2019: HERE WE GO!!!

I was just catching up on some auto-searches I have for clients, and the number of new listings that were already PENDING after just a few days is astonishing. For those of you who aren’t engrossed in the housing market every day, here’s a quick update…
 
The Seattle housing market is heating up FAST. I’m seeing homes go pending less than a week after hitting the market. The house across the street from me was listed on a Thursday and pending by Monday, and that’s not an anomaly. For the previous TWO weekends I had some difficulty holding open houses, because the houses I found ended up selling before the weekend came! Inventory is starting to climb, but it’s not enough to satisfy the buyers who have come out full force. When the market cooled off, everyone asked “Where did the buyers go?” Well, they’re back!! Buyers are rejuvenated in the new year and rushing to buy before interest rates go up. Mid-2018 saw Seattle slide into a more balanced market, but I predict sellers are going to see their power come back. Already, agents in my office are talking about encountering bidding wars and prices escalating way over list price. Within a month or two we might be right back where we were mid-2017, at the height of the Seattle housing market craze.