According to Forbes magazine recent tax hikes to foreign buyers in Vancouver B.C. has pushed these international, all cash buyers into the Seattle area.
In the last 15 days, 98 out of 390 homes sold with a Seattle address were all cash offers, or roughly 25% of offers.*
Domestic buyers are also coming to the Greater Seattle Area and as they do, they push former King County residents to the surrounding areas in search of affordable housing. The Seattle Times recently examines domestic migration extensively in this article.
I was showing homes in Tacoma recently and upon calling the listing agent to inquire if they had offers already, I laughed out-loud when the listing agent said, “Why are all you King County agents showing homes in Tacoma, haven’t you got anything to sell up there?”
The below interactive chart shows just how little supply the inventory is, less than 3 months supply of inventory leads to rising home prices.
But we can help, Mariah and I are getting clients in contract weekly. We know how to prevail in this market. Call us today at 425-891-0088
*Source: Solds & Stats Report, NWMLS criteria Single Family Home & Condos Sold between March 14, 2017 to March 29th, 2017, Seattle WA