Will Seattle Remain a Strong Seller’s Market?
We have been experiencing a strong Seller’s Market here in Seattle recently. A few questions that we are getting from our clients are:
Will our market keep up it’s current pace in the Seller’s favor?
Will this cause a crash like in 2008?
Will the results of our new political climate cause a crash?
In this video, we dive into what is currently happening in our real estate market, and what experts predict for the future. If you’ve been considering selling your home but aren’t sure if it’s the right time, give us a call and we can help guide you on what makes the most financial sense for you and your home at this time.
If you’re curious what your home is worth in the 2021 Real Estate Market, click here.
We will email you a free Market Analysis Report for your home.
𝐴𝑛𝑑 𝑎𝑠 𝑎𝑙𝑤𝑎𝑦𝑠, 𝑖𝑓 𝑦𝑜𝑢 ℎ𝑎𝑣𝑒 𝑎𝑛𝑦 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒 𝑞𝑢𝑒𝑠𝑡𝑖𝑜𝑛𝑠, 𝑓𝑒𝑒𝑙 𝑓𝑟𝑒𝑒 𝑡𝑜 𝑐𝑎𝑙𝑙/𝑡𝑒𝑥𝑡 𝑢𝑠 𝑎𝑛𝑦 𝑡𝑖𝑚𝑒! 𝑊𝑒’𝑟𝑒 𝑎𝑙𝑤𝑎𝑦𝑠 ℎ𝑒𝑟𝑒 𝑡𝑜 ℎ𝑒𝑙𝑝!
Steve 📲 (c) 206-769-9577 📧stevehill@windermere.com
Sandra 📲 (c) 206-271-7100 📧sbrenner@windermere.com
Can our local real estate market keep up its pace in the seller’s favor? And will this cause a crash like in 2008? Is the election going to cause a crash? We continue to get these questions over and over from people, and the bottom line is that no one has the answers. But what I can do is let you know what is happening right now in our real estate market. Many homes that are selling in Northwest Seattle are selling quickly for or at above asking price. Why is this happening? Well, let’s dive into it.
Hi, I’m Steve Hill with Sandra Brenner with the BrennerHill Team at Windermere Real Estate. What we do know is that, just as predicted from real estate experts and advisors earlier in the year, that we would a V-shaped recovery, which means that the market drastically dropped and slowed down when the pandemic hit. But they predicted that once things got back to normal or once our new normal set in, that the housing market would recover. As seen here from this graph from the Housing Market Recovery Index, we see that it has. This index looks at four components from the market: demand, supply, price, and time on market. The index is showing that we are now exceeding levels prior to the pandemic. Data from the Mortgage Bankers Association, Zillow, and The National Association of Realtors shows that leading indicators that determine a strong market like showing times, purchase applications, pending sales, existing home sales, new home sales are all up, indicating that we are in a strong market.
Also, factors like inventory levels for both traditional inventory and new construction are down. We have limited inventory, which again is an indication of a strong market in the favor of sellers. So, although I cannot predict what will happen in the future, just as no one can, what I do know is that right now we are seeing a very strong real estate market.
Feel free to reach out to us at no cost or risk for a hassle-free strategy session. We look forward to hearing from you. We are Steve and Sandra: elevated service, elevated results.
