Region's tight housing market about to get tighter with surge of buyers expected
Just how hot is the Puget Sound region's housing market?
A New Year's Eve closing that saw the buyers, who had been looking for months and had finally won a bidding war, pay 18% over the list price for a house in Monroe.
Coldwell Banker Bain President and CEO Mike Grady said this is was the experience of one of his company's clients. It is the reality of the market, which last month saw double-digit increases in new listings, sales and prices.
Inventory, despite increasing, didn't keep up December's demand, which the Northwest Multiple Listing Service (NWMLS) described as insatiable in a report it issued Wednesday.
Year over year, the median sales price in the four-county metro rose between 9.6% to $740,000 in King and 17.1% to $439,000 in Pierce. Prices in Snohomish and Kitsap counties both increased by about 12% to $573,495 and $426,000, respectively.
https://www.bizjournals.com/seattle/news/2021/01/07/seattle-housing-market-expects-surge-of-buyers.html