The Olympia WA (in Thurston County) January 2020 real estate marketplace is deep in a seller’s market. With the low inventory and fewer choices for buyers, many sellers are seeing multiple offers and are receiving offers within hours of listing. Most offers are over the asking price when buyers are bidding on a property.
But is the first offer the best offer?*
There is certainly a lot of anecdotal information out there but we, at my firm, have tracked this in Thurston County so we can provide the facts to our clients.
For January 2020, sellers on average accepted the highest priced offer on Day Five.
It is frustrating for buyers and their agents to see listings come onto the market and go pending within 24 hours or less. As an experienced REALTOR®, I often wonder if the seller, in that short of time on the market, was able to get enough exposure in the market to really get the best offer for them.
My advice for my Olympia WA sellers is to give it at least a few days before accepting an offer. This strategy may not be the best for all sellers but this is why the agent representing you should be listening to your needs and strategizing a successful, customized plan for you.
If you’d like more information about how you can get the most this market can give, I invite you to reach out to me anytime.
*The “best” offer isn’t necessarily the highest offer as other terms can affect the seller’s decision. Deciphering which offer is best for a particular seller takes the know-how of an experienced REALTOR®. Call me today!
Statistics compiled by Coldwell Banker Evergreen Olympic Realty from NWMLS data. Statistics not published or compiled by NWMLS.