• A record-high of 7,676 homes went from active to pending
• 57.3% more homes closed in June than in May.
• 7,364 properties came on the market, but the demand was much higher. Since more homes went under contract than hit the market, we finished the month with a near record-low of inventory (-11% month-over-month and -33% year-over-year).
• The average sales price increased to $509,736

But COVID19 has also created a situation that amplifies these market conditions that favor sellers to an extraordinary extent – Here is an except from a recent article from REALTOR.com.

“Along with working remotely, people have been spending more time at home in general—and this, in turn, has sparked a fresh deluge of home buyers whose current homes no longer seem as comfortable or roomy as they were pre-COVID-19. That is, if your dining table now doubles as your "office," you might be tempted to trade in your short commute for another room or two so all can work from home in peace.

“People are looking at their existing home and saying, ‘If I have to work from home, then maybe my house just doesn't work,’” Gardner says.

“Spending three months locked up at home taught a lot of people that where they live is important,” agrees Jed Kliman, managing broker at Windermere Real Estate in Seattle.

“Clients I’ve been working with recently are trading up because they've spent more time in their homes and realized it didn't meet their needs.”

Home offices, more privacy, outdoor spaces, and just more room are becoming more important to homeowners. Kliman says playing up these features and amenities when you sell your home can attract buyers. Home staging and visually appealing listing photos, though always important, are especially crucial in today’s market.

“Staging, professional photos, even video and 3D virtual tours—those are all really important because people start their home search online, and they have to be moved and captivated to go see a house,” Kliman says.

In addition to understanding market conditions, home sellers will want to know that the process from offer to closing may work a little differently today.

For example, social distancing may mean home inspections and repairs take a little longer. Kliman says some of his sellers have been doing their own pre-inspections and making reports available to interested buyers to speed up the process.

The bottom line: “You want to make it as easy as possible for a buyer to make an offer,” he says.”

It’s true, with less inventory right now, sellers have more negotiating power. And with the new safety protocols in place, we hope more homeowners and investors will take advantage of this red-hot market and list their properties. Buyers are excited about the incredibly low mortgage rates. They will need professional guidance to find the right home and expertly negotiate the best deal.

I am here to make the process as smooth, safe, and successful as possible. If you have any questions or need resources, feel free to contact me by text, email, phone, or Zoom: (Your contact information and hashtags will be included)