In my August 2017 Short Report where we are going to discuss what is happening in the local real estate market here in Seattle and on the Eastside. Inventory continues to be low and prices continue to escalate. Are we headed for a bubble? Watch to find out!
We’ve been seeing an increase of homes coming on the market lately but they are also going at a faster rate. In fact, we are currently looking at the lowest inventory on record with only a 0.6 month’s supply on the Eastside. This has transferred into an higher median closed sales price increase of about 20% compared to last year. Find out more by watching the video below:
While we finally saw an increase in new listings in March, there was an even greater jump in sales. Lack of supply continued to push prices to new record highs. For the 5th straight month, our region has experienced the sharpest home price increases of any major market in the country. Find out more by watching below:
In this months Short Report we discuss a new technology for marketing homes called Matterport. This 3D technology is only the first of technologies for virtual home tours that we are currently using to help our clients sell homes. We also will discuss the current market inventory and pricing trends.