Just Sold by Kurt

Sold in Kent, WA. 1321 117th Pl SE $676,247

This unique 7 bedroom, 4 bath home in Kent received multiple offers and sold at full price! Because of its unique features including 2 kitchens, 3 car garage and the ability to separate it into two living spaces for multi-generational living, we thought it would take extra time to find the right buyer. But we were under contract in 20 days thanks to two eager buyers, with a few more in the waiting! If you are looking to sell and would like similar results, do not hesitate to call or email for a no obligation home value analysis and a marketing plan. kurt@kurtkreager.com

Looking to buy?? I work both sides of the deal and know how to prepare you and present your offer to compete in this time of limited inventory. Call for details!

Sellers add inventory – prices notch up

Sellers added the most inventory since May 2019 to the 23 county NWMLS system in July, but buyers continued to show up & buy. This pent up buyer demand has lead to continued tight inventory in most markets. Major population centers in King, Snohomish, Pierce & Kitsap counties have little more than 3 weeks supply. Prices on the other hand, are rising, with residential prices (single family & condo) prices up 12.8%. Median prices in King county continue to lead the way, up 7.2% YOY (Year over Year) to $670,000.

As one would expect, COVID-19 induced remote work practices are beginning to show, with median price increases in outlying counties such Lewis, Grays Harbor, Okanogan & Cowlitz being around 20% or more. Workers are no longer constrained to being close to work & coupled with more buying power due to record low interest rates, rural areas are expected to continue to be in demand.

Sellers are cautioned to not overprice, todays buyers are armed with too much information & are too savy to over pay. I still see numerous price reductions, sometimes from over pricing, sometimes from poor presentation, that ultimately hurt the seller. Buyers on the other hand, are urged to act quickly if they see something they like. Todays buyer, now accustomed to virtual tours & remote signings, are actin quicker than ever.

Adapted from North West Multiple Listing Service August 2020 press release. See the full press release and 23 county report here: http://members.nwmls.com/library/content/PressReleases/2020/NWMLS%20NR_August%202020.pdf