Seattle Real Estate Market Not As Hot As Advertised?

Real estate companies say heat is returning to the area’s housing market. But the numbers still don’t show it. “While buyers remain cautious, they are ready to pounce on attractive, well priced homes and the open house traffic is very heavy,” Mike Skahen, president of Seattle’s Lake & Co. Real Estate, said in a news release accompanying the Northwest Multiple Listing Service’s April report. “A good recovery is under way.”

This comes a week after Glenn Kelman, president and chief executive officer of Seattle-based online real estate company Redfin, quoted Redfin agent Bryon Ziegler saying his previous 10 offers turned into bidding wars.

“Everything changed just in the past six weeks,” Bryon said in the post. “In February, you were the savior if you came in with an offer. Now, the reaction is: take a number. And if you don’t come with all guns blazing, you’re usually a day late and a dollar short.”

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