April Market Stats are HERE!
Let’s start with Bellevue and the Eastside!
I recently turned down a condo listing in downtown Bellevue because the seller was unwilling to price the condo at market value… this is happening a lot! After educating him on the market statistics and showing him that the exact same floor plan as his had just sold for $500,000, he still insisted on listing at $650,000. Overpricing never results in a stress free sale, it takes lots of extra time and price reductions, making the selling process disappointing and it ultimately results in a lower net profit for the seller or they just take if off the market all together.
And now to Seattle!
I listed a condo in Queen Anne last week that received multiple offers, it sold above the listed price and we even negotiated a 30 day FREE rent back for the seller giving her time to find her new home. The condo market overall is moving much slower than the housing market giving buyers lots to choose from. It’s more important than ever to price your property correctly from the very start.
The theme right now seems to be caution. Buyers and sellers are less emotional than we have seen over the past few years and are now more analytical about their housing decisions.
If you’d like the specifics for your neighborhood, please don’t hesitate to call, text or email me today!
Graphs are created by Windermere Real Estate/East Inc. using NWMLS data, but information was not verified or published by NWMLS