Sheri Putzke - Selling Real Estate in the Puget Sound and Palm Springs
Market Stats - real estate by the numbers

35%

OF HOMES SOLD ABOVE LIST PRICE

83%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.5

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_10_EAST

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of September 2024.

There is a saying in real estate that if you want business to pick up, just plan a vacation. That was certainly true last month as I sold 5 homes in the two weeks prior to leaving the country! My 2 listings received multiple offers and my 3 buyers found just the homes they wanted, at a great price and terms, without having to compete. My experience mirrors the September stats – inventory increased slightly and interest rates improved, creating opportunities for buyers. Prices didn’t change much due to increasing demand, so it remains a good time to sell.

The condo market in both Seattle and the Eastside is a bit of an anomaly. Despite increased inventory (Seattle is now firmly a buyer’s market for condos), the median price went up 12% on the Eastside to $690,000 and 9% in Seattle to $606,000. This may be due to the increase in the number of cottages and detached units (DADUs) that are technically considered condos and sell for higher prices. For traditional condos, lending has tightened up significantly since the condo collapse in Florida. Lenders and insurance companies are scrutinizing reserve studies, maintenance issues, and assessment potential. It’s critical to do your research and to work with an experienced agent and lender, particularly if you are considering an older complex.

30%

OF HOMES SOLD ABOVE LIST PRICE

72%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.9

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_10_SEA

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of September 2024.

There is a saying in real estate that if you want business to pick up, just plan a vacation. That was certainly true last month as I sold 5 homes in the two weeks prior to leaving the country! My 2 listings received multiple offers and my 3 buyers found just the homes they wanted, at a great price and terms, without having to compete. My experience mirrors the September stats – inventory increased slightly and interest rates improved, creating opportunities for buyers. Prices didn’t change much due to increasing demand, so it remains a good time to sell.

The condo market in both Seattle and the Eastside is a bit of an anomaly. Despite increased inventory (Seattle is now firmly a buyer’s market for condos), the median price went up 12% on the Eastside to $690,000 and 9% in Seattle to $606,000. This may be due to the increase in the number of cottages and detached units (DADUs) that are technically considered condos and sell for higher prices. For traditional condos, lending has tightened up significantly since the condo collapse in Florida. Lenders and insurance companies are scrutinizing reserve studies, maintenance issues, and assessment potential. It’s critical to do your research and to work with an experienced agent and lender, particularly if you are considering an older complex.

26%

OF HOMES SOLD ABOVE LIST PRICE

74%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.4

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_10_SNO

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of September 2024.

There is a saying in real estate that if you want business to pick up, just plan a vacation. That was certainly true last month as I sold 5 homes in the two weeks prior to leaving the country! My 2 listings received multiple offers and my 3 buyers found just the homes they wanted, at a great price and terms, without having to compete. My experience mirrors the September stats – inventory increased slightly and interest rates improved, creating opportunities for buyers. Prices didn’t change much due to increasing demand, so it remains a good time to sell.

The condo market in both Seattle and the Eastside is a bit of an anomaly. Despite increased inventory (Seattle is now firmly a buyer’s market for condos), the median price went up 12% on the Eastside to $690,000 and 9% in Seattle to $606,000. This may be due to the increase in the number of cottages and detached units (DADUs) that are technically considered condos and sell for higher prices. For traditional condos, lending has tightened up significantly since the condo collapse in Florida. Lenders and insurance companies are scrutinizing reserve studies, maintenance issues, and assessment potential. It’s critical to do your research and to work with an experienced agent and lender, particularly if you are considering an older complex.

35%

OF HOMES SOLD ABOVE LIST PRICE

83%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.5

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_10_EAST

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of September 2024.

There is a saying in real estate that if you want business to pick up, just plan a vacation. That was certainly true last month as I sold 5 homes in the two weeks prior to leaving the country! My 2 listings received multiple offers and my 3 buyers found just the homes they wanted, at a great price and terms, without having to compete. My experience mirrors the September stats – inventory increased slightly and interest rates improved, creating opportunities for buyers. Prices didn’t change much due to increasing demand, so it remains a good time to sell.

