NW Seattle Real Estate Market Update

๐Ÿค”๐‘ช๐’–๐’“๐’Š๐’๐’–๐’” ๐’˜๐’‰๐’‚๐’• ๐’•๐’‰๐’† ๐‘ต๐‘พ ๐‘บ๐’†๐’‚๐’•๐’•๐’๐’† ๐‘น๐’†๐’‚๐’ ๐‘ฌ๐’”๐’•๐’‚๐’•๐’† ๐‘ด๐’‚๐’“๐’Œ๐’†๐’• ๐Ÿ˜๏ธ ๐’Š๐’” ๐’…๐’๐’Š๐’๐’ˆ ๐’•๐’‰๐’Š๐’” ๐’Ž๐’๐’๐’•๐’‰? ๐‘ณ๐’†๐’• ๐’–๐’”, ๐’š๐’๐’–๐’“ ๐‘ฉ๐’‚๐’๐’๐’‚๐’“๐’… ๐’•๐’ ๐‘ฉ๐’“๐’๐’‚๐’…๐’—๐’Š๐’†๐’˜ ๐’†๐’™๐’‘๐’†๐’“๐’•๐’”, ๐’‡๐’Š๐’๐’ ๐’š๐’๐’– ๐’Š๐’. ๐‘พ๐’†โ€™๐’๐’ ๐’๐’†๐’• ๐’š๐’๐’– ๐’Œ๐’๐’๐’˜ ๐’‰๐’๐’˜ ๐’Ž๐’‚๐’๐’š ๐’‰๐’๐’Ž๐’†๐’” ๐Ÿก ๐’‚๐’“๐’† ๐’„๐’–๐’“๐’“๐’†๐’๐’•๐’๐’š ๐’๐’ ๐’•๐’‰๐’† ๐’Ž๐’‚๐’“๐’Œ๐’†๐’• ๐’‚๐’๐’… ๐’‰๐’๐’˜ ๐’๐’๐’๐’ˆ โฒ๏ธ ๐’•๐’‰๐’†๐’š ๐’‚๐’“๐’† ๐’”๐’•๐’‚๐’š๐’Š๐’๐’ˆ ๐’•๐’‰๐’†๐’“๐’†. ๐‘ป๐’‰๐’Š๐’” ๐’˜๐’Š๐’๐’ ๐’‰๐’†๐’๐’‘ ๐’š๐’๐’– ๐’Ž๐’‚๐’Œ๐’† ๐’Š๐’Ž๐’‘๐’๐’“๐’•๐’‚๐’๐’• ๐’‰๐’๐’Ž๐’† ๐Ÿ…ฑ๐Ÿ†„๐Ÿ†ˆ๐Ÿ…ธ๐Ÿ…ฝ๐Ÿ…ถ ๐’‚๐’๐’… ๐Ÿ†‚๐Ÿ…ด๐Ÿ…ป๐Ÿ…ป๐Ÿ…ธ๐Ÿ…ฝ๐Ÿ…ถ ๐’…๐’†๐’„๐’Š๐’”๐’Š๐’๐’๐’”. ๐Ÿ”‘

Curious about the Seattle real estate market?

Should you wait to buy or sell in Seattle?

Well, letโ€™s take a closer look at whatโ€™s happening in Northwest Seattle. The market has been slowing down for the past 18 months. We are no longer in a hot sellersโ€™ market but more in a balanced market. Let me give you an example of what Iโ€™m talking about. In all of 2019, the average days on market for homes ranging from 650,000 to 850,000 was 29 days. Right now the average days on market for Active homes in the same price range is 58 days. Thatโ€™s almost double. At the time that this video was created, we have 307 active homes for sale in Northwest Seattle. At the beginning of January, we had 170 homes on the market. Thatโ€™s an increase of 80%. So what does this mean? It means that, with more inventory, you need to make sure that your home gets massive marketing exposure, itโ€™s ready and available to show when the buyers want to see it, and that your home is in really good condition. When thereโ€™s more competition, you want to make sure that the carpets are clean or new, the walls are free of scuff marks, and itโ€™s as turnkey as possible.

Remember, Buyers have a lot of other homes to choose from that might look better than yours. Right now in NW Seattle in the $750,000 to $850,000 price range, there are 49 homes to choose from. According to the National Association of Realtors, a buyer typically only looks at 10 homes, so right now, there is 5 times that amount of homes on the market, so youโ€™ve got competition. You will have a much better chance of getting chosen, of buyers wanting to see your property if your marketing is on-point. You want lots of high-quality pictures and video, and your home must be exposed digitally to the masses. Donโ€™t wait for buyers to find you. You need to make sure that your marketing is showing up online where the buyers are actually looking. That way, you can sell your house, even with more competition. But keep in mind, itโ€™s still is going to take a lot longer than normal, so be prepared.

๐ด๐‘›๐‘‘ ๐‘Ž๐‘  ๐‘Ž๐‘™๐‘ค๐‘Ž๐‘ฆ๐‘ , ๐‘–๐‘“ ๐‘ฆ๐‘œ๐‘ข โ„Ž๐‘Ž๐‘ฃ๐‘’ ๐‘Ž๐‘›๐‘ฆ ๐‘Ž๐‘‘๐‘‘๐‘–๐‘ก๐‘–๐‘œ๐‘›๐‘Ž๐‘™ ๐‘Ÿ๐‘’๐‘Ž๐‘™ ๐‘’๐‘ ๐‘ก๐‘Ž๐‘ก๐‘’ ๐‘Ÿ๐‘’๐‘™๐‘Ž๐‘ก๐‘’๐‘‘ ๐‘ž๐‘ข๐‘’๐‘ ๐‘ก๐‘–๐‘œ๐‘›๐‘ , ๐‘“๐‘’๐‘’๐‘™ ๐‘“๐‘Ÿ๐‘’๐‘’ ๐‘ก๐‘œ ๐‘๐‘Ž๐‘™๐‘™/๐‘ก๐‘’๐‘ฅ๐‘ก ๐‘ข๐‘  ๐‘Ž๐‘›๐‘ฆ ๐‘ก๐‘–๐‘š๐‘’! ๐‘Š๐‘’โ€™๐‘Ÿ๐‘’ ๐‘Ž๐‘™๐‘ค๐‘Ž๐‘ฆ๐‘  โ„Ž๐‘’๐‘Ÿ๐‘’ ๐‘ก๐‘œ โ„Ž๐‘’๐‘™๐‘! ๐Ÿ“ฑ (๐Ÿฎ๐Ÿฌ๐Ÿฒ) ๐Ÿฎ๐Ÿณ๐Ÿญ-๐Ÿณ๐Ÿญ๐Ÿฌ๐Ÿฌ

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