Seattle WA market - for SFR is it a buyers or seller's market?

[Tricia O'Brien]

Hello BP Colleagues,

I live in Anchorage AK and want some info on the Seattle market.  For Single family homes is it a buyers market or a sellers market? Is there a lot of inventory?  thanks, Tricia

[Tiffany Plovie]

@Tricia O'Brien

   I have to agree with @Brandon Kelly and @Kirill Chervets. Seattle is an absolutely brutal market right now, and it is showing no signs of slowing down.

 Just take a brief look at the following articles:

http://www.geekwire.com/2015/a-silicon-valley-exodus-redfin-analysis-finds-that-bay-area-residents-increasingly-looking-for-homes-in-seattle-and-portland/

http://www.seattletimes.com/seattle-news/data/seattle-no-1-for-techies-looking-to-flee-california/

http://www.seattletimes.com/business/real-estate/king-county-home-prices-surge-just-shy-of-2007-peak/

Additional data released by the MLS on June 4th, reported that housing inventory has dropped statewide (with the exception of Ferry and Douglas counties) by more than 18% from a year ago. Pending sales in King, Kitsap, Pierce and Snohomish counties are at record highs over the past 15 years. Sale prices are up over 11% (again, this is statewide) than last year.

I can already hear you asking, 'Are there any good deals to be had at all?' The answer is yes, depending on your ability to waive contingencies, hire a good broker and expand your search criteria.