Seattle’s housing market has seen sellers retain the upper hand as we head deeper into the spring buying season, and Zillow reports that Seattle comes in at #4 on the list of top sellers' markets across the country. The top five all fall west of the Mississippi, with San Jose, Calif. occupying the top spot, followed by San Francisco, Denver, and Dallas-Fort Worth just behind Seattle at #5. Zillow analyzed how likely homes were to have a price cut, and how much homes are selling for in relation to their list price. Inventory in the Seattle area is at a record low of 2.2 months’ worth, and as any potential buyer is likely to tell you, extremely high demand means stiff competition and minimal bargaining power.
Sellers’ advantage doesn’t stop at the Seattle city limits – rounding out the top five sellers’ markets in the Puget Sound region are Bothell, Duvall, Bellevue, and Lake Forest Park, according to the PSBJ. Those looking for a little more negotiating room might try Gig Harbor, Graham, University Place, Parkland, or Lakewood.
With economists predicting home prices to rise for the next three years – another 5 percent by the end of 2015 and 4 percent in 2016 and 2017 – it appears that Seattle’s red hot market is going to continue to burn for the foreseeable future. If you are interested in listing your home, contact your local real estate agent today.
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