What a Week - Seattle Real Estate Market is Moving Along

Taking a break from the usual statistical analysis, I thought I'd give my own anecdotal evidence of the momentum in the Seattle real estate market (read: opinion). This past week I've had more emails, phone calls, and appointments than any time since the November "end of tax credit crunch". Spring always gets the market moving, but it feels like we just jumped on to the treadmill at full speed.

I had a couple of great days at an open house in Wallingford, with potential buyers, looky-loos, and neighborhood walkers constantly in and out. Lots of folks are asking questions about the $8000 and $6500 tax credits (hey're available for a contract signed by April 30), and whether or not it applies to their situation.

I've had two sets of young buyers in the North End in multiple-offer situations three to four times already, finally getting under contract on near-full-price offers with closing costs concessions. Homes under $300k are still moving quickly, and the inventories are low.

There have been quite a few more inquiries in the Seattle luxury homes market lately, too. Most of these buyers are looking for a bargain-as they should be. The luxury and waterfront real estate markets have really been battered for a couple of years now, and sellers have really started getting realistic about price reductions. I've gotten to preview and visit with clients all over this week, including a beautiful new construction home on Lake Washington in Medina, two modern homes in Sand Point and Inverness, waterfront in Cedar Park and Leschi, as well as traditional luxury in the Highlands and Woodway.

I imagine when the sun really comes out that we'll be picking up the pace a bit more in the short term. A lot of people in Greater Seattle have been sitting on the sidelines for a couple of years, and they may be jumping off the fence.

 

 

Sam DeBord and Brian Wiegand
SeattleHome.com - Washington State Realty - (206) 658-3225
Real Estate Brokers, Realtors, Green Certified Pros