Seattle Eastside Real Estate Stats for Aug 2012

Continuing with a Seller’s Market for Aug 2012…this is very encouraging news, as the rest of the country has not had this strong of a comeback in the real estate market or this fast.  The rate of market value increases has been slow, but steady.  We’re seeing anywhere from 2-4% increase in market value over this time last year.  Remember, slow and steady wins the race!  Here’s some more

Aug 2012 Seattle RE Stats

facts and data:

•   Months Supply of Inventory              2.1                     -46% change
•   Total Active Listings                           1859                    -33% change
•   Pending (YTD)                                       6837                     22% change
• # of Closed Sales (YTD)                       4746                    19% change

Always available to share/explain this info in detail, so never hesitate to engage me.  Here’s to a very active and solid 4th qtr for our Seattle Real Estate Market!

The Importance of Pricing Your Home to Sell in the Seattle Area

Priced To Sell

How important is pricing your home to sell?  Huge question… So huge, I chose this snowy picture to illustrate a point:  when priced right, you too can sign a Purchase & Sale contract during a snowy holiday…!  It’s the difference between drawing attention to your home from qualified, active buyers to no activity, or so you think.  Consider when you contemplate the purchase of a household appliance and you do your comparative shopping for that item.  You look at all the features, the colors, the upgrades, the attachments, the “things that make your item cool” and weigh that against the price.  Same goes for a house.  Whether it’s area/neighborhood/location/school district, size of lot, size of home, condition of the home/upgrades to the home…all of these things factor into how you price your home.  Your home may be the one that everyone is comparing to as the “overpriced” home…not the attention you want!

So what happens if you realize you’re priced too high…it can be a vicious cycle of chasing the Seattle market.   The chart below will depict this vicious cycle…It’s better to over-correct on your price and let the market react.  Otherwise you can be chasing your tail, so to speak.  The good part of our Seattle market right now is that when you are priced appropriate to the market, you just might see an offer in record time &/or see multiple offers…yes they’re back!

Overprice-Chart

So even though Seattle may be coming out of the “depreciating market”, now is not the time to put your house on the market using 2008  Seattle housing market values.  Our market is seeing a healthy, slow & steady uptick in prices.  That’s good for you and me and the economy…don’t hesitate in contacting me to discuss your particular real estate needs.