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Washington's housing market has been booming in recent years, with home prices soaring to unprecedented heights. If you own a home in the Northwest, you may be wondering if now is a good time to sell. The answer is yes, and here's why.
Low Inventory
Washington's housing market is experiencing a severe shortage of homes for sale. According to the Northwest Multiple Listing Service, there were only 1,193 active listings in Seattle in February 2023, down 38.5% from the same time last year. With so few homes on the market, there is a lot of competition among buyers, which can drive up prices and result in multiple offers on a single property.
High Demand
Seattle is a popular destination for people moving to the Pacific Northwest, whether it be for job opportunities, the city's natural beauty, or its thriving tech industry. With a growing population and a limited supply of homes, demand for housing in Seattle is high. This means that if you put your house on the market right now, you're likely to get a lot of interest from potential buyers.
High Home Values
The Puget Sound housing market has seen incredible growth in recent years, with home values increasing at a steady pace. According to Zillow, the median home value in Seattle is currently $951,284, an increase of 12.8% over the past year. This means that if you sell your home now, you're likely to get a high price for it.
In summary, if you're a homeowner in Washington State and you're thinking about selling your home, now is a great time to do so. With low inventory, high demand, & high home values, you're likely to get a lot of interest from potential buyers and a great price for your property. So, if you're ready to make a move, contact me and I will help you get started.
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