With home prices in the city back to 2007 levels, inventory 43% lower than last year and interest rates at record lows we are back to a sellers market!
The buyers are scrambling to get into this market! A home in city that is priced right and taken care of is getting multiple offers and going over asking price. LOVE letters (as we call them) are back where buyers are writing letters to persuade the sellers to take their offer on their home. While the prices are not escalating to the levels we saw in 2007 which at times were 20-30% over asking they are still escalating close to 10-15% above asking with no contingencies.
If you are seeing a home sitting out there it is because it is priced too high….flat out! The market always determines the price and it is no time for sellers to get greedy. Key into what buyers are saying about your property and adjust accordingly and you should have a sold strip on your for sale sign in no time!
If you are considering selling in the near future do so before the spring rush where there are more homes out there to compete with!
We are so lucky to live in THRIVING Seattle!