What I Learn From Home Buyers
— A couple of weeks ago, I showed a client six homes, one in Bellevue, and five in Kirkland. In preparation, we met and discussed the why, what, where and “how much” questions. For the answers to the latter I recommended a respected mortgage broker. For the what and the where, I ran the numbers. In the area of interest how many homes sold in the affordable price range of these home buyers? How many homes were currently for sale?
It’s still a sellers’ market.
What the numbers told us is that this is still a low inventory market. There were just seven sold properties. They found home buyers within an average of 12 days. The buyers paid an average of 5.3 percent more than list price. The 16 homes that were under contract (pending sales) were on the market an average of 14 days.