UPDATES FROM
ZACH

Here are my latest thoughts on the Seattle Real Estate Market: The Seattle real estate market median sales price has leveled off in the past few months but still remains record-high. In November, we saw considerably more homes come on the market than usual for this time of year, but it was still almost half the amount that came on the market from the month before. This looks like a backlog of homes selling that would usually sell during the springtime in a normal year. Pending and closed sales have increased as well and are even higher than in the springtimes of 2018 and 2019! Overall, inventory remains low at a little over one month of supply. Typically homes sell below the asking price this time of year, but this year homes are selling above the asking price. Applications are that inventory is super low and there isn't enough supply for the current demand of buyers. For sellers, it seems there has never been a better time to sell with so many buyers and high sales prices. For buyers, interest rates continue to remain low and fuel the market.

Here are my latest thoughts on the Seattle Real Estate Market: The Seattle real estate market is continuing to go against the "seasonal slow down" trend with the same median sales prices we typically see in the spring when the market is at its hottest. In the counties I serve, King and Snohomish County, we normally see fewer listings in October, November, and December. However, we are seeing an increase in listings coming on the market and more and more people are buying and competing in bidding wars. What this means for buyers and sellers, is that we are in a competitive real estate market. With continued lower interest rates, buyers are able to buy considerably more house, upgrade, or even purchase a better house for their first home. For sellers, your house most likely will sell within one to two weeks when priced correctly for the market.

Here are my latest thoughts on the Seattle Real Estate Market: The Seattle real estate market had a high median sales price in September but dropped slightly since August. We continue to see high median sales prices that we would normally see during the springtime. There are a lot more listings on the market than in previous years, but overall, fewer homes for sale because pending sales increased dramatically. This means there will be many closed sales in the coming months. Due to the continued low mortgage rates more people have decided to make moves in the market, including refinancing or selling/buying. For sellers, competition is heating up and for buyers, there continues to be an opportunity to capitalize on the low mortgage rates.

The Seattle real estate market is competitive! As a buyer, how do you get set up for success in a competitive real estate market? 1) Be prepared - Learn more about the home buying process. My YouTube channel is a great resource for this! Additionally, get your financing in order. 2) Be patient - Look for the right opportunities 3) Be persistent, continue moving forward, and stay the course 4) Be creative - Door knocking, sending letters, handwritten cards, etc. Thinking about buying or selling a home in Seattle soon?

The Seattle real estate market set a record high median sales price in August 2020! Despite all of the current events, we continue to see record-high home values. The average home sold above asking price. There are a large number of homes coming onto the market and they're quickly being snatched up by buyers, so inventory remains low and the market continues to be highly competitive. Mortgage rates are still very low, which means homes are more affordable than ever.