Rick Franz June Market Update

Let’s talk Real Estate and give you an update on the latest stats for Seattle’s Eastside residential and condominium market. Supply or shall we say the lack of supply continues to limit sales. Buyers are feeling the pinch in supply, there is only a one month supply of inventory, as a result the percentage of properties selling above original list price has increased from a recent low of 6% in December to 44%. The median amount paid over list price has increased to 5% for the past two months. It does appear that if buyers are waiting for prices to come down, they will very well be disappointed based on our current trends. Make your real estate goals a reality in this market, call me Rick Franz for all of your real estate needs!