The condo market in both Seattle and the Eastside is a bit of an anomaly. Despite increased inventory (Seattle is now firmly a buyer’s market for condos), the median price went up 12% on the Eastside to $690,000 and 9% in Seattle to $606,000. This may be due to the increase in the number of cottages and detached units (DADUs) that are technically considered condos and sell for higher prices. For traditional condos, lending has tightened up significantly since the condo collapse in Florida. Lenders and insurance companies are scrutinizing reserve studies, maintenance issues, and assessment potential. It’s critical to do your research and to work with an experienced agent and lender, particularly if you are considering an older complex.

30%

OF HOMES SOLD ABOVE LIST PRICE

72%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.9

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_10_SEA

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of September 2024.

There is a saying in real estate that if you want business to pick up, just plan a vacation. That was certainly true last month as I sold 5 homes in the two weeks prior to leaving the country! My 2 listings received multiple offers and my 3 buyers found just the homes they wanted, at a great price and terms, without having to compete. My experience mirrors the September stats – inventory increased slightly and interest rates improved, creating opportunities for buyers. Prices didn’t change much due to increasing demand, so it remains a good time to sell.

The condo market in both Seattle and the Eastside is a bit of an anomaly. Despite increased inventory (Seattle is now firmly a buyer’s market for condos), the median price went up 12% on the Eastside to $690,000 and 9% in Seattle to $606,000. This may be due to the increase in the number of cottages and detached units (DADUs) that are technically considered condos and sell for higher prices. For traditional condos, lending has tightened up significantly since the condo collapse in Florida. Lenders and insurance companies are scrutinizing reserve studies, maintenance issues, and assessment potential. It’s critical to do your research and to work with an experienced agent and lender, particularly if you are considering an older complex.

26%

OF HOMES SOLD ABOVE LIST PRICE

74%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.4

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_10_SNO

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of September 2024.

There is a saying in real estate that if you want business to pick up, just plan a vacation. That was certainly true last month as I sold 5 homes in the two weeks prior to leaving the country! My 2 listings received multiple offers and my 3 buyers found just the homes they wanted, at a great price and terms, without having to compete. My experience mirrors the September stats – inventory increased slightly and interest rates improved, creating opportunities for buyers. Prices didn’t change much due to increasing demand, so it remains a good time to sell.

The condo market in both Seattle and the Eastside is a bit of an anomaly. Despite increased inventory (Seattle is now firmly a buyer’s market for condos), the median price went up 12% on the Eastside to $690,000 and 9% in Seattle to $606,000. This may be due to the increase in the number of cottages and detached units (DADUs) that are technically considered condos and sell for higher prices. For traditional condos, lending has tightened up significantly since the condo collapse in Florida. Lenders and insurance companies are scrutinizing reserve studies, maintenance issues, and assessment potential. It’s critical to do your research and to work with an experienced agent and lender, particularly if you are considering an older complex.

39%

OF HOMES SOLD ABOVE LIST PRICE

82%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.4

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Eastside Graph Aug 2024

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of August 2024.

August played out as I expected with the slower market reflected in a 4.3% reduction in the median price of a Single Family Residence (SFR) in both Seattle and the Eastside. The number of homes selling at or above list price also decreased a little in both areas and the length of time on market increased. While inventory is rising slowly throughout the Puget Sound, there remains a critical shortage of housing on the Eastside, with nearly all neighborhoods still considered a “seller’s market” for SFRs. Eastside condo inventory has risen enough to be entering a more balanced market. Seattle’s SFR inventory is approaching a “balanced market” and their condo market is now in “buyer’s market” territory.
As is typical, the real estate market picked up as soon as the kids went back to school and the Labor Day weekend ended. I received multiple offers on my recent listings, indicating demand is still strong. With the recent interest rate drop and the Feds expected to announce further reductions next week, demand is already up. It’s a great time to buy, despite the increased competition. For Sellers, it’s not too late to take advantage of our strong early Fall market! Let me know how I can help.
If you haven’t already, it’s time to schedule your annual furnace servicing and sprinkler winterization. Need a referral?  Give me a call!

31%

OF HOMES SOLD ABOVE LIST PRICE

78%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

2.0

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Seattle Aug 2024 Graph

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of August 2024.

