NOW is ABSOLUTELY the best time!
We all know that home sellers have had the upper hand for several years, but those days are behind us, and though the market has slowed, there are still buyers out there. The difference now is that higher mortgage rates and lower affordability are limiting how much buyers can pay for a home.
Because of this, I expect listing prices to pull back further in the coming year, which will make accurate pricing more important than ever when selling a home.
In Seattle I expect somewhere between 9 and 15% continued drop. (That’s around 1% per month but still much less than we saw in many cases last year.)
“As a side note remember we saw some areas literally increase by 100% in a single year during the pandemic. This is just getting things back to normal”
For the overall greater Seattle area, home list prices rose 40.6% in just over two years’ time
So, a 10%, 15%, or even 20% drop over a two-year span isn’t as significant as it might seem at first. We are just adjusting back to where they would have been if we had maintained the “Normal” 5-8% appreciation considered sustainable.
NOW is ABSOLUTELY the best time!
We are expecting an “Inverse Curve” this spring. That means along with higher rates than we have seen over the past few years, and continued worries of recession, home sellers are going to be hit with raising levels of inventory… And more competition means LOWER prices.
When is the best time to list your home if you want to maximize your investment?
People who listened last year made Hundreds of Thousands more than those that didn’t. I doubt that waiting for school to end is worth the $200,000 less in sales price than listing just 2 months earlier would have produced.
NOW is ABSOLUTELY the best time!
Currently Sammamish is averaging 121 days on market with 82% of listed homes having already done a price reduction.
If you list the first week of February that means you should sell around the end of May and Close in late June just as school gets out.
So, if you are timing for school… The time is NOW!
