Today there are 29 SFRs (single family residences) listed for sale in Bellevue for less than $500k. Two of them are actually under $400k. This number is actually creeping up slightly, but not as fast as I thought.
There seem to be a lot of sellers out there who may be late to the game and still be fishing for prices that were only a figment of their (and their agent’s) imagination. There are at least three that I know of on my street alone. For now, that seems to be one of the main reasons that the average number of days on market is also going up. For today’s SFR listings in Bellevue, the average days on market is 41 days and I look for this number to continue to get larger.
What’s the pricing like in your neighborhood? Do you think sellers are being reasonable?
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