APRIL 2023
REAL ESTATE NEWSLETTER
CONTACT US:
425-236-6777
Home Inventory Plumets To 1.4 Months Again! Interest Rates Are Holding...So Far
March 2023 was a Seller's Market!
The number of for sale listings was up 90.1% from one year earlier and up 8% from the previous month. The number of sold listings decreased 30% year over year and increased 32.4% month over month. The number of under contract listings was up 21.1% compared to previous month and down 27.8% compared to previous year. The Months of Inventory based on Closed Sales was 1.3, up 162.1% from the previous year.
The Average Sold Price per Square Footage was up 1.1% compared to previous month and down 11.2% compared to last year.The Median Sold Price increased by 1.8% from last month. The Average Sold Price also increased by 3.7% from last month. Based on the 6 month trend, the Average Sold Price trend was "Appreciating" and the Median Sold Price trend was "Appreciating".
The Average Days on Market showed a neutral trend, an increase of 206.7% compared to previous year. The ratio of Sold Price vs. Original List Price was 97%, a decrease of 10.2% compared to previous year.
REAL ESTATE MARKET NEWS
Real estate brokers around Washington state say the market is moving in a positive direction with the spring market “finally showing up in March.”
Newly-released statistics from Northwest Multiple Listing Service show declines in some key metrics for March compared to 12 months ago, but steady gains when compared to February and January.
From February to March, key indicators, including new and active listings, pending sales and closed sales are trending upward. Areawide prices have also increased since January, up nearly 5.9%.
REAL ESTATE TIPS
INVESTOR CORNER
LIST OF VETTED CONTRACTORS
YOU CAN CALL IN TIMES OF NEED
EVENTS AND HIGHLIGHTS OF APRIL
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
PREVIOUS NEWSLETTERS:
