In a previous post, Understanding Market Reports for Single-Family Residential Homes, I talked about the difference between a sellers market and a buyers market. Below is a great graph that shows a sellers market and buyers market in terms of supply and demand (on a national level). Please note, although Washington state is coded as a very strong buyer demand outpacing seller supply, this statistic is taking to account the entire state. Areas in Seattle, and King County in general are experiencing huge demand with little supply, and at a greater rate than we are here in Pierce County. Even within Pierce County, some areas have a larger supply available than others. Listing a property for sale when the demand is high is a good market strategy, but know that it alone does not guarantee a quick sale. Many other factors go into getting an offer, such as the price. The higher the price of the property, the fewer the number of potential buyers looking in that price range. As with other aspects of real estate, let me know if you have any questions…we can work together to figure out how to best position your home for sale in the current market.
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