TEAM SKALLY | Market Update
TEAM SKALLY REPORTS:
The market is a “Tweener”!
Over the last two months market activity has followed interest rates closely. With inflation growth slowing year over year, interest rates are trending down. There is still low inventory with just over 1 month of supply on the Eastside, resulting in a significant uptick in multiple offers. Also, the # of homes selling over list price has more than doubled month over month.
For those considering buying, the market reversion has resulted in the median sold price being down 21% versus the peak a little over a year ago. So pricing is still favorable but it will not last long. As interest rates go down, competition and pricing will go up.
Curious what your house is worth or how the market is in your neighborhood?
DM us for our complimentary consultation & personalized report!
Cheers!
Matt & Christina
Matt & Christina are Team Skally, top real estate agents in the Seattle Metro with expertise in luxury homes on the Eastside including Bellevue, Newcastle, Mercer Island, Renton and Issaquah. Their client testimonials say it all - they deliver exceptional service and record-breaking results. Recognized as top agents on social media by Property Sparks, Diamond Award finalists for best client service and regularly featured in online and print publications including Greet - Newcastle & Newport Hills Magazine. In addition to serving clients, Matt and Christina love family time with their two boys and Leo, the Goldendoodle, as well as volunteering in the community.