Homes in King, Snohomish and Pierce county are currently selling for an average of approximately 97.6% of the asking price (Source: NWMLS). What this tells us is that homes in Washington State will not sell or likely even receive an offer until the home is priced very competitively.

In other parts of the country, it is not uncommon to see people pricing their homes at 10-20% above market value because buyers in those markets will often make heavily discounted offers. Although negotiations on price frequently take place in the Seattle Real Estate market, rarely do they extend below 3% of the asking price.

The Seattle Times recently published the following list of the top 5 warmest and coolest real estate markets in King, Snohomish and Pierce county. The numbers below represent the percentage of list price to sales price. For instance, Covington is listed as 101.3%, meaning in that area, the average seller sold their home for 1.3% above their asking price.

Top 5

Covington (98042): 101.3%

Spanaway (98387): 100.8%

Dupont (98327): 100.6%

Puyallup (98375): 100.0%

Maple Valley (98038): 99.8%

Bottom 5

Mercer Island (98040): 91.8%

Richmond Beach/Shoreline/Blue Ridge (Seattle, 98177): 92.3%

Edmonds (98020): 93.0%

Magnolia (Seattle, 98199): 94.2%

Clyde Hill/Beaux Arts (Bellevue, 98004): 94.3%