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King & Surrounding Counties – it is a seller’s market right now!

July 5, 2012  /  Home Buying  /  Marti Reeder

According to NWREporter, home inventory in King County is very tight right now. Coupled with record-low mortgage rates, competition to buy the few homes on the market is fierce. Buyers want “move in ready” homes. If you are a seller, this is great news.

In the south end, homes priced between $300,000-350,000 and under are going quickly. In Seattle, homes priced at or below $500,000 are selling like hot cakes, and in the north end, homes between $300,000 and $350,000 are popular – with many receiving multiple offers. This competition for homes is particularly high in areas near job centers. Right now five counties in the state – King, Kitsap, Pierce, Snohomish and Thurston Counties – have less than four months of inventory for sale. In a balanced market, the standard measure is five to six months. In other words, there are not enough homes to go around.

If you are even thinking about selling your home, or know someone who is, contact me right away. The sooner I can offer advice on getting your home “market ready,” the better chance you’ll have of taking advantage of this great opportunity!

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