If you’re in the market to buy a house, you could be in luck. Compared to this time last year, house hunters have a better selection — and perhaps more negotiating power.
Even with the usual fall decline in houses going up for sale, there are still 4.7 percent more houses for sale now than October 2017, according to the Northwest Multiple Listing Service’s (NWMLS) latest report.
director John Deely, principal managing broker at Coldwell Banker Bain in Seattle, said. “Sellers responded by capturing available buyers with competitive pricing or by quickly adjusting pricing.”
2503 S.W. Portland Ct., Seattle, listed for $599,000. See the full listing here.
Home and condo prices are also the lowest they have been in months, averaging $613,509 in King County, which is down $93,741 compared to last month.
Homes are also on the market longer, which can leave sellers antsy to close — and ready to strike a (relative) bargain.
15832 S.E. 170th St., Renton, listed for $625,000. See the full listing here.
“Buyers are catching on to their newfound ability to negotiate. For the first time since 2012, closed sales system-wide rose from September to October,” said Robert Wasser, a branch manager with Windermere Real Estate in Bellevue.
Don’t get too excited by that drop, though — prices are actually up $48,509 compared to October of last year. Although, that increase could be good news for both buyers hoping to invest and sellers looking to make a buck in the long run.
20111 30th Ave. N.E., Shoreline, listed for $499,950. See the full listing here.
“Home prices in King County are up nearly 8.6 percent year over year, so we’re still experiencing significant appreciation,” Mike Grady, the president and COO of Coldwell Banker Bain, said in the NWMLS report. “And sellers can still expect to get good prices. All this without the frenzy. A win-win.”
If you’re looking to strike a deal, we’ve provided three examples from around King County near NWMLS’s median listing price of $613,509.