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Stats by Kat: King County Housing Market Update Welcome to this week’s Stats by Kat, your trusted source for the latest King County housing market insights. These numbers are fresh, and the market is moving fast—let’s break it down. Market Inventory & New Listings King County’s housing inventory continues to tighten, now sitting at just 0.8 months of supply, reinforcing a highly competitive seller’s market. Last week, 465 new listings hit the market—however buyer demand is currently outpacing supply. Offer Review Trends Sellers are strategically setting Offer Review Dates (ORDs), with 51% opting for this approach to maximize competition. Multiple Offers & Contingencies The latest NWMLS data (March 1–12) highlights Pending Data for recently accepted offers: · 46% of pending homes received multiple offers. · 31% of accepted offers included an Inspection Contingency. · 55% included a Financing Addendum. How Fast Are Homes Selling? If you’re a seller, the market is in your favor. Recent data shows: · 63% of homes listed between Feb 23 – Mar 1 went under contract within 7 days. · 67% of homes listed between Feb 9 – Feb 22 were under contract within 14 days. · 76% of sellers accepted offers within 30 days (based on closed sales). For homes that recently closed, the average days on market was 28 days, while the median was just 6 days—proving that well-prepared, competitively priced homes are selling fast. What This Means for Sellers & Buyers The King County market remains highly competitive, with strong buyer demand and multiple offers still the norm for the most well-prepared homes. Sellers: Demand remains high, and prices are rising. Strategic pricing, strong marketing, and setting an Offer Review Date can lead to multiple offers and optimal results. Buyers: Be ready to move quickly and present strong, competitive offers to stand out. If you're considering buying or selling, let's create a winning strategy for you. Reach out today to get started! @Dan Mellis