Local Market News

Local Market News, Statistics

What I’m Seeing – April 2020

I hope everyone is well and making the best of staying home. As with everything during this time, real estate is changing and evolving as we go. Governor Inslee recently deemed real estate as an essential service, so long as required precautions are followed. Showings are by appointment only and with a total of 2 […]
Local Market News, Real Estate, Real Estate Trends

Amid coronavirus concerns, Seattle homebuying frenzy continues

The condo a quarter-mile away from the Life Care Center of Kirkland — the long-term care facility at the epicenter of the U.S. novel coronavirus outbreak — hit the market at $365,000 last week, one day after the first resident of the nearby facility died of the flulike illness. By Monday, roughly 34 groups of […]
Local Market News, Statistics

What I’m Seeing – March 2020

Naturally the most frequent question I’m getting lately is about how the coronavirus is impacting our local market. So far, traffic remains brisk and multiple offers with escalations continue for well-presented listings. Savvy buyers are taking advantage of the increased buying power that historically low interest rates afford. Investors looking for a reprieve from stock […]
Local Market News, Statistics

What I’m Seeing – February 2020

Interest rates dropped again prompting buyers to leap off the fence resulting in multiple offers for well-priced, turnkey properties. Sellers – this is your sweet spot! Inventory is increasing daily but we are still far short of meeting buyer demand. Savvy sellers are rushing to get their homes on market and take advantage of this seasonal […]

Local Market News What I’m Seeing – April 2020 I hope everyone is well and making the best of staying home. As with everything during this time, real estate is changing and evolving as we go. Governor Inslee recently deemed real estate as an essential service, so long as required precautions are followed. Showings are by appointment only and with a total of 2 […]

Local Market News Amid coronavirus concerns, Seattle homebuying frenzy continues The condo a quarter-mile away from the Life Care Center of Kirkland — the long-term care facility at the epicenter of the U.S. novel coronavirus outbreak — hit the market at $365,000 last week, one day after the first resident of the nearby facility died of the flulike illness. By Monday, roughly 34 groups of […]

Local Market News What I’m Seeing – March 2020 Naturally the most frequent question I’m getting lately is about how the coronavirus is impacting our local market. So far, traffic remains brisk and multiple offers with escalations continue for well-presented listings. Savvy buyers are taking advantage of the increased buying power that historically low interest rates afford. Investors looking for a reprieve from stock […]

Local Market News What I’m Seeing – February 2020 Interest rates dropped again prompting buyers to leap off the fence resulting in multiple offers for well-priced, turnkey properties. Sellers – this is your sweet spot! Inventory is increasing daily but we are still far short of meeting buyer demand. Savvy sellers are rushing to get their homes on market and take advantage of this seasonal […]

Local Market News As Big Tech’s Eastside Presence Expands, Bellevue Preps For More Commuters Incorporated in 1953, during the heyday for cars, Bellevue was originally built for the automobile. Back then, planners designed wide six-lane arterials meant to move vehicles fast. The road grid creates 600-foot-wide superblocks on former farmland. Now, tremendous growth is straining transportation. Traffic stacks up during afternoon commutes, and Interstate 405 slows to a crawl. […]

Local Market News Eastside 2020 Growth Forecast Another banner year for the region has brought tremendous prosperity across a breadth of industries, a wealth of new jobs, flourishing tourism, and the welcoming of several large businesses into our cities. So, how is the Eastside poised to begin a new decade? Will this growth continue? To find out, 425 Business ditched the crystal […]

Local Market News Washington Ranked Best State Overall Some states shine in health care. Some soar in education. Some excel in both – or in much more. Considering numerous metrics and thousands of data points, a new study by the U.S. News and World Report ranks Washington state as number one in the nation. Using 71 different metrics and thousands of data points, […]

Local Market News What I’m Seeing – January 2020 2020 is off to a great start! We normally see a bit of a lull in January, but my open house traffic is already up significantly this month. In particular, I’m seeing heightened activity in the “affordable” range (under $1M). Extremely tight inventory and excellent rates are motivating buyers off the fence in what is shaping […]

Local Market News Local Market Update – September 2019 A decrease in inventory coupled with an increase in sales activity led to fewer options for home shoppers in August. There is some good news for would-be buyers as mortgage rates have dropped to their lowest level in three years. Demand remains high but there simply aren’t enough homes on the market. Brokers are hoping […]

Local Market News Local Market Update – August 2019 The real estate market continued to moderate in July. Inventory rose and home values softened, providing buyers with increased selection and more favorable pricing. With strong job growth and interest rates holding at below 4 percent, brokers expect the market to remain solid through fall. EASTSIDE The market remains strong on the Eastside. The current […]

Local Market News Local Market Update – July 2019 The market in our region appears to be moderating. Inventory is up, prices are relatively stable and homes are taking a bit longer to sell. However, with less than two months of available inventory, supply is still far short of demand. Steady buyer activity, low interest rates and a thriving economy are making for a […]

Local Market News Local Market Update – June 2019 The pace of the housing market gained momentum in May, bringing an uptick in open house traffic and offers. A drop in interest rates and increased inventory were great incentives for buyers. Despite the increase in supply there is less than two months of inventory available – half the national average and far short of […]

Local Market News Local Market Update – May 2019 April brought good news for homebuyers. Inventory increased, prices continued to moderate and mortgage rates remained low. While buyers have more choices, there is still less than two months of inventory on the market. Demand is expected to remain strong as we head into the prime spring real estate season. Eastside The median price of […]

Local Market News Eastside Market Review – First Quarter 2019 The spring home buying season started early this year. Open houses had increased attendance and bidding wars returned in March. Home prices in most of the region are about even with March of 2018. The Eastside median closed sales price decreased 1% from March 2018 ($831,000) to March 2019 ($825,000). Months supply of inventory decreased […]

Local Market News Local Market Update – April 2019 After months of softening, home prices began to rise in February. That trend continued in March. While prices in most areas were down from the same time last year, they increased over the prior month. New listings rose as well, offering buyers more options and more time to make the right choice. Despite the uptick […]

Local Market News Local Market Update – March 2019 The spring home buying season started early this year. Open houses had increased attendance and bidding wars returned. After months of softening, home prices in most of the region jumped significantly from the prior month. With just one month of data, we’ll have to wait and see if this is the start of a longer […]

Local Market News Local Market Update – February 2019 January brought more good news for homebuyers. Prices were down, inventory was up and interest rates hovered near a nine-month low. Those factors drove more buyers into the market and resulted in an uptick in sales for the month. We’ll see how this transitioning market evolves as we head into the prime Spring home buying […]

Local Market News Eastside Market Review – Fourth Quarter 2018 The Eastside Market Review is now available for the fourth quarter of 2018. Read the full report online by clicking the image below.

Local Market News Local Market Update – January 2019 A cool-down in prices and a surge in inventory spelled out good news for buyers in December. Median home prices throughout the region continued to moderate. The number of homes for sale more than doubled over a year ago. Condo inventory more than quadrupled. While we’re still far short of the four to six months […]

Local Market News Local Market Update – December 2018 The real estate market continued to improve for buyers in November. Interest rates dropped slightly, price increases slowed and inventory soared. It’s important to note that inventory increases, while significant, are being compared to the record low supply of last year. We’re still far short of the inventory needed for a truly balanced market, however […]