My best description for the current market is schizophrenic. Coming off a very slow 4th quarter in 2022, the Seattle area market seems to have gathered some steam, and buyers have more confidence in making offers. Many properties are receiving multiple offers while others stay on the market. Buyers are certainly “cherry picking”, and it proves that preparation is well worth the effort. Inventory remains the biggest challenge to a balanced market, in February closed sales were down by 17.3% compared to the same month last year. The impact and uncertainty of inflation, jobs, and how high interestrates climb remains to be seen.
If you are thinking of selling or buying, do not be
discouraged, you just need patience and a great guide (that’s me!!).