Happy Monday! itβs time for our weekly market update covering Gig Harbor, Tacoma & Seattle 
.
Some commentary before we begin 
Sellers β We are still seeing multiple offer scenarios if the home is properly staged, priced right and aggressively marketed. Case in point, we listed a home last week that received 4 offers 
in 4 days and is now pending above list price. All the while similar homes in the area have been sitting for 30+ days β it matters who you list with! 
Buyers β Many home shoppers have been pushed away because of higher mortgage rates. While this is totally understandable, it is creating opportunity (far less competition) for those and want to get in now and refinance when rates drop 
in the future.
Letβs take a look at the market 
Mortgage Rates β 30 year rates were up from 7.24% to 7.48%.
Days on Market β the time it takes for a New Listing to go Pending is still remarkably fast.
Days on Market
Gig Harbor: 17, up from 13
Tacoma: 27, up from 12
Seattle: 20, down from 25
List to Sales Price Ratios β on average homes are selling slightly under list price.
List to Sales Price
Gig Harbor: 96.6% ~$33k under list price
Tacoma: 99.0% ~$5k under list price
Seattle: 99.9% ~$2k under list price
Are you ready to talk real estate? Donβt hesitate to DM, text or call us. See the link in our bio for more info.
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