Market Insights: October 2020
In luxury real estate, October was a hot market. JayMarc had four homes go pending and two homes closed. We are also seeing interest in presale and custom homes continue to increase. The option to personalize or totally customize your home is popular due to more people working from home and the current stay-at-home lifestyle. In the custom home market, purchasing land is VERY competitive on the Eastside, especially in Bellevue. In King County, Net Pending Sales and Inventory are neck to neck. The 2020 real estate market is looking to finish strong and competitive. View Alan L. Pope Market Cycle.
"Mortgage rates hit another record low, the twelfth time this year, due to economic and political ambiguity. Despite the uncertainty that we've all experienced this year, the housing market, buoyed by low rates, continues to be a bright spot." (Source: Freddie Mac)
To learn more about JayMarc's Presale Program, reach out to our New Home Specialist Team HERE.
Looking to build custom? Join us every week for our free Custom Home Master Class Series webinars. View upcoming webinar topics HERE.