Should I wait to buy a home? is the market going down?

We get these questions from buyers every day. The answer is a definitive NO! While some homes are sitting on the market a couple of extra days, there's little effect on overall pricing. The National Association of Realtors is predicting the market to continue to raise prices in 2022, albeit at a slower rate than 2021. 

The big news, but not old news, is that few homes are available for sale anywhere. Compared to Dec 2020, King, Snohomish, and Island County home inventory is down, 67%, 46%, and 48%, respectively.

Snohomish County leads the way with steady price increases with a 4.6% increase in the average price for a single-family home from November to December and an 8.2% increase in price for a condo.

December 2021 Snohomish Residential Market Report

King County has maintained an average sales price of over $1M for the past half-hear.

December 2021 King County Residential Market Report

Island County sees the most fluctuation in price.  December prices experienced sharp decreases, but that has more to do with the low sample size and seasonal factors than the overall health of the market. 

December 2021 Island County Residential Market Report
Posted by RE/MAX Town Center on

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