The Seattle Real Estate Market Analysis For April 2020
COVID-19 has affected the market this month but not as much as we may have expected. Even with the market virtually shutting down for about 3 days we are not seeing much dip in market activity.
Our commitment to our clients is that we will take every precaution to ensure your safety. We can all agree that buying and selling a house is a major decision in our lives, however it pales in comparison to our health and our families health.
We ask that you bare with us as we try to figure this out. Things are changing everyday and we are doing everything in our power to stay current and compliant.
We have had to modify the way we operate our services, meetings, and the way we interact with our clients and each other as real estate professionals.
Read About How We Are Navigating Business with COVID-19
Along with taking extra precautions we are focusing on delivering Virtual Real Estate Services.
A few things that really stuck out to me as I was compiling the Seattle Housing Market stats.
The Average Sales Price Rocketed up $81,665 to $831,491
- Average Number of Days on Market slid down 16 days to 27 days
- Percentage of Sold Price to List Price rose 1.9% to 102.5%
- Seattle remains in a housing shortage with just 1 months supply of inventory
- There were more New Listings, Pending Sales and Closed Sales this month than las
What that story tells me is
Despite the COVID-19 Crisis buyers are still hungry for new listings.
With still amazingly low interest rates, and a low level inventory the last couple of years the Seattle real estate market should remain in the surge to frenzy status for the foreseeable future.
If you are selling the average sales price is at all time highs, and 72% of homes are selling in the first 30 days.
If you are buying the interest rates have never been lower and this is typically the time of year when more listings start coming on the market.
There are 3 important steps you should take to get ready to buy.
Position yourself to create a buyer advantage when competing with other buyers and walk in confidence when making an offer.
The Madrona Group can consult with you to be:
- Up-to-date with current market intensity and pricing
- Get pre-approved or fully underwritten through a lender,
- Receive email/text notification of newly listed properties
In today’s instant-response market, it’s key to ensure you’re ready to act when the timing is right.
TO READ OUR FULL REPORT PLEASE VISIT: https://www.themadronagroup.com/seattle-housing-market-report/