Fall Market Update: Why October Could Be the Best Time to Buy or Sell?
🍂 The fall season is here, and with it comes new opportunities in the real estate market! While spring and summer tend to get all the attention, October can actually be a golden time for both buyers and sellers. Here’s why:
🚨 Seattle & Eastside Real Estate Market Update – Fall 2024 🚨
Seattle’s market is HOT 🔥 with homes selling fast! The average price? $1.05M, with homes flying off the market in just 30 days! Inventory remains tight at just 2.3 months.
On the Eastside, it’s a bit slower, with homes taking around 34 days to sell, but prices remain strong, often selling close to list. 💪
Nationally, rising rates (around 6.625%) have slowed activity a bit, but some relief is expected later this year or early next year. Median US home price is at $432,849, and many homeowners are still staying put due to the “lock-in” effect from previous low rates. 🏡📉
✨ For Buyers:
- 🏠 Less Competition: Many buyers wrap up their searches by summer, leaving fewer people to compete with in the fall. This means more negotiating power and the possibility of securing a better deal.
- 📉 Sellers May Be More Flexible: With the holidays approaching, sellers may be more motivated to close deals before the year ends. This could lead to price reductions or more willingness to work with your budget.
- 🌟 Home Prices Stabilize: After the competitive summer market, home prices tend to level off, making fall a great time to find a property at a more manageable price.
✨ For Sellers:
- 🔑 Serious Buyers Are Out: Fall buyers are often highly motivated, whether they’re trying to lock in a home before the holidays or take advantage of year-end tax benefits. This means fewer window shoppers and more qualified buyers.
- 🏡 Beautiful Curb Appeal: With the autumn leaves, your home’s curb appeal can shine, creating a cozy and welcoming environment for potential buyers.
- 📅 Less Inventory: With fewer homes on the market, your listing stands out more, giving you a better chance to attract attention from serious buyers.
🍁 October is a great time to make your move in real estate! Whether you’re looking to buy your first home, invest, or sell your current property, now is the time to take action before the holiday rush and potential rate changes.
📊 Curious about the current market in your neighborhood? DM us today, and let’s chat about your real estate goals!”