October real estate market snapshot
Posted October 7, 2022 at 12:52 pm by Jeff Arnim
The Simonson and Zambrovitz Team at Coldwell Banker San Juan Island send along their real estate market snapshot for the island. For the first time in years, the supply of for-sale single-family homes is expanding quickly. Compare the snapshot above to similar data from seven months ago, when there were zero for-sale homes under $600,000 and just four under $1 million.
“Further, as the market is trending slower, sellers are now allowing more offer contingencies as compared to last year,” Merri Ann Simonson says.
The average interest rate for a 30-year fixed mortgage is an ominous 6.66 percent this week, up from 2.99 percent a year ago today.
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