If you’re a home buyer in the Tri-Cities area this month, as Bananarama sings, “It’s a cruel, cruel summer….”
Kennewick was listed as the #6 Hottest Real Estate Market for August by Realtor.com. See for yourself here.
Because the number of homes is down, and the amount of buyers is up, which makes anything that does hit the market sell quickly, AND for more than it would have sold for at this point last year. Nationwide, the median home price is up, on average, by 10 percent from August of last year.
As always, what the article doesn’t tell you, but I will, is that your house still needs to be in great condition and priced right in order to sell at the quick pace that most homes are moving. You can’t simply put a FOR SALE sign up in the front yard or list it online for an exorbitant price and expect it to sell quickly at that high amount.
Our market is moving swiftly, true, but buyers are still keeping their heads about them and making smart decisions. For example, an unappealing floor plan is just as unappealing when there are fewer houses on the market as when there are a lot of houses on the market. So, a seller will need to price the house lower to compensate for the house’s shortcomings, regardless of the surplus, or shortage, of competition.