Why King County still has a seller’s market and what that means for you.
What’s happening in our local real estate market? Are we seeing a housing bubble, and what should you do with your home? It can be hard to know what the best choice is for your family, especially with all the headlines. I totally understand. I’ve been an agent for over nine years, and I can help you navigate this market. Let’s look at the data to see what conditions mean for you.
According to real estate experts, if we have six or fewer months of inventory, we’re in a seller’s market. It’s all about supply and demand; when there’s a limited supply, like right now, prices go up.
In Kirkland, we had 81 active homes, the active time to sell was only five days, and the average sales price was 7% over the list price in March. All these stats show that it’s a strong seller’s market.
What about Bellevue? In Bellevue, we had 99 active homes, and homes sold after an average of five days in March, which shows that Bellevue is also a strong seller’s market.
In King County, we have very low inventory and strong buyer demand. It’s a great time to sell because we’re still experiencing plenty of bidding wars.
Feel free to call or email my team at no cost for a hassle-free strategy session. I look forward to hearing from you.