We are ready for summer! With highly anticipated warm weather just around the corner, we’re still seeing the benefits of this hot sellers market. Have you ever wondered if this exciting real estate market could be an advantage for you?
We’re here to answer some of the most common questions we receive in relation to the current real estate climate. We aim to provide clarity on what the market looks like right now, give you some insight on buying and selling, and help you learn how this market can be of benefit to you.
“Could my home sell above asking?”
Our short answer to this is yes, it could! As we’re experiencing such low inventory, homes are selling at a higher price due to buyers bidding wars. However, before we put a property on the market, we complete a thorough analysis of the home, and determine the best price for the current market conditions. We’ve seen homes selling as much as $80,000 over list price!
“If I sell my home now, how long will it take?”
The average time a home is on the market right now is about 5 days. Depending on the terms you agree upon with the buyer, it’s possible the sale could close in as little as one month!
“Is it a good idea to purchase a home right now?”
Currently, as we are working in a seller’s market, there are more buyers than there are homes for sale. This can make the process of buying a home more competitive. However, we’re still experiencing historically low interest rates. This is great news for buyers because a low interest rate can mean lower monthly mortgage payments. We haven’t seen interest rates this low in nearly 50 years!
“How much have home values increased in Maple Valley?”
Over the last year, we’ve seen a large increase in average home value for Maple Valley alone. Year over year, median home value in Maple Valley has increased by about 15%! Maple Valley is a highly desirable place to live, and we’re continuing to see an increase in demand for homes in our area.
Our team is always here to help. If you have any questions, don’t hesitate to reach out. Call or text us at (425) 281-0373!