Blog

04/24/2015

Seattle: A Seller’s Market

Real estate database company Zillow reports Seattle as the nation’s #4 strongest sellers’ market. Trailing behind San Jose, San Francisco, and Denver, Seattle’s real estate inventory is at a record low. Current listings are predicted to support only 2.2 months of sales.

Factors considered to determine rankings were inventory, likelihood of a price-cut, sale price in relation to listing price, and bargaining power.

Economists are making early predictions that the red-hot market will continue for at least the next three years at an average rate of 4.3% value increase/year.

As a buyer in this competitive market, you need an agent with tenure, skill and proven results. Homes are often being bid over value with multiple offers and escalation clauses. Let your broker maximize your buying power within your budget. Turn to Evan for a competitive advantage in this booming market.

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Data pulled from Zillow and Seattle PI.