We're into the second week of March, and the housing market in the Greater Puget Sound area is already red hot. Allen and I have hosted multiple open houses over the last few weekends and have seen more groups tour properties than they usually do - a good indicator that buyers are out and the market is becoming more competitive. Despite the Coronavirus fears, the market is still chugging along and many sellers are finding themselves in the middle of bidding wars. From our perspective, it seems the primary driver of this surge is a lack of inventory.
Spring is generally the hottest time of year for our market, and with that competition comes review dates (meaning the seller will review offers on a specific day set beforehand) and escalated sales prices. In past years, this sort of frenzy continues until mid-summer, when it generally continues to cool down into the winter.
We're here to help any buyers or sellers, and to answer any real estate questions you may have! Even in markets like this we have success finding homes for buyers. Send us a message through our contact page and we'll be happy to help!