We are finding ourselves in a "perfect storm" scenario for anyone considering selling their home. With home prices on the rise and a steady decline in inventory, now is a great time to sell your home. Demand is higher than ever! Lots of people are flooding into the greater Seattle area with all the incredible job opportunities we have right now. Incomes are rising and people are looking to invest in real estate.
Furthermore, home prices in King, Snohomish & Pierce counties saw a year over year gain of 12.7%. This is double the percentage gain of 20 other major metros around the US.
Unfortunately for would-be buyers, the inventory is really tight right now. Across home markets, inventory has dropped an average of 23% from the end of 2016 to the end of 2017. Buyers are having to submit multiple offers on various homes and just aren't seeing a lot of options. People who would normally look for a "trade up" home for a growing family are simply staying in their homes, which also stunts inventory. Home owners are choosing to hold on to their properties as the value rises, but it won't keep rising forever.
If you are interested in benefitting from this opportunity, give Sound Properties a call! We'd love to walk you through the selling process and see you thrive.
Check out the Case-Shiller Index for more information on the nation's real estate market.