 2.4% compared to previous month and up 17.6% compared to last year.
- The Median Sold Price increased by 4.7% from last month.
- The Average Sold Price also increased by 4.7% from last month. Based on the 6 month trend, the Average Sold Price trend is "Appreciating" and the Median Sold Price trend is "Appreciating".
- The Average Days on Market showed a downward trend, a decrease of 14.3% compared to previous year.
- The ratio of Sold Price vs. Original List Price is 108%, an increase of 0.9% compared to previous year.
EVENTS AND HIGHLIGHTS OF JUNE
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
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GEORGE MOORHEAD - Bentley Properties
[email protected]
Direct: 425-236-6777
14205 SE 36th St., Suite 100, Bellevue WA 98006
www.GeorgeMoorhead.com