Dear Jan: We’ve been watching the local market for quite some time. As you have said, the inventory is historically low. We are curious: Where are the buyers coming from? — SD &DD
Dear SD and DD: Many of our buyers today are coming from the Eastside. Those buyers share that they are tired of the traffic and the pace of life there.
Now that new construction is happening again, we’re finding that Amazon employees are finding their way west. They can buy a lot more house for a lot less money over here. My business partner (and daughter), Lisa Zufelt, has been boosting our listings on Facebook to Bellevue and California. She can see reports that give her the numbers on how many people actually open the listing.
The hits from Bellevue and California are amazing!
However, as you mention, the inventory is extremely low, so they are having the same problems that locals are having: finding a house today. If out-of-the-area buyers use a local agent, their odds go up as we can usually show a home the same day it lists. Out-of-area agents lag by a day or two, as it is a huge time commitment for them to come over here and show a house.
Let me add that some buyers are also coming from Bainbridge Island, many stating that taxes and traffic getting off the island are some reasons why they’re moving.
Hope that answers your question.
— Jan Zufelt is a broker with John L. Scott Real Estate in Kingston (https://kingstonoffice.johnlscott.com). Contact her at email@example.com.