Market Information August 24, 2021

Navigating Our Current Seller’s Market: Tips for Buyers & Sellers

We still have a strong seller’s market here on Bainbridge Island. Whether you’re looking to buy a home on the island or sell one, I have some helpful tips for you. But first, a bit about our current market.

Recent Stats for Our Seller’s Market

With high demand and low supply, we have a strong seller’s market. In the second quarter of this year, the average sale price on Bainbridge Island was $1.46M, up 26% from this time last year. Additionally, the percentage of list price received was 108%. I’ve continued to see many competitive, multiple offer situations where buyers are outbid by price or all-cash offers.

For more information on our seller’s market, you can read the Western Washington Gardner Report, done quarterly by Windermere’s Chief Economist, Matthew Gardner.

4 Tips for Buying in a Seller’s Market

You may feel overwhelmed when thinking of buying a home right now, given our competitive market. However, if you follow these tips below, you’ll be on the path to success. One tip I can’t stress enough: do your due diligence. Take the time to research agents and properties. You want to find a real estate agent who has the expertise and local knowledge to advocate for your needs and wants, serving as an excellent negotiator and trusted guide. Knowing as much as possible about a property and its neighborhood, and asking all the right questions can really help you craft a strong offer.

If you have any questions, feel free to reach out. If you’re new to the area, check out our guide to Bainbridge Island.

5 Tips to Sell Successfully

If you want to sell your home for top dollar in the shortest amount of time, here are some helpful tips. While there are many ways to get a rough estimate of your home’s worth, I can provide an accurate free market analysis. Feel free to contact me to learn more.

Real Estate Investing

If you’re looking to expand your real estate portfolio, check out these tips below. As a Managing Broker and licensed attorney, I’ve worked with a range of clients. I’ve been marketing and selling properties for over 30 years, and I’d be happy to provide you with more information if needed. You can also view my sales portfolio.