Seattle area prices rising during pandemic

Posted by Victor Lozada on Tuesday, August 11th, 2020 at 10:21am

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The Seattle Times was out with an article with the latest on the Seattle market and how pricing is still rising during the pandemic. I found this was particularly interesting:

Homes in the King, Pierce and Snohomish tri-county area saw average year-over-year price increases of 6.8% in May, according to the new release of the S&P CoreLogic Case-Shiller Home Price Index — the sixth consecutive month Seattle-area price growth has topped national averages.

This is not surprising. We are seeing good homes in popular locations selling fast, often with multiple offers. Inventory of homes for buyers to choose from is still tight. Buyers who are ready to make a move and want to learn how to beat the competition should check out our plan here.

Still, some seller’s overshoot on price in this market and see extended market times. These homes tend to sell after a price reduction, or accepting an offer negotiated below asking price. Sellers looking to avoid this experience should check out our marketing plan and schedule a consultation today.

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