Deja Vu? Is the Market Returning to the Hot Pace of Spring 2022? Seattle's Eastside Update 1-24-24
Experience a sense of déjà vu as we dive into Seattle's Eastside housing market update with Tony Meier, a seasoned real estate expert from Windermere Real Estate with an impressive 35 years of experience. This update, dated January 24th, 2024, delves into whether we're witnessing a resurgence of the market fervor akin to Spring 2022.
🏠 **What We'll Cover**:
1. **Interest Rates**: A subtle increase of just 0.74% from last year. We'll explore its impact on the current market.
2. **Active Listings**: Active listings have dropped by 41% compared to last year, tightening the market considerably.
3. **Pending Sales**: An encouraging uptick of 7% in pending sales from last year. What's driving this increase?
4. **Months of Inventory**: The inventory has sharply fallen from 1.28 months to an intense 0.74 months - the most blistering pace since May 2022.
5. **Median Sales Price**: With a 7% increase from last year and surpassing December 2023's average of $1,440,000, we analyze what this means for buyers and sellers.
If you're curious about the latest trends, considering jumping into the market, or just love staying updated on real estate dynamics, this video is packed with critical insights.
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