It’s Memorial Day weekend and the start of summer in Seattle. Students are readying for graduations. Outdoorsy types are dusting off the camping equipment. Gardeners are putting out tomatoes. And as the spring home selling season wraps up, sellers have been enjoying SOLD signs that go up just days after their homes hit the market!
It’s no secret that the Seattle real estate market this year to date has been a wild ride, with insatiable buyer demand outpacing the number of homes available for sale. Everyone likes to talk about houses – their own, their neighbors’, or the Property Brothers’ flips on HGTV. Skyrocketing prices, multiple offers, waived inspections, all cash deals – is this the “new normal” in Seattle?
Do you know what your Seattle home is worth today?
Whether you are ready to sell your home or just curious about its current value, I can help you. No strings attached.
Yes, simple economics tells us that when there is a high demand for a thing, and not enough of the thing to go around, the thing will become more valuable with more people trying to get it. And so goes the 2016 Seattle housing market. In West Seattle, where I specialize, there have been about the same number of homes listing and selling each month as there were last year. But there’s just not enough to go around! Demand has continued to outpace the supply, with multiple offers on almost every home pushing median price appreciation into double digits in just the first 5 months of the year.
What does this mean for your home value in YOUR neighborhood? As of today, here’s a little snapshot of how median prices have appreciated this year to date, by zip code, in West Seattle and a few other select areas.
||% Appreciation YTD
|Ballard / Greenlake
|Burien / North Hill
With the real estate picture in Seattle changing so rapidly, your home is probably worth more than you think it is. I provide an expert, data-driven, up to date market analysis of your West Seattle, Alki Beach, or Greater Seattle home. Always free, Always no-obligation, and Always accurate. Contact me at any time to schedule a personalized consultation.