These are the days that keep us going in the Pacific Northwest amid the darkest days of January and the persistent drizzle of March: summertime. It's finally that time of year, with the bluest hues across the sky and the shimmering sea of the Puget Sound, Lake Washington, and beyond.
Our real estate market, too, is feeling the heat. Buyers looking to take advantage of record low borrowing rates have descended upon the market, and a scarcity of inventory has favored sellers who are frequently faced with several offers.

We look at the extraordinary living on the eastern coast from the shores of Lake Washington to the destinations and communities nestling in the foothills of the Cascade. The landscape is gorgeous, the schools are among the best in the state, and the communities that comprise the bustling Eastside offer unparalleled opportunities for those looking to sell their home or find their next.

The success of the Seattle real estate market, like the overall US housing market, is determined by supply and demand. This means we need to look at how many potential purchasers are in the market versus the number of houses that are available to buy. With early 2020 housing data now rolling in, it’s quite evident there are two big stories impacting this year’s residential real estate market

Regardless of the lack of inventory on the in the US and local Seattle market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years.

Even though there’s a big buyer demand for homes in today’s low inventory market in Seattle, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own.