Ep 7 - Sierra Webb Talks About the Shifting Market, Trends and Seller Concessions Part 3

Mortgage Moves

May 15 2023 • 45 mins

The real estate market in the Eastern Washington and Oregon has undergone significant shifts in recent years, resulting in changes in seller concessions and market trends. Previously, sellers held a dominant position and had the upper hand in negotiations. However, the market has become more balanced, giving buyers increased bargaining power. As a result, sellers in the PNW are now more inclined to offer concessions to attract potential buyers. These concessions may involve covering closing costs, providing repair credits, or even lowering the asking price. This shift in the seller's market highlights the evolving dynamics within the region's real estate landscape.

Market trends in the PNW reveal a growing demand for properties that offer convenient access to amenities. However, there is also a notable rise in interest for suburban and rural areas. Buyers are seeking spacious homes with dedicated home office spaces and outdoor areas, influenced by changing lifestyle preferences. The PNW's suburbs and smaller towns have become more popular as they offer buyers an affordable alternative to bustling city centers. These evolving market trends in the PNW reflect shifting buyer priorities and preferences within the region's real estate market.