August played out as I expected with the slower market reflected in a 4.3% reduction in the median price of a Single Family Residence (SFR) in both Seattle and the Eastside. The number of homes selling at or above list price also decreased a little in both areas and the length of time on market increased. While inventory is rising slowly throughout the Puget Sound, there remains a critical shortage of housing on the Eastside, with nearly all neighborhoods still considered a “seller’s market” for SFRs. Eastside condo inventory has risen enough to be entering a more balanced market. Seattle’s SFR inventory is approaching a “balanced market” and their condo market is now in “buyer’s market” territory.

As is typical, the real estate market picked up as soon as the kids went back to school and the Labor Day weekend ended. I received multiple offers on my recent listings, indicating demand is still strong. With the recent interest rate drop and the Feds expected to announce further reductions next week, demand is already up. It’s a great time to buy, despite the increased competition. For Sellers, it’s not too late to take advantage of our strong early Fall market! Let me know how I can help.

If you haven’t already, it’s time to schedule your annual furnace servicing and sprinkler winterization. Need a referral?  Give me a call!

32%

OF HOMES SOLD ABOVE LIST PRICE

79%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.2

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

SNO CO STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of August 2024.

August played out as I expected with the slower market reflected in a 4.3% reduction in the median price of a Single Family Residence (SFR) in both Seattle and the Eastside. The number of homes selling at or above list price also decreased a little in both areas and the length of time on market increased. While inventory is rising slowly throughout the Puget Sound, there remains a critical shortage of housing on the Eastside, with nearly all neighborhoods still considered a “seller’s market” for SFRs. Eastside condo inventory has risen enough to be entering a more balanced market. Seattle’s SFR inventory is approaching a “balanced market” and their condo market is now in “buyer’s market” territory.

As is typical, the real estate market picked up as soon as the kids went back to school and the Labor Day weekend ended. I received multiple offers on my recent listings, indicating demand is still strong. With the recent interest rate drop and the Feds expected to announce further reductions next week, demand is already up. It’s a great time to buy, despite the increased competition. For Sellers, it’s not too late to take advantage of our strong early Fall market! Let me know how I can help.

If you haven’t already, it’s time to schedule your annual furnace servicing and sprinkler winterization. Need a referral?  Give me a call!

39%

OF HOMES SOLD ABOVE LIST PRICE

82%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.4

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Eastside Graph Aug 2024

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of August 2024.

August played out as I expected with the slower market reflected in a 4.3% reduction in the median price of a Single Family Residence (SFR) in both Seattle and the Eastside. The number of homes selling at or above list price also decreased a little in both areas and the length of time on market increased. While inventory is rising slowly throughout the Puget Sound, there remains a critical shortage of housing on the Eastside, with nearly all neighborhoods still considered a “seller’s market” for SFRs. Eastside condo inventory has risen enough to be entering a more balanced market. Seattle’s SFR inventory is approaching a “balanced market” and their condo market is now in “buyer’s market” territory.
As is typical, the real estate market picked up as soon as the kids went back to school and the Labor Day weekend ended. I received multiple offers on my recent listings, indicating demand is still strong. With the recent interest rate drop and the Feds expected to announce further reductions next week, demand is already up. It’s a great time to buy, despite the increased competition. For Sellers, it’s not too late to take advantage of our strong early Fall market! Let me know how I can help.
If you haven’t already, it’s time to schedule your annual furnace servicing and sprinkler winterization. Need a referral?  Give me a call!

31%

OF HOMES SOLD ABOVE LIST PRICE

78%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

2.0

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Seattle Aug 2024 Graph

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of August 2024.

August played out as I expected with the slower market reflected in a 4.3% reduction in the median price of a Single Family Residence (SFR) in both Seattle and the Eastside. The number of homes selling at or above list price also decreased a little in both areas and the length of time on market increased. While inventory is rising slowly throughout the Puget Sound, there remains a critical shortage of housing on the Eastside, with nearly all neighborhoods still considered a “seller’s market” for SFRs. Eastside condo inventory has risen enough to be entering a more balanced market. Seattle’s SFR inventory is approaching a “balanced market” and their condo market is now in “buyer’s market” territory.

As is typical, the real estate market picked up as soon as the kids went back to school and the Labor Day weekend ended. I received multiple offers on my recent listings, indicating demand is still strong. With the recent interest rate drop and the Feds expected to announce further reductions next week, demand is already up. It’s a great time to buy, despite the increased competition. For Sellers, it’s not too late to take advantage of our strong early Fall market! Let me know how I can help.

