If you’ve been thinking about selling your home, but haven’t decided yet, consider this. We are currently in a seller’s market. Typically, the real estate market has 6 months of home inventory available. However, whenever inventory dips below 6 months, it is considered a seller’s market. According to the latest Existing Home Sales Report, there is only a 4.2 month supply available.
This morning’s Seattle Times shows that Seattle has led the country in home price growth for the seventh straight month, and in Seattle, 90 percent of homes sold in the last two months have been involved in a bidding war, reports Redfin. When a bidding war occurs, prospective buyers put their best offer forward, many times above the home’s asking price.
Still not sure? Call Team Marti today. We’d be happy to review your situation and explain your options and the current real estate market in South King County.