October sure turned into a busy month for the Mercer Island real estate market! I noticed lots of multiple offers out there but didn’t understand the magnitude until I reviewed the monthly statistics. The Mercer Island Patch has an interesting post on those numbers and I can attest that it was all true. Inventory is ridiculously low and the experts are calling the same for at least the next 2-3 years due to historically low interest rates and a lack of new construction. So, all of you buyers need to be approved for your loan and potentially expect multiple offers on homes priced perfectly, in a desirable location, and in great condition. Sellers, we just need more of you! 🙂
