Over 37% Of Seattle Area Homes Take a Price Drop In Past 30 Days
In King County the number of homes for sale surged up 66% in the past year — and 86 percent just in the city of Seattle — the biggest rise in more than a decade.
Meanwhile, the share of homes with price drops has been posting year-over-year gains consistently since late March. Currently in just the past 30 days starting with September the 26th, 37.2% of Seattle area homes taken a price drop totaling the largest percentage in more than a decade for this statistic as well.
Note: “We define a price drop as a listing price reduction of more than 1 percent and less than 50 percent.”
After years of strong price growth and intense competition for homes, buyers are taking advantage
This year’s market is not the same as it was last year at this time. Here in the Greater Seattle Area, a region renowned for extreme inventory shortages, short days on the market, multiple offers and contracts way over asking price, everything has suddenly changed.
Everything, that is, except seller expectations.
How do you manage clients when the market suddenly develops into something they had not anticipated? Here are our top 10 recommendations for managing seller expectations when the market enters a correction.
Just over half an hour from Seattle, and closer still to major tech corporate campuses in Redmond and Bellevue, Sammamish attracts many of the people who work for Microsoft, Amazon, Expedia and other tech giants. The homes are pricey here, but average salaries are high too: Median family income is roughly $165,000, more than twice the median for the other spots MONEY analyzed. The current average list price for a single family residence in Sammamish is $1,227,275.
With an official motto of "Building Community Together," the city of Sammamish in King County, Washington, is as friendly as it gets. The unemployment rate is a low 5%, and the city's crime rate is approximately 90% lower than the national average.
Sure, apps are convenient, but buyers need the personal experience and expertise of a real estate agent, too.
Why work with a real estate agent in this internet filled world we live in? Let me put it this way: You could do a Google search for “Paris” but what if one of your good friends has been to Paris say, 20 times over the last few years? Isn’t it good to get advice from both? Sometimes the internet can be overwhelming with facts and data, and the use of a good reliable real estate agent can help you decipher which facts are the most important for you to know. Also, it’s one thing to see a property online, it’s another to stand in it physically and really get a feel for how big the space is, how much light it’s getting, and how close the
House-hunters in Western Washington can choose from the largest supply of homes in three years.
New statistics from the MLS show prices appear to be moderating.
King County Housing Inventory has a 74.3 percent increase.
Mutually accepted contracts drop 14.8% as buyers adjust to more options.
For Buyers: “This is the best time in three years to be aggressive in the marketplace”
KIRKLAND, Washington (September 7, 2018) – House-hunters in Western Washington can choose from the largest supply of homes in three years, and they are facing fewer bidding wars, according to officials from Northwest Multiple Listing Service.
New statistics from the MLS show prices appear to be moderating (up about 6.7 percent overall), but brokers
Other brokerages are inconsistent with their commission rates...
With The Cascade Team, you will always know what you are getting!!!
Getting the most for your home or property means doing more than putting a "For Sale" sign out front. In a competitive market where new homes for sale are added daily, your listing needs to be seen in a variety of places in order to stand out. And sometimes the right buyer is waiting out of state, or even in another country. To ensure sure your home gets noticed and sells without a hitch for full market value, consider working with a top professional. It could mean the difference between no sale, and the payoff you've been waiting for.
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