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Washington Real Estate Summary
The Washington real estate market is mixed overall, but hot in certain cities. Statewide, Washington has seen tremendous job growth and an influx in population to cover those jobs, making Washington relocation very practical. The unemployment continues to drop, however it remains slightly above the national average. The economy remains strong since technology and products remain their largest employing industries.
Vancouver real estate is hot. There is a shortage of houses being listed, and ones that are in prime areas sell within 30 days of listing. The average sale price is $187,000, which is up between 10 and 15% from last year´s sale prices. Overall, sellers are getting between 95-100% of their asking price. The largest portion of the market is first time buyers trying to take advantage of low interest rates.
Seattle real estate is also in a hot trend. Houses in Seattle sell for an average of $355,000 after being on the market for a mere 10 days. This is an increase of 10-15% over last year´s average price. There is a shortage of houses in the lower price ranges, driving up the demand and prices. Sellers are often times getting over asking price for their house. | 