Our traditionally busy spring market shifted to the summer months this year. As you’ll see from this chart, the numbers in August were up across the board compared to last year. Buyers continue to be active in the market and looking to take advantage of the historically low interest rates.
Joh L. Scott is committed to keeping everyone safe and healthy during the home buying and selling process by providing extra training for all their Brokers! Be sure to ask about the protocols for your county!
The inventory of homes for sale in Normandy Park has dropped, the median sales price has increased and the average days on market has decreased. This coupled with historically low interest rates resulted in homes selling faster and for higher prices due to the higher demand. Despite the pandemic, the real estate market continues to show resiliency.
There’s still time to make your real estate goals happen this summer. Let’s talk!
| Pending in 4 Days! 1369 SW 174th St 5 Beds | 3.75 Baths | 3,640 Sq. Ft $997,000 This Normandy Park home has it all: Ideal location, Puget Sound views, and room for everyone! |
| Pending in 6 Days! 8132 Marine View Dr SW 3 Beds | 2.75 Baths | 2,410 Sq. Ft Listed at $750,000 Entertainment sized living room with vaulted ceilings, stunning stone fireplace, Puget Sound views from the deck and generous sized backyard. |
Quarantine, Schmorantine!
With new restrictions on viewing homes and even leaving home to run basic errands, you would think that homes would languish on the market for weeks.
But the numbers reveal otherwise.
The average time on the market for residential properties in King County is almost half of what it was last year! In fact, we haven’t had this low of an average in over a year! Many qualified buyers are trying to take advantage of low interest rates and making competitive offers on limited inventory.
Despite the Covid 19 pandemic, year to date median home prices in April were up in King, Pierce and Snohomish counties.
Whether it’s a wooded hiking trail, a walking path, access to the beach or just a small carved out green space with a picnic table or bench – Normandy Park residents love their parks!
We all find ourselves in an extraordinary time with the COVID-19 virus. During the past few weeks things have moved so quickly that it is hard to keep up with the daily reports about the virus and its effect on our way of life. Many are wondering how this pandemic will affect the real estate market.
These are difficult times right now for so many and there will be substantial economic fall out for a lot of people during this health crisis. But we must keep in mind, this is a health crisis – not a housing crisis like we saw back in 2008. Immediately prior to the virus outbreak, the spring housing market was heating up quickly. Housing inventory was limited and buyers found themselves already having to compete when making offers to buy. The pandemic has definitely slowed our market down but it is still moving forward. The Governor has deemed real estate an essential business as many people are still in need of housing. Our industry has implemented new business practices and strict guidelines in order to keep everyone safe.
I believe that real estate is a strong long term investment and I’m confident we will recover from this and our economy and our communities will thrive again.
If you are in need of real estate services right now, please reach out. I can help you.
If you can, I hope you’ll stay home and stay safe.
I saw these on my morning beach walk. They bring a whole new meaning to the “beach bungalow” style home.
