Hi, I’m Doron Weisbarth with Weisbarth & Associates, and welcome to my February 2025 Market Update! As the new year takes hold, both buyers and sellers are coming out of the cold and jumping back into the real estate market. Now, we know this tends to happen every year after that December slowdown—but this year might be a bit different. Maybe. Possibly. We track a series of markers, and so far, the pattern appears mostly predictable. If you’re looking to buy, you’re going to have more options, as the number of new listings took a big jump compared to last year. And if you’re looking to sell, you’re likely to find plenty of eager buyers ready to compete, provided, of course, that your home is properly priced and marketed. So the big question, in my opinion, is whether prices are going to increase rapidly, moderately, or just gradually. Of course, it’s still too early in the year to say with any certainty, but we’re keeping a close eye on the numbers that should emerge in the next month or two. Let’s take a look at these graphs to see what’s going on in the market. What you’re looking at is a graph displaying New Listings and Pending Sales for single-family homes in King County. You can clearly see the annual pattern that we’ve talked about many times before in this vlog. The new year always brings lots of new buyers to the market, while sellers are slower to join the party. I’ve added vertical BLACK lines on each January to help make the trends clearer. And to help you see more clearly what’s going on in the market right now, I’ve drawn a horizontal dotted BLUE line to show how the number of New Listings in January 2025 compares to the past few January, and the same thing with a dotted ORANGE line for the number of Pending Sales. What you’ll notice is that January’s number of new listings is higher than any January we’ve seen in the previous three years—almost on par with January 2021, which was a real boom year. So it appears that this might be more than just the usual new year uptick in activity. By the way, if you want to look at this data and read my report at your pace and leisure, you’ll find all this information in my February newsletter, available online and for download, for free, at Weisbarth.com/Newsletter , that’s Weisbarth.com/Newsletter . Now, you may have correctly sense this hesitation in my voice earlier. The fourth quarter of 2024 saw some of the slowest activity levels we’ve experienced in many years, in fact, I don’t remember a weaker fourth quarter since we’ve emerged from the great recession of 2007, 8 and 9. I, and many others, believe that this slow activity was largely due to the uncertainty around the election. There’s that old saying in psychology that a confused mind will do nothing. Well guess what – a lot of people, buyer and sellers, were stuck in a very confused mind. So, that low activity might have built up a groundswell of pent-up demand—and pent-up supply—that’s now asserting itself in 2025. It will be very interesting to see how the activity in February (fingers crossed the snow doesn’t get in the way) and March unfolds. Now, it is possible that we’re emerging from an even broader slump that’s lasted for more than two years now. In the past two years we’ve seen the market overall activity drop considerably, for a variety of reasons. One big reason was that many sellers were reluctant to put their homes on the market and give up those wonderful low mortgage interest rates. But sooner or later some people will need to move, whether for family reasons, jobs, or other life events. So with time we’re likely to see more of those reluctant sellers make their moves. And with more inventory we’ll see more overall market activity. One thing’s for sure: if you’re ready to sell now, buyers are out in force, and sales are on the rise. We’re back to homes getting offers more quickly after listing, and multiple offers that push prices higher above the asking price. So, if you or someone you know is considering making a move this year, let’s put together a custom strategy that’s tailored to your home and your unique needs. Our 5-step system lays out a clear plan that has proven itself in a variety of market conditions, to get sellers the best results. You can reach out to me by email, or on my website. The best way to reach me is by phone at 206-779-9808. And we still offer our no-obligation consultation, so you can talk to us and make your choice without pressure. By the way, if you’re a buyer, we also have a great plan for you, our 3-step system, and again – no obligations, just reach out and let’s talk. And as always, a big plug to Akin, the local organization that helps take care of kids and families in need. We, at Weisbarth & Associates, are huge fans of this amazing organization, and we donate a substantial amount from every sale to help the kids and families in need. So your business your referral make a direct, positive impact on the good people at Akin. Here’s to another successful year in real estate! Thanks for tuning in—don’t forget to like, subscribe, and follow for more updates, and be sure to check out my monthly newsletter at Weisbarth.com/newsletter . I’m Doron Weisbarth with Weisbarth & Associates, and I’ll see you next time!