Seattle Real Estate Market Update [December 2021] - Market in a Minute

Here is your 𝑺𝒆𝒂𝒕𝒕𝒍𝒆 𝑹𝒆𝒂𝒍 𝑬𝒔𝒕𝒂𝒕𝒆 𝑴𝒂𝒓𝒌𝒆𝒕 𝑼𝒑𝒅𝒂𝒕𝒆 for December 2021. Your Market In A Minute Video, everything you need to know about the Seattle Real Estate market in 1 minute!!

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King County, Snohomish County, Pierce County, Thurston County Real Estate Markets
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Northwest MLS brokers not seeing much seasonal slowdown, say buyers still need to be bold

Historically soggy weather and the onset of holidays did not deter thousands of buyers and sellers during November, based on the latest report from NWMLS. Numbers for new listings, pending sales, and closed sales were comparable to year-ago totals, while prices rose a little more than 15%.

"The so-called seasonal slowdown normally sees serious buyers gain an advantage over casual buyers who take a break during the holidays. The difference this year is that there are fewer buyers taking a break and demand remains high," reported Mike Larson, managing broker at Compass in Tacoma.

Northwest MLS figures show 8,571 pending sales across 26 counties last month, nearly matching the year-ago total of 8,584 mutually accepted offers. The 8,976 closed sales marked a slight improvement on twelve months ago when MLS members tallied 8,875 completed transactions (up 1.14%).

Gardner commented on recent adjustments in Federal Housing Finance Agency (FHFA) limits for conforming loans (mortgages backed by Fannie Mae or Freddie Mac), which included a record 18% jump in most markets, but also an increase from $776,250 to $891,250 in the higher-cost tri-county area encompassing King, Pierce and Snohomish counties. "I anticipate this will be a further boost to more expensive markets."

https://www.nwmls.com/News--Information/page/Northwest-MLS-brokers-not-seeing-much-seasonal-slowdown-say-buyers-still-need-to-be-bold

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