This is a monthly contribution to the PhinneyWood Blog by Greenwood realtor Doron Weisbarth
Early buds of the spring real estate market began appearing in our PhinneyWood neighborhood in January. By February, the signs were unmistakable. New listings increased, more homes went pending, closed sales rose, and median prices took a healthy leap upward. At the same time, the average number of days homes stayed on the market dropped sharply — a clear signal that buyers are actively competing for the homes coming onto the market.
In other words, the familiar spring pattern appears to be unfolding once again.
You can find all the latest data and the full analysis online—go to PhinneyWoodHomes.com.
But there’s an important caveat: the numbers we’re seeing reflect activity from just before the latest round of global disruptions that pushed energy costs sharply higher, sent the stock market lower, and introduced a fresh wave of uncertainty. Mortgage interest rates briefly dipped below the 6% mark at the end of February before climbing back up again.
How — if at all — these developments will affect our real estate market locally remains to be seen. In the past, our market has proven remarkably resilient even through inflation spikes, rising interest rates, and other disruptions. Still, there are never guarantees. The next few months will be very revealing.
If you’re thinking about buying or selling this year, early in the cycle is often when the best opportunities appear. Call Doron at 206-779-9808 for a no-obligation consultation and a smart strategy for the months ahead.