While it remains a seller’s market and home prices continue to rise, the intensity of the housing market has cooled. New listings that would have yielded 15-20 showings in the spring are only seeing 5-10 showings in the current market. Instead of five or six offers, new listings are now more likely to generate one or two.
This market slowdown was the subject of a recent report from iBuying giant Opendoor, which indicated that almost 40% of potential homebuyers have put their housing search on hold. The most common reasons cited were persistent concerns about COVID-19 and feeling overwhelmed by the frenzied pace of the housing market. We expect many of these buyers will return to the market by early 2022, if not before, but the pace of the housing market will be more measured than it has been.
127 equestrian properties were sold in Pierce, King, Kitsap and Thurston counties in the third quarter of 2021 – a 13% increase in sales activity when compared to the third quarter of last year.
Horse properties have been selling very quickly – in less than 2-3 weeks on average.
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.