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Key Market Indicators – August Recap 2021
Skagit County Housing Update - Resale Only
As we start heading toward the first of the year, the local housing market intensity for each new listing will start tightening back up again. Approximately two months of good selection and availability of new listings remain before the winter market arrives.
Fall demand is expected to maintain steady due to the large backlog of buyers still looking to purchase a home.
Frenzy Real Estate Market Continues
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.
2.92%
Unbelievable Interest Rates
Source: Mortgage News Daily
Average % of
New Listings (Pending)
in the First 30 Days
45%
Current
Normal
70%
Current
30%
Normal
Tap to enlarge and zoom
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.