Photo: Pallspera
Here's the dilemma for sellers in the local housing market that's currently seeing huge dips in home sales as well as available inventory. You can sell right now and you'll probably be the big winner of a bidding war, but you might not be able to find a new house when the sale is done.
The April median price of single-family homes in King County was $430,500, up 7.6 % from a year ago. However, home sales are down over 20% over the last two quarters and King County home listings are closing in on the record low set in March 2013.
Good news for buyers is that the market appears to be slowly but surely tipping their way, though the idea that we could see things completely move into their favor still feels a ways off. In the meantime, sellers need to be ready with a place to go and buyers need to be ready to pull out all the stops.
· No thaw in home inventory despite April's rising prices [Seattle Times]
· Seattle area residential real estate is a Catch-22, Realtors say [PSBJ]
· April Saw Little Change in Seattle's Market [Seattle Bubble]