Current Market Trends

The prices home sellers are asking and the prices homebuyers are paying haven’t been this far apart since the start of the pandemic.

According to a recent report from Redfin, the typical home for sale is listed for 9% (or $38,672) more than the typical home is selling for—the largest gap since May 2020. In Port Ludlow, the gap is 8%.

Average Sales Price for Port Ludlow

Buyers do not seem willing to purchase homes that need significant updates or repairs unless the seller contributes toward those costs, either through a credit or a substantial price reduction. The more work a home requires, the longer it tends to sit on the market.

If you are considering selling your home, give me a call. I’d be happy to take a look and help you determine the best strategy to get your home sold.