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First quarter housing numbers are in! As you might expect, Western Washington continues to be a strong seller’s market and will likely remain so for the foreseeable future. Low interest rates, limited inventory, and pandemic-driven relocations are the biggest factors. Notice how San Juan and Island Counties topped the list for increased sales volume in Q1. Overall, inventory is 40.7% lower and prices are 21.3% higher compared to one year ago. To illustrate how competitive things are, pending sales outpace listings by a ratio of 6:1. This means that demand for homes is incredibly strong and homes get sold fast. Today’s housing market is likely the tightest it has ever been. For the full report, go to: https://www.windermere.com/blog/q1-2021-western-washington-real-estate-market-update
