Well spring is in the air! The golf season is upon us, baseball is around the corner, and yes spring home sales are teeing off as well. The warm temps, sunshine, and early blooms have the market moving a little earlier than usual however it remains as competitive as ever, lots of buyers but still not quite enough inventory for all of them. While we are seeing more properties pop up, the competition remains, so you better make sure you have an "A" player on your team! You have to be in it to win it.
Here are some numbers as well as some quotes from my PMB (Principal Managing Broker) he is also a director on the MLS (Multiple Listing Service) here in Washington.
Here are some numbers as well as some quotes from my PMB (Principal Managing Broker) he is also a director on the MLS (Multiple Listing Service) here in Washington.
Northwest MLS figures show pending sales system-wide surged 18.7 percent in February compared to the same month a year ago, rising from 7,247 mutually accepted offers to 8,599. Twenty of the 23 counties in the service area reported double-digit increases in pending sales.
Those numbers might be even higher given the ample supply of buyers, but inventory is far from ample.
John Deely, principal managing broker at Coldwell Banker Bain, also commented on the imbalanced market. “The early spring weather has brought a bumper crop of buyers to a market experiencing a drought of listings.” The MLS director said activity in Seattle continues to move “at the fastest pace in memory.” It is not uncommon for weekend open houses to draw upwards of 100 group visits and bidding competitions, he reported.”Multiple offers rule the day, with many bids at 20 percent over well-priced properties around Greater Seattle.”
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