Extreme Real Estate Market Continues
As we start heading toward the first of the year, the housing market intensity for each new listing will start tightening back up again in Whatcom County. Approximately two months of good selection and availability of new listings remain in the local market before the winter market arrives.
In Whatcom County, the market is virtually sold out of homes priced up to $1 million. Homes priced up to $500,000 have predominantly uber-frenzy Sales Activity Intensity;™ this range comprises 47 percent of sales activity. Sales Activity Intensity™ is predominantly extreme frenzy from $500,000 to $1 million and surge from $1 to $1.5 million. There is strong luxury buyer activity above $1.5 million.
ALL ABOUT SALES ACTIVITY INTENSITY™
Sales Activity Intensity™ is the measurement of the market intensity created by John L. Scott Real Estate. It’s a scale you’ll find above that looks at what percentage of new listings are going pending in the first 30 days. The higher the Sales Activity Intensity,™ the hotter the real estate market.
Two factors inform Sales Activity Intensity:™ the number of unsold homes on the market, and buyer demand. In the fall and especially over the winter, Sales Activity Intensity™ will increase, as there will be fewer new listings during this period when the backlog of buyers demand remains strong.
For more: http://whatcom.johnlscotthousingupdate.com/p/1
For more stats per city: https://heatherstevenson.johnlscott.com/real-estate-statistics-for-whatcom-county
For Bellingham stats and neighborhood videos: https://heatherstevenson.johnlscott.com/bellingham-real-estate-statistics
John L Scott Real Estate