The pace of the equestrian home market has accelerated during the pandemic, driven in large part by a desire for more space.


First Quarter Equestrian Home
Market Update

Horse properties are selling quickly, and prices are on the rise in all counties.  Despite the frenzied pace of the real estate market, it’s important to note that the underlying fundamentals of the market remain solid.  Housing demand continues to outpace supply nationwide with just two months of available inventory (compared to 11 months of inventory in 2007).  Strict lending guidelines have helped keep mortgage default risk low, and home equity levels are extremely high.  41% of Washington State homeowners have at least 50% equity in their homes.  Taken altogether, these factors make a 2008-style market correction unlikely.

69 equestrian properties were sold in the first quarter of 2021 in Pierce, King, Kitsap and Thurston counties – a whopping 30% increase in sales activity when compared to the first quarter of 2020.

Current Market Conditions

    • We saw a drop in existing home sales nationwide from January to February of this year, but February sales numbers were still 9% higher than they were in February of 2020.


    • February home sales over $1 million were up 81% nationwide compared to February of last year, making housing affordability an increasing concern.


    • 74% of homes listed for sale nationwide went from active to pending in less than a month.


  • Windermere Chief Economist Matthew Gardner predicts that 30-year fixed rates will rise above 3.5% by the fourth quarter of this year and will crest 4% in early 2022.  Rate increases may help to slow rising home prices by diminishing buyer purchasing power.

Because of the unique considerations involved in buying or selling a horse property, relying on a Realtor with real world equestrian experience makes good sense.  If you’re thinking about buying or selling a horse property in the Puget Sound area, please give me a call to discuss how I can put my knowledge and experience to work for you.

Jeff Williams

Jeff Williams has been riding and showing American Quarter Horses since childhood and is a top-producing Realtor with Windermere Chambers Bay, specializing in equestrian property sales in King, Pierce, Kitsap and Thurston counties.

Jeff Williams: (253) 303-1135

Contact Jeff Williams

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