For several years, Seattle was one of the many major cities with soaring home prices. More recently, Seattle has been known for home prices that stood still. Present day, an article by The Seattle Times states that a recent dip in Seattle home prices is leading a nationwide slow-down. So what does this mean for homeowners looking to sell? We’ve gathered some must know facts about the market changes as well as a few tips for selling your home in a cooler market.
First, the facts.
Even though prices are dropping, they remain high compared to the nation-wide average. A recent report by Zillow states that the median home price for a single-family home in Seattle Proper is $714,600. It is important to note that the Seattle market has been compared to a microwave: Super hot in some spots and cold in others. Neighborhoods that were highly sought after last year are not as competitive this year. Other neighborhoods that were lacking interest are now booming.
The dip which is reported according to the latest S&P CoreLogic Case-Shiller data found that in May, prices dropped an average of 1.2% from 12 months earlier. It also found that overall, Nationwide, home prices have been slowing their gains for the past year. The Seattle Times article notes that although prices in the city of Seattle are considered to be dipping, prices for less expensive homes, which tend to be outside of Seattle are still on the rise.
Our Recommendations.
With the dip in the market, staging your home in preparation for listing is more important than ever. Making sure that your home is properly prepared is an investment which more often than not yields a high return. The National Association of realtors reports this. “Eighty-three percent of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.” Don’t delay and potentially cost yourself months of agony by listing your home without staging. Considering selling your home in a cooler market? A professional home stager should be at the top of your list of people to contact to schedule a walk-through.
At Seattle Staged to Sell we believe that Home staging is more than bringing in inventory. It is about creating the desired lifestyle of the targeted buyers in each home. Stay ahead of the dip and contact us today to discuss how staging can your home in a cooler market.
Written by Ashley Pasquale
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