Monday NW Seattle Real Estate Market Update | April 5th, 2021
This week we were surprised to once again see homes going Pending Inspection right after going on the market! This past week there were 4 listings that did this! We discuss details about those homes and reiterate why this is not the best strategy for Sellers.
We recently made a video going into the Pros and Cons of getting a Pre-Inspection before listing your home. SPOILER ALERT: There are no cons!Β
As always we go over the NW Seattle Real Estate housing numbers. We were pleasantly surprised to see the highest numbers of listings come on the market so far in 2021.
If you need more convincing about why you should get a pre-inspection on your home PRIOR to going on the market, check out the video we made on the subject!
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Steve π² (c) 206-769-9577 π§stevehill@windermere.com
Sandra π² (c) 206-271-7100 π§sbrenner@windermere.com
Video Transcript:
Happy Monday, everybody! It’s Week 56 of our Monday Market Update. Hopefully the Easter Bunny was good to you.
So Steve and I wanted to continue our topic of going pending inspection after just a few days on the market. So we were really surprised to see that out of the six homes that went pending inspection in Northwest Seattle last week, four had been on the market for four days or less. Three of them were new construction. And two had been on the market for zero days! Goose egg, zero days. And the other one had been on the market for only one day.
So my question to those sellers is, why would you ever give up all of your negotiating power in the hottest seller’s market that we have ever seen?
Right? Especially builders. We expect builders to be a lot more savvy when it comes to selling.
But don’t let their brokers off the hook. They should be advising them. This is not a market where sellers need to give concessions, and to us, going pending inspection is a huge concession for the buyers.
I 100% agree with that statement. And if you’ve been following us or watching any of our videos, you know that Steve and I are huge, huge advocates of having a full home inspection, including the sewer scope, before you go on the market. This is just one step in our many-step listing process.
We did a whole video on the pros and cons of a pre-listing inspection. And quite frankly, we don’t think there’s any cons. So check out that video. I think you’ll find it really informative.
Let’s get back to chatting about what’s happened this past week in Northwest Seattle. We had 72 new homes come on the market. That is the most homes we’ve had so far this year.
We had 61 homes go pending, which is also the highest number for pendings this year. What is interesting is that 14% of sellers took an early offer. This means buyers were more aggressive last week with their offers.
Right, and we had 52 homes that sold this past week. And what’s really interesting about these sales is that 17% sold below asking price. However, the average sales price was nearly 110% over the list price. 62% of that 52 sold for over asking. But what that 110% tells us is that those homes that sold for over asking really sold for over asking.
Those sellers have gotta be super happy. Thanks for watching everyone. And remember to check out our pre-listing inspection video.
Have a great week!
