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All the latest news articles and market trends of the Seattle Real Estate Market. If it is happening in Seattle it is happening on the Stroupe Group.

Thousands of Seattle-Area Homes Sold for $100K over asking in 2021

The hot summer market continues to bring with it new record-breaking statistics. According to a recent report by Redfin, more than 4,500 homes in the Seattle area have sold for at least $100,000 over asking in 2021 – vs 400 homes during the same time period last year. The report took a look at the sales during nearly the entire first half of this year, from January 1st to June 16th, 2021. 

A Stroupe Group Listing in Redmond – the Eastside saw this year’s most dramatic above-asking bidding wars during the first half of this year.

While a hundred thousand dollars is certainly an impressive number, a deeper dive into the statistics presented in this report uncovers even more records. Nearly 600 homes in the Seattle metro area have sold for $300,000 or MORE above their asking price – while only 16 properties met this criteria during the same period last year. The Eastside seems to be leader in the above-asking contest – 88 of the properties mentioned were located in this high-end area. 

The typical home in the Seattle area, surveyed in this report, sold for $47,878 above asking price – a staggering number when compared to $3,025 during the same period last year. During the period surveyed, over 4,000 homes sold for between $100,000 and $299,999 over asking price – an over tenfold increase from the 362 homes that fit that category during the same time last year. What is worth noting that while significantly more home homes fit in the $25,000+ over asking bracket, fewer homes sold for between $1-$25,000 over asking than last year – 3,601 vs 4,395 in 2020. 

We urge you to read the report in its entirety here

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