Photo: Mark Moz
It's no surprise to us to hear that bidding wars are alive and well all around King County. The Seattle Times waded into the battle zone to find out exactly why almost 40% of King & Snohomish County homes sold from April to June did so higher than asking price.
What they found was that the homes most likely to get involved in a bidding war were selling for less than $350K. They also called out Sand Point, Seaview, Bellevue & Remond as the most likely places to see a single-family home be under contract in less than a week. In fact, 56% of all Bellevue home sales in that time period were above list price. That number drops to 49% in Seattle and 39% in Seattle Metro. The areas most unlikely to be in the middle of a bidding war were found in South King County or Snohomish County.
Check out their interactive tool for more info and make sure you know the six things homebuyers can do to win a bidding war.
· Home-price bidding wars flare across many neighborhoods [Seattle Times]
· Six Things Homebuyers Can Do To Win A Bidding War [CS]
· All Bidding Wars coverage [CS]