Volatile Mortgage Rates Playing Havoc With Real Estate. Can This Crazy Real Estate Market Continue, Or Is There A Bubble Ready To Explode? Is The February Market Going To Continue And Are We Going To See A Massive Impact By The Feds?
January 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 FEBRUARY
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