Happy holidays! Despite winter and the Covid wave we are experiencing, real estate remains a strong and steady beacon of economic hope during these times.
All stats below are based on End of Month in October vs November:
Homes on the market – 6,160 vs 4,539 (down 26%)
New homes on the market – 7,658 vs 4,568 (down 40%!)
Homes sold – 7,610 vs 6,317 (down 17%)
Record low inventory in Seattle leads to prices staying high. Prices remained near the all time high for Median Prices, coming in at $550,000. To put into perspective how strong the Seattle market has been despite a tumultuous year, look no further than the Median Price in January of 2020 which was a staggering $80k lower at $470,000.
Christopher’s Market Forecast for the first 3 months of 2021? Expect low inventory to continue causing a shortage in supply while sellers and buyers gear up for what looks to be a big Spring.
Best advice for sellers right now?
If you’re a seller, get your home listed as quickly as you can. Demand is sky-high and inventory is dropping even further as the seasonal lull compounds the existing inventory constraints we’ve seen all year. Don’t wait for Spring, when new homes will start to increase again. List now for the best chance to sell for the best price.
Additionally here are a few blogs that might help you as a seller:
Best advice for buyers right now?
If you’re a buyer, consider working with your agent to identify homes that came off the market in the last 30 days. Most of these homes will likely come back in early 2021, and our team of agents are poised to help you identify these houses before they come back on the market in the hopes of submitting a strong enough offer that entices the seller to agree to terms without going back on the market.
Additionally here are a few blogs that might help you as a buyer:
When you hire Trelora, you pay just 1% to sell your home. You’ll also get best-in-class customer service, and a team of expert agents who close hundreds of deals per year. And keep in mind, especially if you’re moving or you have friends in other states, that Trelora can help you in Atlanta, Charleston, Charlotte, Denver, Los Angeles, Phoenix, Raleigh, Sacramento, Seattle and Tucson. In the meantime, please stay healthy and safe.
Director of Operations
Sold over 1,000 homes
Christopher has been been in the Real Estate industry for 8 years and has had the opportunity to close over 1,000 deals while acting as the Managing Broker for thousands more. Christopher is passionate about continuing to find ways to simplify, maximize, and serve Trelora’s clients exceptionally well and spends his time building teams to deliver high levels of service. When not doing real estate Christopher can be seen training for marathons and ultra relays with his 2 year old daughter, eating pizza, and drinking a steady stream of Diet Coke.