Tuesday, May 24, 2016

Seattle Market Update

Exciting week for buyers this week!  Inventory increased at its quickest pace this year adding 54 homes, or 8.39% to the overall stock of homes for sale within Seattle City Limits!  Prices and Days on the Market also moved sideways this past week for the first time in a long time.  It’s still a highly competitive market out there, but at least it’s not becoming MORE competitive.  If you have buyers who got frustrated and took a small sabbatical from house hunting, now might be a good time for them to take another look. 

In other news, great article in the Seattle Times last week…and no, I’m not talking about the one where we need another zip code (564) because there are too many people moving to Washington and not enough phone numbers to go around - I’m talking about the “Million-dollar-home count triples across Seattle area in 4 years” one.  The headline says it all, but the story is full of great housing stats including comparisons between the current Seattle housing market and California’s (ie. Despite going from 2.5% to 7% of all homes being worth at least $1m in the Seattle region in the last four years; California still has it worse – In San Francisco 57% of all homes are worth at least $1m). 

Happy Investing!

Today's blog post courtesy of Kyle Bergquist, Guild Mortgage

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