Housing Inventory is Increasingly Tight
According to a recent article at King5.com, housing inventory in Seattle continues to drop, and experts predicts that we’ll see 20.1% fewer homes on the market in 2018 than we did in 2017. The median home price last year increased 12.5% to $468,000, with more than half of the homes listed for sale going to more than the list price. And while you can still find less expensive housing outside of the city, buyers will still need to anticipate competitive offer situations and be prepared for worsening commute times.
What does this mean for buyers? Strategy and careful planning are going to be critical to a successful home purchase. If you are thinking about buying a home this year, let us know. We will sit down with you and help craft a strategic game plan so that you are fully prepared to compete in this seller’s market.