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Western Washington Markets Stay Strong Despite Buyers And Sellers Feeling The Pressure

Most areas show slightly improving inventory even though some areas are still squeezed. 

With a rise in interest rates and fears of government revised tax laws, Western Washington markets remained competitive through the first quarter of the year. While other counties around the Puget Sound region have shown increases in inventory to about 1.4 months of housing, the region is far from the 4-month supply that most use as a measure of balance for a healthy marketplace. King and Snohomish counties still have a rate of less than a 1-month supply of inventory.

What are some brokers saying about the current market conditions? "We still have strong buyer demand in these competitive markets" or "We have not seen the typical aggressive spring market yet..." and "Market indicators are showing we are gaining a healthier balanced market" all the while acknowledging that the hyper job market in the Pacific Northwest is outpacing other metro area's across the nation. 

Northwest MLS figures show area-wide median prices are up more than 13.7 percent from a year ago overall, rising from $343,000 to $390,000. February's figures have substantially increased from a year ago.

While many potential buyers continue to sit on the fence and wait to see what the markets do, there are still many opportunities for those who have positioned themselves. Having all of their ducks lined up with their financing in place and a sound plan for when the chance to buy presents itself, they can still find good deals. 

Looking to buy or sell and want the process to be a little more painless? Call or email us and let us show you how we can remove a lot of this stress in these present conditions.  

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