Real Estate Sales Marched Through March on Seattle’s Eastside

It's a pretty crazy real estate market out there on Seattle's eastside.  The fever pitch of the real estate market is running high right now.  Buyers and their agents are having to be far more creative with their offers to be the buyer who wins the house.  Pre-inspections are the norm, something that has been very common place in Seattle's market.  Buyers are willing to bring more money to the table if needed to make a sale happen.  Many listing agents are holding offer review, often for a week, to give good exposure to a home.  Buyers then have an opportunity to look at the home more than one time, pre-inspect if they so choose, and plan their offer strategy.   It's a competitive market, but it gives an opportunity for a buyer to make a more educated decision.

Appraisers are having to be more creative to find comparable sales to demonstrate value.  However, it's often hard to dispute the value of sales simply because there are so many mulitiple offers.  it's not just one buyer who steps up to the plate to buy a house, it's usually a number of buyers.   I've heard of all kinds of numbers of buyers bidding on one house, 3, 5, 7, 9, and on.

So how was real estate in March on Seattle's eastside?  Median pricing was just up over $600,000, only the second time in years, and I mean years.  Homes sold briskly as  71% of the available homes sold last month with an average market time of 54 days. If no other homes had come up on the market, it would have only taken a month and a half to sell off all the inventory of homes.  As I said, there is a fever pitch to the real estate market.

If you'd like more information about the real estate market and the value of your home, con't hesitate to contact us.