Market Update from Seattle

Hi, everyone! Today, we’ll discuss market conditions in the Seattle area.

In September, the average asking price was $633,000 in Seattle; $230,000 in Tacoma; $342,000 in Everett; and $953,000 in Bellevue. Likewise, the average sold price was $646,000 in Seattle; $228,000 in Tacoma; $335,000 in Everett; and $953,000 in Bellevue. It is still a seller’s market, but it’s slowing down!

The number one reason why people don’t move to Western Washington is the home price. However, there is an exception: high-tech industry home buyers find Seattle very affordable.

The average time it took to sell in Seattle took 23 days; in Tacoma took 46 days; in Everett took 32 days; and in Bellevue took 25 days. On average, people live in their homes five to seven years before moving.

If you have any questions about what these numbers mean for you, please don't hesitate to reach out to us. We're always here to be your real estate resource!

Are You Ready to Buy a Home?

Buying a home is a serious step. One common mistake buyers and sellers make is not being emotionally prepared to make an offer on a home.
Some buyers can spend a couple of years getting their finances in order. Then they get their loan approved and look at homes with a real estate agent. Finally, they find the house of their dreams, and what happens? They want to sleep on it, or pray on it, or get a family member's opinion before they make on offer.

The reality is that in this market, if you snooze, you lose. Correctly priced properties are just flying off the market. You have to be emotionally prepared to make that decision and make an offer. Look at homes on Tuesdays, Wednesdays and Thursdays if you are ready to make an offer. Weekends are the worst time to make an offer because a lot of other buyers are out there and you are almost guaranteed to wind up in a multiple offer situation.

If you have any questions, please do not hesitate to reach out to me. I would be happy to help you.