Hot Real Estate Market continues in Greater Normandy Park Area
Advertiser Stuart Steadman has been a top producer in our area since 1999, with a wealth of knowledge and insights into our local market. He took a few minutes to share with us a brief overview of the current market conditions in our area. Ready for some good news?
The real estate market continues to be hotter than ever in the greater Burien area and everywhere. The COVID-19 virus seems to have spurred many to have interest in either a new primary home or second home. Historically low interest rates have helped fuel these desires for a new home.
Inventory is down over 30% compared to last year at this time and demand is up. Many homes are staying on the market for just days and have offer review periods to allow multiple buyers to bid on a property. When analyzing the most recent data from September, pending sales are up almost 16% and closed sales are up 14%. The average sales price has climbed from $452.500 to $520,225, an almost 15% increase. What this means for anyone considering selling a property is that market conditions have never been better. Inventory is low and prices are up. Buyers are eager to buy a house. Buyers need to be prepared for multiple offers and possibly paying more than list price. It is more important than ever to hire a trusted real estate agent.
About Stuart Steadman
Principal of the Prestige Properties Team at Keller Williams Puget Sound, Stuart Steadman offers a simple value proposition: make your next home-buying or selling experience take less time, with the least amount of hassle, delivering more value to your transaction.
Thinking of selling? Give Stuart a call. He offers a free market analysis to determine what your home is currently worth, so that you may make an informed decision.
If you are in the market to buy, he’s got you covered also! With hundreds of successful transactions under his belt you can rest assured that he has the experience and expertise to help you navigate our local market with ease.
Why not give him a call – (206) 409-4220 – and put the power of Prestige to work for you!
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