May PhinneyWood Housing Market Snapshot

by | May 22, 2024

This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth

While our beautiful spring weather might seem elusive at times, the real estate spring sale is in full blossom in our PhinneyWood neighborhood. New listings are up by nearly 80% compared to last year, and single-family home (SFH) prices have surpassed last year’s high mark.  The most remarkable part is that all this activity comes despite the high mortgage interest rates that we’ve had since the beginning of April.

Check out all the date and the full analysis online at PhinneyWoodHomes.com

The big question is what will happen next. Historically, the number of new listings and, by extension, the market activity, tended to peak around May and June every year. Last year’s overall low market activity levels created strong pent-up demand and supply that started to bubble over earlier this year. So, it will be interesting to see whether the market forces that create the historical trends will prevail again this year, or whether there is still enough momentum built up in that pent-up demand and supply to extend the strong market activity deeper into the summer.

Want to take advantage of our strong market conditions to buy or sell a home? Call Doron for a free, no-obligation consultation on how to get the most from your transaction. You can reach him at 206-779-9808.

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