The picture below was generated using data from the North West Multiple Listing Service.  It shows the dramatic change in the Seattle Housing Market over the past few months.

The green areas represent buyers markets, yellow are balanced markets, and red are seller’s markets.  This information is only for single family homes.  Ignore the downtown corridor where there are almost no single family homes, but the remainder of the map paints a dramatic picture. 

Just three months ago we were looking at a strong buyer’s market in almost all areas.  Now, nearly all of western King county is showing up as a balanced market where buyer’s no longer hold a strong advantage. 

I can tell you from experience that buyers are still very nervous and trying to get the best possible deal.  Some are loosing out on great homes because they are getting too greedy.  The map explains why.  It is no longer the case that a buyer can walk into a negotiation and ask for the moon.  Much of the lower priced inventory has been absorbed and continues to be absorbed.  Sellers are becoming more rigid on price and buyers are having to jump a little higher to get what they want. 

All this is typical for this time of year and I don’t want to oversell the point.  We are still in a difficult economy as yesterday’s jobs numbers showed, but the idea that buyer’s are squarely in the drivers seat no longer seems to be the case. 

As an aside, I can tell you that I am currently involved in two negotiations for homes on behalf of buyer’s of mine and both have multiple offers on the home. 

Seems to me that much of the bottom feeding has already taken place and now the good homes are getting a lot of attention, while those with flaws are getting ignored. 

Stay tuned as we watch what happens in late summer and early fall.

Give me a call if you would like me to find your perfect home for you.

—————————————————————

Rob Graham, Accredited Buyers Representative

Windermere Real Estate

Seattle, WA

206-321-6349

robgraham@windermere.com

Popularity: 3% [?]