The super-hot housing market isn’t confined to the Puget Sound region. Across the country, record-setting home sales are making headlines.
The high demand and tight supply of homes available is causing prices to rise and many homes are snapped up in just days. According to CNBC, “Denver led the nation in fastest sales, with nearly half of its new listings going under contract in just six days. Seattle came in second at seven days.”
With the high demand and the short days on market, many areas are still seeing a rapid increase in home prices. On average, home prices in the U.S. increased 6.8 percent compared to a year ago. In comparison, on Seattle’s Eastside average home sale prices were up to near-record numbers in May at $875,000. That’s a staggering 15 percent over the same month last year.
While these increases and somewhat frenzied market seems to be spread across the country, it’s important to work with a broker who explains the ins and outs of the Real Estate market to you. These numbers are average, and not all home will sell in less than a week. Get in touch with us today and we can guide you through the Seattle area Real Estate market.
Read the full article for more on CNBC.com.