What to Know About the Seattle Market in 2021

Here’s some advice for sellers in the Seattle real estate market.

The spring market is already here and it’s red-hot. A question I’ve been hearing a lot is, “What’s the best way to sell right now?” You have a lot of options, but my advice is to give it some time when you do list your home. Don’t just take the first offer you receive, even if it’s a good one.

There are a lot of agents out there bragging about selling homes on the very first day. It’s great that they sold the house, but if they sold on day one to the first buyer, what was left on the table? 

For example, last night I listed a property at 8 p.m. By 4 p.m. the next afternoon, we had over 50 showings lined up. The stories I’m hearing from other agents out there are that they’re seeing 75 to 150 showings in that four- to six-day window after a home hits the market. I’ve never seen anything like this in my career. 

The market is being driven by three things:

1. Low interest rates. Money has never been cheaper.

2. Low inventory. If you’re on the market, you’re probably the only home in your neighborhood that is for sale.

3. High buyer demand. People are coming back to the area for their tech jobs in the Seattle area and they have money to spend.

If you want to take the first offer, that’s your prerogative. However if you want the highest and best offer possible, list it and put an offer review date on it about six to seven days after you list so you give buyers the opportunity to come in and compete.

If you have any questions about buying or selling a home, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.