As we move into the second half of spring, the Seattle-area real estate market exhibits signs of stabilization, with measured price growth rather than the frenzied runs of past years. Inventory is gradually improving, but remains well below pre-pandemic norms, giving buyers more options without shifting fully to a buyer’s market. Mortgage rates have settled in the mid-to-high six percent range (with the occasional spike), providing more predictability even as they continue to strain affordability for many.
Cautious Buyers, Adapting Sellers
Buyers are returning with clearer budgets and realistic expectations, often requesting concessions on closing costs or repairs to stretch their purchasing power. Despite these positive signals, many prospective buyers, especially first-time purchasers, still face hurdles in meeting high down payment requirements and qualifying at current interest rate levels.
Sellers are adjusting their strategies to align with evolving buyer expectations and market dynamics. While demand remains robust for well-priced, move-in-ready homes, the path to a successful sale often involves greater flexibility and creativity. Sellers are showing more openness to negotiating terms and offering incentives, such as rate buydowns, covering closing costs or offering HOA fee credits.
What Does it All Mean?
Buyers should secure financing and be prepared to negotiate on terms other than price alone to take advantage of the growing trend of seller concessions.
Sellers can stand out by investing in curb appeal and offering incentives, such as temporary rate buydowns or home warranties, to attract serious buyers.
Investors may find multi-unit properties and homes with accessory dwelling units attractive because steady rental demand and price growth support strong long-term returns.
We remain committed to guiding you through these evolving conditions with clear advice and personalized support. Feel free to reach out to us discuss how to make the most of this spring market—and set your sights on successful summer moves.
We are always ready for a call or a coffee/tea meeting!
Julie & Robert
