Ready to Sell Your Seattle Home? Now is the Time!

It would be an understatement to say that things have changed in the past six months. Your home turned into your office, school, gym, 24-7 diner, yoga studio, and arcade. As you re-invent your new normal at home, it may become glaringly obvious that you've actually outgrown your space and that it’s time to start shopping for a new home.

If that sounds familiar, you might be wondering if now is a good time to sell your Seattle home—we are in the middle of pandemic, after all. Well, it turns out that it’s actually a great time to sell, and here’s why.

Reason 1: Single Family Home Inventory is Low

Seattle is experiencing a single-family home inventory crunch right now. Despite the decrease in inventory, pending and closed sales are actually up. Buyers are out there looking for homes, and we’re seeing bidding wars in Seattle’s neighborhoods. Homes for sale in West Seattle, Ballard, Columbia City, Mt. Baker, and Seward Park are often selling for more.

Neighborhoods like Burien, Normandy Park, Sea-Tac, and Tukwila are attracting city dwellers and surprising home sellers with multiple offers.

In fact, our summer selling season was strong despite restrictions put in place to navigate everyone’s safety during the pandemic. Sweet Living agents are using the latest COVID protocols and are adhering to local guidelines so we can safely market and show your home right now. Virtual showings have become in demand. We can show buyers your home without them stepping foot in it!

We expect the market to remain strong even as we head into the colder months of the year, which are traditionally slower. There’s no slowdown in sight!

Reason 2: Home Prices are Up

Home prices are up around the country, and nowhere is that truer than in the Seattle area. King County homes hit an all-time high of $753,600 in September. That’s up 14% over last September! With current market conditions, most sellers in the area can get top dollar for their homes.

It’s hard to believe, but asking prices are actually even higher now than they were before the pandemic.

Reason 3: Interest Rates are Down, Fueling Demand

You might think that low interest rates don’t have an effect on whether or not it’s a good time to sell your home, but they do.

Interest rates are historically low right now. This means that buyers can borrow more money to purchase a home. One of the reasons demand in our market is so high is that they can borrow money inexpensively. In fact, we’re seeing buyers enter the market when they haven’t been willing to do so before, in part because interest rates are so good right now.

Plus, if you’re looking to buy a new home with more space, those low rates will help you as a buyer, too (more on that below).

Buy and Sell Your Seattle Home at the Same Time

With the single-family inventory at a low, if you’re thinking of trading city life for one of Seattle’s suburban areas, you might consider securing that new home before listing your current home. It can be tricky to buy and sell at the same time when inventory is low and demand is high.

So, how do you make this happen? Given the current market, many Seattle-area homes have good equity. With interest rates at all-time lows, some of our sellers have opted to pull cash out of their existing homes in order to buy their next home.

The advantages to this are that sellers can:

·      Make a non-contingent offer on the home they're buying

·      Secure a home prior to selling

·      Move out of their home prior to selling, which allows for optimal staging

·      Sell quickly and maximize profits

This gives you the best possible chance of buying and selling seamlessly. But if this doesn’t feel like a good option for you, give us a call! We’ll do everything we can to help you pull off buying and selling at the same time without a hitch.

Ready to Get Started?

The first step toward selling your home is understanding what your home is worth, and we've made that part easy. Get a FREE Home Valuation Report within minutes by visiting our website here. There’s no obligation and no cost—just great information that will help you take the next step in selling your home.

If you’re ready to sell, give us a call at (206) 353-7625. We know what makes your home sell—how it’s priced, how it shows, and how it’s marketed. When you work with us, you get agents who use the best tools and technology to sell your property for the most amount of money in the least amount of time.

Our goal is for you to relax and know that every little detail is taken care of.