This week across our Eastside and Seattle markets, we’re seeing between 19% and 31% of homes on the market reduce their asking price — a stat that tells us a lot about buyer demand, pricing strategy, and where momentum might be shifting.
Just like last month, we’re seeing multiple offers and homes selling above asking price in all markets. But also like last month, overpriced listings are sitting.
The real estate market is a lot like our traffic—just when you think you’ve figured it out, it throws you a curveball. While the numbers give us valuable insights, the reality on the ground often moves much faster. This year we’ve been in bidding wars where homes skyrocket 35% over asking, and we’ve also helped buyers negotiate overpriced listings down because some sellers are a little too optimistic.
Despite all of the changes in 2024, the real estate market was realitively normal compared to pre-covid markets. We expect 2025 to follow suite.
By submitting and accepting early offers before the offer review date we as a collective group of real estate professionals are perpetuating an unhealthy and spastic work and market place environment. We are running ourselves into the ground and are showing little respect for our peers, buyers, colleagues and ourselves.
The possibilities are endless on this amazing Licton Springs property marketed as a development site and expected demolition of two structures! (the home and a detached garage). LR2 zoning; probable 6 or more building sites. No interior access permitted before mutual P&S agreement. Exterior walk-around allowed.
