Looking to buy a home in Seattle? Over 40% are selling above list price

[Yo_Mama_Been_Loggin]

The Seattle-area housing market is seeing a significant number of homes selling above their initial list price as the area continues to see low inventory amid the coronavirus pandemic.

According to a new report from Zillow, nearly 44% of homes sold above their list prices in September. That's up from just 25% of homes in September of last year that sold above their list prices.

The report found of the Seattle homes in the price range of $405,000 to $516,000 - what Zillow defined as the lower-middle fifth of the market - 52% sold above their list prices.

"The market in Seattle is currently very strong. Buyers are optimistic about a vaccine coming in the next year, so they are looking for homes that have one to two home offices with great schools," said Hao Dang, a Bellevue-based real estate agent with Windermere.

https://www.seattlepi.com/realestate/slideshow/seattle-homes-selling-above-list-price-coronavirus-212707.php

Quite some bidding wars if that's the case.

[handmade34]

1. same in Vermont

I was planning on buying this year... but starting in Spring, prices started going up and haven't come down

[MontanaMama]

2. Same thing is happening here.

Average home price in my neighborhood is $490,077. They're expected to go up another 7.6% in the next year. Inventory is low and homes are selling for much more than asking price with multiple offers well above the listing price. I have never seen so many out of state license plates in my life. Locals are hoping winter weeds some of these folks out.