Thinking of Selling Your Home? Do it TODAY!
/If you are considering selling your home- the time is now.
Although that headline might seem a little forward, the reports on the 2017 housing market have begun to roll in, and all of the results point to an incredible seller's market.
The formula is simple: Home supply is not meeting the demand. The most significant challenge the Seattle real estate market is facing right now is a severe lack of inventory. A stable housing market would have a full six-month supply of homes for sale. Currently, there is less than a four-month supply of inventory.
“List it, and they will come” is the new mantra as new listings come on the market, commented J. Lennox Scott, chairman, and CEO of John L. Scott.
Properties are moving through the market at a remarkably fast pace. Not surprisingly given the imbalance in supply and demand, home prices are also continuing to rise.
The median price for single-family homes sold in King County last month was $525,000, up more than 6.9 % from the year-ago sales price of $490,970. Several outlying counties reported double-digit gains. King County condo prices rose more than 9.8%, from $282,250 to $310,000.
6 Reasons to sell your home now:
- Homes are selling quicker than ever.
- Due to low inventory, buyers are willing to turn a blind eye to repairs and future maintenance.
- Home prices are continuing to rise.
- Investors are willing to pay cash for a home.
- Mortgage rates are remaining low, enticing home buyers.
- Many homes are getting multiple offers.
Bottom Line
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home.
Contact me today to get your home on the market and sold.
