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March 2021

Found 3 blog entries for March 2021.

The median home sale price increased 16% year-over-year to $331,590 – an all-time high, per a report this week from Redfin. But that’s not stopping buyers from snatching up homes days after they’re listed.

During a four-week period ending March 21 and covering 400 metros, 58% of homes that went under contract had an accepted offer within the first two weeks on the market. And between March 14 and March 21, 61% of homes sold in that timeframe had been on the market two weeks or less, and 48% had sold in one week or less.

And offers are coming in well-above asking price, too. Nearly 40% of homes sold above their list price – another all-time high – and 15 percentage points higher year-over-year. The average sale-to-list price ratio, which measures how

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  • Mortgage rates bounced higher again this week, making homebuying even more expensive at the start of the all-important spring market.
  • With home prices skyrocketing, any rise in rates knocks even more potential buyers out of the running, and yet somehow the housing market is more competitive than ever.

Mortgage rates bounced higher again this week, making homebuying even more expensive at the start of the all-important spring market.

With home prices skyrocketing, any rise in rates knocks even more potential buyers out of the running, and yet somehow the housing market is more competitive than ever.

The average rate on the 30-year fixed mortgage hit its last low of 2.75% at the end of January, and has since climbed pretty steadily,

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February saw one of the snowiest days on record in the Seattle area, with people in some areas waking up during Valentine's Day weekend to nearly a foot outside their windows.

But, even with the weather, the Puget Sound region housing market didn't let up, according to the February report from Northwest Multiple Listing Service.

“It’s amazing how close the February numbers are when compared to February 2020, which was, of course, right before our world changed,” said Mike Grady, president and CEO of Coldwell Banker Bain. "Despite our similarly lousy February weather, the data shows that the market continues to be hot, with residential inventory very tight and median prices rising by double digits across most of our counties.”

In King County in

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