If you haven’t already, it’s time to schedule your annual furnace servicing and sprinkler winterization. Need a referral?  Give me a call!

32%

OF HOMES SOLD ABOVE LIST PRICE

79%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.2

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

SNO CO STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of August 2024.

August played out as I expected with the slower market reflected in a 4.3% reduction in the median price of a Single Family Residence (SFR) in both Seattle and the Eastside. The number of homes selling at or above list price also decreased a little in both areas and the length of time on market increased. While inventory is rising slowly throughout the Puget Sound, there remains a critical shortage of housing on the Eastside, with nearly all neighborhoods still considered a “seller’s market” for SFRs. Eastside condo inventory has risen enough to be entering a more balanced market. Seattle’s SFR inventory is approaching a “balanced market” and their condo market is now in “buyer’s market” territory.

As is typical, the real estate market picked up as soon as the kids went back to school and the Labor Day weekend ended. I received multiple offers on my recent listings, indicating demand is still strong. With the recent interest rate drop and the Feds expected to announce further reductions next week, demand is already up. It’s a great time to buy, despite the increased competition. For Sellers, it’s not too late to take advantage of our strong early Fall market! Let me know how I can help.

If you haven’t already, it’s time to schedule your annual furnace servicing and sprinkler winterization. Need a referral?  Give me a call!

43%

OF HOMES SOLD ABOVE LIST PRICE

87%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.2

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

EASTSIDE STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

34%

OF HOMES SOLD ABOVE LIST PRICE

82%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

2.0

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

SEATTLE STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

35%

OF HOMES SOLD ABOVE LIST PRICE

83%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.3

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

SNO CO STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

43%

OF HOMES SOLD ABOVE LIST PRICE

87%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.2

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

EASTSIDE STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

34%

OF HOMES SOLD ABOVE LIST PRICE

82%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

2.0

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

SEATTLE STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

35%

OF HOMES SOLD ABOVE LIST PRICE

83%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.3

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

SNO CO STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

50%

OF HOMES SOLD ABOVE LIST PRICE

90%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.2

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_07_EAS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of June 2024.

June’s Eastside Single Family Residence (SFR) stats reflect the expected summer slowdown due to increasing inventory and decreased buyer activity. The SFR median price went down around 4% to $1,635,000 and market times are starting to lengthen. In Seattle, the SFR median price decreased slightly to $957,000 and there was a small increase in market times. As Seattle tends to lag the Eastside, I expect this trend to accelerate in the next couple of months.

The condo market in both areas is experiencing more marked change.  On the Eastside, the median cost of a condo decreased $111,000 (15%) to $637,500. That is a more significant change than would be accounted for by our typical seasonal slowdown.  Since condo demand still exceeds supply on the Eastside, it remains to be seen if it’s a one-off occurrence or the beginning of a trend. As anticipated, the notable increase in Seattle condo listings has created a “buyer’s market” wherein inventory now exceeds supply. The median cost decreased $50,000 to $550,000 and I expect this trend to continue.

Interest rates and buyer competition both dropped in June, but inventory is up, making it an excellent time to buy! If you or someone you know is looking, I’d love to help. For SFR sellers, demand still outstrips supply so while it may take longer to sell your home, if it is well-prepared and expertly marketed, the market is still strong.  If you’re planning to wait for the more robust early-Fall market, now is the time to prepare your home. I’d be happy to help you determine how best to prioritize your pre-listing tasks.

39%

OF HOMES SOLD ABOVE LIST PRICE

88%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.7

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_07_SEA

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of June 2024.

June’s Eastside Single Family Residence (SFR) stats reflect the expected summer slowdown due to increasing inventory and decreased buyer activity. The SFR median price went down around 4% to $1,635,000 and market times are starting to lengthen. In Seattle, the SFR median price decreased slightly to $957,000 and there was a small increase in market times. As Seattle tends to lag the Eastside, I expect this trend to accelerate in the next couple of months.

The condo market in both areas is experiencing more marked change.  On the Eastside, the median cost of a condo decreased $111,000 (15%) to $637,500. That is a more significant change than would be accounted for by our typical seasonal slowdown.  Since condo demand still exceeds supply on the Eastside, it remains to be seen if it’s a one-off occurrence or the beginning of a trend. As anticipated, the notable increase in Seattle condo listings has created a “buyer’s market” wherein inventory now exceeds supply. The median cost decreased $50,000 to $550,000 and I expect this trend to continue.

