This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
February’s market activity in our PhinneyWood neighborhood has picked up on all levels. We saw more new listings, more home pending, and more homes sold. The number of days that homes took to sell dropped precipitously, from 26 days in January, to a mere 6 days in February. The buyers are clearly engaged very strongly, as we see more multiple offers and more homes selling above asking prices. It seems that the spring sale is upon us.
You can find all the latest data and the full analysis online go to PhinneyWoodHomes.com.
One segment of the market that seems to have almost disappeared are new construction homes. According to the National Association of Builders, tariffs and construction labor shortages are going to impact the number of new housing starts and the final cost of new construction homes, and many builders are taking a wait and see approach. Our region is already far behind on housing needs, so this might have a strong impact on overall supply, causing prices to increase faster than normal.
Are you considering buying or selling a home this year, but feeling confused about if and what to do next? Then call me for a no-obligation consultation, and let’s figure out what would be the best plan for you. You can reach me at 206-779-9808.
