Real Estate Stats Feb 2018 King Snohomish And Pierce Counties

Real Estate Stats Feb 2018 King Snohomish And Pierce Counties

Hi Y'all,


I know how much you all love the numbers so let's take a look at what is happening in King, Snohomish and Pierce counties.


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Why you should care about these stats: For most folks your home is your biggest investment/asset. Many people refer to houses as a "forced" savings account.  Do you keep track of your 401k? Stock portfolio? Your house is the same thing: an investment. Knowing what your home is worth and what you owe allows you to evaluate your net worth and your position of wealth. Want to renovate your kitchen? Take that dream vacation? Pay off a car? The equity in your house can help. 


The bottom line is all of these counties saw double digits increases in median price year to year and have less than one month's inventory. Still strongly a seller's market and as long as people keep moving here, jobs continue to grow and the economy remains strong these conditions will continue.


AND inventories remain very low. All three counties have less than 1 months inventory. A normal market/balanced market should have 4-6 months inventory.


With demand still high and inventory low we will continue to see prices rise. 


Are you a frustrated buyer or scared to jump into the market after hearing about bidding wars and people losing house after house to cash buyers? DON'T BE!!!  It's a great time to buy and the honest truth is each month you wait, the more expensive houses will be. 


You just need to hire the right agent!


Think about it this way....If you had bought a home last February 2017 for $325k in Pierce county your house would be worth roughly 16.4% more or $378,300. THAT'S $50,000+ OF EQUITY IN ONE YEAR!  Now this is based on the median increase. Specific areas and homes may have a higher or lower gain BUT THEY ALL HAD GAINS! 


Afraid you won't find your dream home? You may not and that's a real possibility but even if you wind up buying a house that requires a little elbow grease and a lot of love you are still building wealth and that elbow grease and love can gain you even more equity. 


If you haven't noticed by now I'm passionate about home ownership and about studying my trade so I can best help my clients. 


At the very least let's have a conversation and get you one step closer to home ownership.


Want stats for your specific area? Hit me up!


Cheers,


John


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John Franklin Headshot
Author:
Phone: 425-320-6684
Dated: March 27th 2018
Views: 389
About John: John brings a wealth of knowledge from the sales, construction and project management fields. We tre...

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