The Seattle Area Market: Latest Trends

Happy holidays to one and all! Before we end 2017, I’d like to provide an update on the local market based on what I’m seeing. We’ve had a bit of a rollercoaster ride this year in the Seattle area! Depending on what your next move might be, check out the following summary, and pertinent articles, to keep yourself in the know this holiday season.

Seattle Area Market Trends

  1. Buying: The market has evened out a bit so buyers have more of an edge. As you may have noticed this year, we have had a pretty big influx of newcomers to the Seattle area. Here’s an interesting article comparing Seattle to the other major west coast Tech Hub, San Francisco: Seattle Might Be the Next San Francisco, and inventory is still low. Overall, it may take a while to find what you’re looking for, but you can expect fewer bidding wars and more opportunity to get concessions from sellers. You shouldn’t have to worry about prices skyrocketing while you’re looking either.
  2. Selling: If you’re thinking of selling your home you can still expect to sell in a reasonably short period. Demand is still high if you are priced well. Always discuss with your professional realtor the best way to market the property. Don’t make the fatal mistake of pricing out of the market! Check out Zillow’s recent home price forecast for Seattle this next year Zillow’s Value Assessment for Seattle (5.6% growth as compared to 14.1% this past year).
  3. Refinancing: If you’re wondering if it makes sense for you, please call. Lowering the term of your loan, or getting cash out have been the most popular refinances this year. With the great increase in equity we’ve experienced, coupled with low interest rates, you couldn’t pick a better time. Call me if I can help you or someone you know. Your refinance analysis is always free!
Home for the holidays