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Seattle Homes Selling BELOW List Price

Posted by Johnine Larsen on November 5, 2018
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The average Seattle-area home is selling BELOW LIST PRICE for the first time in four years! Buyers, rejoice!

…but not too much.

First, more about the good news. Across Seattle and the surrounding metro areas, the average house is selling for 0.6 percent below its list price. Compare that to last May, when homes in Seattle were selling for 6.3 percent above the list price, and you can see a clear reason to get excited.

This also accompanies a decrease in list price. Last month, home prices in Seattle fell more than anywhere else in the country. In hard numbers, listing prices have dropped a whopping 7 percent ($55,000) since last spring. The median King County house now costs $668,000. The Snohomish County median house costs $485,000, and the Pierce County median house costs $353,000. Minus 0.6 percent, of course!

For buyers and sellers, these changes mean fewer bidding wars, slower sales, and fewer waived inspections. This is a very welcome relief for buyers, who have faced all sorts of stress and frustration these past four years as they’ve watched prices climb and climb, and as they’ve been outbidded time and time again in multiple-offer scenarios.

Okay, that sounds great, right? Buyers can finally find houses! Seattle’s getting more affordable!

Well, not quite.

Annually, housing costs are still rising in Seattle. They just aren’t rising as fast. Things are improving for buyers, but the market is only dropping down to what a normal real estate market looks like. Dropping, but not there yet. In fact, Seattle home prices in 2018 have risen 9.6%, compared to the national average of 5.8%.

So buyers, you should celebrate, but not recklessly. Buying a house is still a major decision, filled with risks and complications. The best option: talk to us. We’ll educate you about the housing market, look at your goals and financial situation, and recommend homes that fit you. We’re on your side. This work isn’t about the money—it’s about community.

  • Brian Heagler
    Brian Heagler
    16:55 02 Jun 19
    I have worked with Johnine and her team for 19 years and have always received personal, knowledgeable and professional service and attention! There is never and pressure and they will guide you away from a property when appropriate, which is always appreciated when a market is hot and the tendency is to move quickly. I trust them and have never been let down!
    Anne Slater
    Anne Slater
    18:03 25 May 19
    Johnine Larsen is fabulous! She listened and came up with ways we could get what we wanted in a house and stay within our limited budget. When we found the house we wanted, she moved super fast to get the house inspected and implemented creative ideas to make our offer appealing. And out of 13 offers, we were selected and got our house. I recommend her to anyone buying a home.
    Amy Burdick
    Amy Burdick
    19:13 24 May 19
    Real Estate Gals made sure we found our perfect house! Then, when we were up against other bidders, Johnine worked tirelessly to ensure we were tops! Her extensive real estate experience combined with exceptional character and integrity provided peace of mind throughout the process. She also made sure we received the right value as a seller and got the transaction done quickly and efficiently. Simply stated: there is nobody better to help you find your dream home.
    Bill Hollman
    Bill Hollman
    22:21 19 May 19
    I'd give Real Estate Gals 6 stars if I could. We have used them multiple times, both in selling and buying homes in Seattle and the surrounding area. I can't say enough about the professionalism, knowledge, and patience they bring to the task of buying a new home, or selling your current residence. And they know the Seattle area so well, they'll offer valuable insights into the pros and cons of any location you may be to considering. Look no further, call Johnine at Real Estate Gals. You will be glad you did!
    Beth Guerra
    Beth Guerra
    01:14 18 May 19
    Johnine was a breath of fresh air in the real estate market. She listened intently to our wishes and goals, and was tireless in her search for our perfect house. She is well versed in both Seattle and the surrounding areas. She made sure all the details were taken care of after the inspection, and made the closing process seamless. She even gifted us with a housewarming present. Nearly 7 years later, we still receive holiday cards and well wishes. I highly recommend Real Estate Gals and will look no further in the future.
    Aidan Key
    Aidan Key
    15:44 17 May 19
    Johnine and the Real Estate Gals brilliantly took us through the home buying process two different times. Their willingness to educate (I was new), hear our home hopes, and support us through the process are a few of the reasons that I highly recommend this team. Speaking of a team, I love their collaborative business model - it meant that we--the home buyers--always had a returned phone call and an ability to look at a house on OUR schedule. Truly felt like they place the customer first!
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