Market Updates March 1, 2021

Weekly Market Update

Friday afternoon with some blue skies peaking through has me 😍 !
Another sleepy week of new listings so let’s look at some numbers I pulled for my monthly email newsletter that just hit 📥 inboxes today…
transactions that closed over the last 7 days and most likely went pending after the first of the year are recording very favorable results for sellers. For example, in Bellingham {after taking out 2 outliers to get a more accurate baseline}, there were 6 closed sales from 2/18/21 to 2/24/21 with average days on market at 9 days and a 102.2% list-to-sale price ratio. Tight inventory and motivated buyers are creating these results. As we head into spring, we expect to see more homes come to market which could soften these escalations. Does that mean prices will drop? NOPE- but hopefully they will increase at a slower rate!
Now tell me, how are you going to enjoy the partly ☀️ tomorrow?