Interest rates and buyer competition both dropped in June, but inventory is up, making it an excellent time to buy! If you or someone you know is looking, I’d love to help. For SFR sellers, demand still outstrips supply so while it may take longer to sell your home, if it is well-prepared and expertly marketed, the market is still strong.  If you’re planning to wait for the more robust early-Fall market, now is the time to prepare your home. I’d be happy to help you determine how best to prioritize your pre-listing tasks.

44%

OF HOMES SOLD ABOVE LIST PRICE

91%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.3

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

Local-Market-Update-Graph_2024_07_SNO

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of June 2024.

June’s Eastside Single Family Residence (SFR) stats reflect the expected summer slowdown due to increasing inventory and decreased buyer activity. The SFR median price went down around 4% to $1,635,000 and market times are starting to lengthen. In Seattle, the SFR median price decreased slightly to $957,000 and there was a small increase in market times. As Seattle tends to lag the Eastside, I expect this trend to accelerate in the next couple of months.

The condo market in both areas is experiencing more marked change.  On the Eastside, the median cost of a condo decreased $111,000 (15%) to $637,500. That is a more significant change than would be accounted for by our typical seasonal slowdown.  Since condo demand still exceeds supply on the Eastside, it remains to be seen if it’s a one-off occurrence or the beginning of a trend. As anticipated, the notable increase in Seattle condo listings has created a “buyer’s market” wherein inventory now exceeds supply. The median cost decreased $50,000 to $550,000 and I expect this trend to continue.

Interest rates and buyer competition both dropped in June, but inventory is up, making it an excellent time to buy! If you or someone you know is looking, I’d love to help. For SFR sellers, demand still outstrips supply so while it may take longer to sell your home, if it is well-prepared and expertly marketed, the market is still strong.  If you’re planning to wait for the more robust early-Fall market, now is the time to prepare your home. I’d be happy to help you determine how best to prioritize your pre-listing tasks.

43%

OF HOMES SOLD ABOVE LIST PRICE

87%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.2

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

EASTSIDE STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

34%

OF HOMES SOLD ABOVE LIST PRICE

82%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

2.0

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

SEATTLE STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

35%

OF HOMES SOLD ABOVE LIST PRICE

83%

OF HOMES SOLD WITHIN 30 DAYS OR LESS

1.3

MONTHS SUPPLY OF AVAILABLE HOMES*

Median Closed Sales Price

SNO CO STATS

*Months supply of available homes is calculated by dividing active inventory at the end of the month by pending. Pending sales are mutual purchase agreements that haven't closed yet.

**Graphs were created using data provided by Windermere Real Estate and NWMLS, but the information was not verified or published by NWMLS. Data reflects all new and resale single-family home sales, which include townhomes and exclude condos, for the month of July 2024.

There were no major changes, statistically, in our local real estate market from June to July. On the Eastside, both Single Family Residence (SFR) and condo median prices dipped slightly. This was expected as inventory typically goes up and buyer activity slows in summer. However, despite the same seasonal situation in Seattle, the median prices of SFRs and condos both increased 1.6% in July.  Though not a large difference, it’s particularly surprising for Seattle condos which now have 4 months of inventory, indicating a “buyer’s market” is forming. I believe Seattle’s median price increases are an anomaly and I expect that we will see an adjustment next month.

The big news in real estate this month is the recent decrease in interest rates!  We reached a 15-month low based on expectations that the Fed will decrease rates when they meet in September. This has created great opportunities for buyers to take advantage of better rates AND more inventory to choose from before the market heats up again. Waiting for further interest rate drops is a gamble, but it’s certain that if they continue to improve more buyers will enter the market and competition will increase. Now is also an excellent time for those considering purchasing a second home to start searching as that market tends to have more inventory. (If you’re buying out of the area, I can refer you to an excellent colleague to help with your search.)

Our real estate market typically picks up in early Fall as vacations end and school starts. I encourage sellers looking to take advantage of that market to get in touch now to discuss how to maximize their efforts. As always, I’m happy to help!

Sheri Putzke Real Estate Agent in Front of Art Palm Springs
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