What Can Buyers & Sellers Expect From The Housing Market This Winter?
Hello, I’m Falynn Auston, a local realtor and investor based in Gig Harbor, Washington. Here in the Pacific Northwest, our real estate market likes to take its cues from the seasons. The rain and cold slow down the real estate market for the winter months.
1) What can homebuyers expect from the housing market this winter?
Winter in the PNW real estate world tends to be a bit quieter, regardless of the interest rates. Homes tend to hang around a tad longer on the market, pushing into 30 days before getting an offer. Even with longer days on the market, though, if the homes are priced appropriately they are still selling between full asking price and low 90% of the asking price. It is important to note those rare, dream homes—what we like to call unicorns—are still sparking multiple offers. For buyers facing slightly higher interest rates, it’s not uncommon for them to request sellers to cover interest rate buydowns, and closing costs add an element of negotiation to the mix. We are seeing a lot of cash buyers right now, so if you are a financed buyer connect with a local lender that can get you fully underwritten—this will make you a more competitive buyer.
2) What can home sellers expect from the housing market this winter?
For home sellers gearing up for winter in the PNW, there’s a notable silver lining: the buyers out and about during this season are serious about making a move. Unlike the casual browsers that might emerge in other seasons, those navigating the market in the colder months typically have a pressing need to buy. Average days on the market are a little longer, pushing into 30+ days, but the most well-prepared homes are selling faster.
3) Do you have any additional insight or advice for home buyers or sellers?
The buyer pool shrinks during this season, but those who are out there mean business. Life has pushed them into house-hunting mode—be it due to sad circumstances like a loss or a divorce, or simply the practical need to downsize or relocate for work. So, even though it’s not as bustling, the winter real estate scene still has its own rhythm.
Falynn Auston has a can’t stop-won’t stop attitude when it comes to helping you buy or sell your Gig Harbor home. Whether you’re looking for your first home, investment property, or downsizing, she’s there for you every step of the way and is here to arm you with all the information you need to make the best investment decision.
A true neighborhood expert, Falynn will tell you everything you want or need to know about Gig Harbor, from the best breakfast spots to where you can find the best views of the sunset. She knows all the local people and all the local happenings. Her husband, a captain at the South Kitsap Fire Department, and her family are deeply integrated into both communities.