How Rising Interest Rates Will Affect the Seattle Real Estate Market

In the Seattle area, home prices have been the highest we’ve seen in history for the past several years. To combat rising list prices, Interest rates for home loans are skyrocketing, with the most recent numbers racing past 6 percent. How will this affect the real estate market? The experts at KCD Staging explain what will likely happen below and what home sellers can do about it.
Home Prices Will Fall
With such a significant spike in interest rates, sellers will have to put a cap on how much they list their homes for. Current sellers will have to do a lot more to get a similar price to their neighbor’s home that sold six months ago. It’s also realistic to expect that homes on the market will stay there longer. Gone are the days that a home will get multiple offers in less than a week. So if you’re selling a home, how can you ensure you’ll sell it for a good price in a reasonable amount of time?
The answer is home staging. According to a survey by the National Association of Realtors, more than 23 percent of real estate brokers reported that well-staged properties received bids that were between 1 percent and 5 percent more than their list price. Additionally, staged homes sell more quickly and stay on the market for 30 to 50 percent less time on average. When you need to sell your home quickly and for a worthwhile price, investing in professional home staging is worth it.
Custom Staging Available in Seattle and Bellevue
If you are interested in staging a home in Seattle, Bellevue, or the surrounding areas, contact KCD Staging. Our team is skilled at dressing homes for success in a changing real estate market. To learn more about our real estate staging services, or to request an estimate for the cost of home staging in Bellevue and beyond, please give us a call at 206.383.6767. We look forward to working with you to sell your home fast and for a top price.









