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The median house price for homes in Kent Washington during November 2017 was up nearly $100,000 from this time last year. While the average price last year in November was $468,038, the average price last month was $563,297, a 17% increase. New listings were down from last year, with 95 residential homes becoming available in November 2016, that number was just 84 a year later. Active listings were also down significantly last month, with just 132 homes available compared with 194 last year. Adding more pressure to the real estate market in South King County are the statistics for new residential listings, just 8 new homes became available for sale in November, down from 13 this time last year. Condominiums also fell sharply form 33 in November 2016 to 18 last month. Interestingly, the average price for these types of properties has fallen over the past year nearly $15,000, from $245,070 to $229,267.
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“All of this is making it hard for agents to get buyers into their dream home” says Debra Batterson, a real estate agent at Dream Home Real Estate Inc in South King County. “Many prospective buyers will not win the listing. After they fail to win 5 to 10 homes that they’ve made an offer on they leave the market, they go into a area further away or they try and find something to rent.” she goes on to say.
“This is one reason why its so important to have the right agent working for you,” her business partner Zan Dewar says. “There are many other factors too, but if you dont have someone who can think out side the box, communicate quickly and effectively, and craft an offer that is the most appealing to the seller, you just wont stand much of a chance of getting the home you want in 2018.
Release ID: 277959