Inventory of homes for sale low
King County’s current inventory of homes for sale is low with a particular shortage of “move-in ready homes.’ Some sellers have figured out that if they remove any buyer objections ahead of time, their home will sell quickly – thus the homes that are selling are ‘looking good’ and are ready for occupancy without remodeling, etc.
According to the Seattle Times, Seattle is currently offering fewer than two single family homes for sale for every sold home. East Bellevue has a 3:1 ratio.
Playing the ‘Waiting Game’
“Where the heck did all the sellers go?” asks Tim Ellis, Seattle Bubble.
“Oh, right. Most of them have finally realized that they’re not going to get their fantasy price for their home, so they’ve pulled it off the market, waiting, hoping, praying for a fantastical recovery in prices.”
Ellis continues,”They’re (i.e., Sellers) going to be waiting quite a while. (Buyers) I hope you like short sales, REOs, estate sales, and homes that have been lived in by the same family for ten or twenty years, because those categories will probably make up the majority of inventory for the next few years.”
King County inventory of homes for sale…
Data source:Seattle Bubble