I look forward to Fall…. Yes, even though we had virtually no summer weather to speak of this year, fall is a time for sales activity to begin again. Contrary to popular belief July and August are slow months in real estate. In our area when the sun comes out families want to spend it outside, having fun enjoying summer activities. Open houses which have had more traffic than usual are always slower in the summer than fall and spring. Historically, my busiest months are November, December and January. The holidays don’t stop homebuyers, never have.
While this is good news for the sellers that think they missed their opportunity to market their homes this summer, buyers should be aggressively pursuing their purchase. The tide has already turned from the ridiculously strong buyers’ market to a more even market. Sellers have begun to re-consider concessions requested by buyers in their offers even saying no and this includes corporate and bank owned real estate.
The competition for well-priced homes that are move-in or close to move in ready is strong. This in turn will begin to push home values up which will start the cycle back toward a sellers market.
In Bothell there are 549 homes currently for sale. The median list price is $324,925. 120 homes sold in September with the median sales price of $317,400. The average days on market from list date to an acceptable offer received is 85.