Woo-HOO! We made it to 100 episodes of the Quick Tip Tuesday!
Watch the Video Here
A lot can happen in 100 weeks…
When we published our first #QTT, the Seattle real estate market was still considered a hot market, and things have just gotten hotter since.
In March of 2016, the median sales price for a home in Seattle was $625,000. Today it is $775,000. That means that each week for the past 100 weeks, the price of a home in Seattle has gone up $15,000. PER WEEK! That is an increase of $214 per day.
When we look at condos, those numbers get even crazier. In March 2016, the median sales price for a condo in Seattle was $370,101. Today it is $531,900. The price of a condo in Seattle has gone up $1,618 per WEEK for the last 100 weeks. That is $231 PER DAY!
If you had bought the median priced home in Seattle the week we did the very first Quick Tip Tuesday, you would now be sitting on $150,000 in equity. In just two years! If you bought a condo on that fateful first week of the #QTT, you would be sitting on $161,799 of equity.
Have you been thinking about buying since you saw that first Quick Tip Tuesday? Homes and condos are a lot more expensive now. And my prediction is that this rapid price increase will continue for at least the next two years (due mostly to the lack of inventory and increasing population). Do you really want to wait ANOTHER two years, only to pay an additional $150,000 for the same house, or even worse, be priced out of the market all together?
It costs you $15,000 every week you drag your feet…