Upcoming Spring Market
Happy March!
The arrival of Spring will bring much needed inventory to the market. Old inventory is slowly getting absorbed. Sellers are now beginning to correct pricing, paying extreme attention to presentation and inspection items corrected. Buyers do not want to fix sellers problems. Sellers who don't adhere to top notch presentation are paying for it in low offers. We are also seeing multiple offers again in well presented and priced homes. Recently an $850k home in Seattle went $300K over with 21 offers. So get prepared for Spring! Homes prices are still growing but at a slower pace than past years. It is vital to being sold in 7 days or less in this market.
Buyers will begin to see more competition this spring. As sellers prepare to list, keep in mind that buyers are ready. Open house traffic has picked up with buyers off the fence of waiting. Recently, I held a new construction home in Bellevue open at $3.8M with 160 parties through and it sold in 2 days! Rates came down to 6.74% this week with a move in the right direction. Buyers need to prepare, get underwriting approval with all conditions being met prior to looking for homes. Let me preview homes before you go out ‘looking’. This saves you so much time and energy as we dive deep into what is most important for you upfront. Currently the bulk of inventory selling is from $650-1.4M. The luxury market from $2M-4M is moving faster than usual, especially in new construction. There are many off-market opportunities in this price range available, please ask me.
If you would like to talk real estate, ask any questions to begin your journey of listing or buying, I am available.
Again thank you to all my clients who keep me in my purpose of “Creating A Legacy for Others”
I love my job!
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