Although Seattle is still faced with higher demand than we have listings for, things changed just a little bit last month. As you can see from the chart right which shows Seattle’s inventory of single family residences, the number of homes for sale exceeded July of 2015 by more than a marginal amount.
Of course, the number of pending listings still remained very high, and about at the same level as the amount of inventory (see second chart below). But could this give Seattle the breathing room it needs to move to a non-frenzied market? Only time will tell, but in the meantime, here are some things sellers need to keep in mind:
- Pricing it right when the listing hits the market is critical. There is no room to wait and see, hoping that a buyer will be desperate and buy an overpriced home. If demand for your home is high, buyers will naturally drive the price up via multiple offers.
- Your home must photograph well and be showtime ready. Buyers aren’t going to buy just any home. Taking the time to do a little polishing will pay back. Hiring an agent who specializes in high end photography and coordinates staging is the ticket. Take a closer look at how I expect your home to shine in the market: http://www.seattlehomeguy.com/home-staging/
- Spruce up the landscaping and the greenery for curb appeal. A buyer may drive by your house before an official viewing and this time of year is very hard on landscaping. Lawns go into hibernation, everything gets a little dusty and dirty from a lack of rain, and perennials may be past their bloom. Take some time and get those issues cleaned up.
This is still a great time to be a seller, perhaps even more so because although we may have a little less demand, demand is still high (which is good for your house price) but you may have an easier time buying a home if you are staying in Seattle. Remember, interest rates are still very low (3.43% as of August 25, 2016 – wow!) which spells opportunity as you are securing a new loan.
Questions? Give me a call or send an email: Steve Laevastu, your Seattle Home Guy: (206) 226-5300 or firstname.lastname@example.org.