Local Market NewsStatistics June 11, 2021

What I’m Seeing – June 2021

Apparently I wasn’t the only one who noticed Seattle had good opportunities for buyers – since I wrote about it in April, the median sales price has increased over $90,000 – that’s 20% higher than it was a year ago.  The median sales price on the Eastside has remained stable the last few months, but it’s over 30% higher than a year ago. What this means for buyers is that “waiting until things cool down” is proving to be a flawed strategy. On the Eastside, the median price of a home is now over $350,000 higher than a year ago. The vast majority of buyers could never save enough in a year to offset that difference.

No one can predict the future, of course, but I see no reason to expect a significant change in inventory any time soon. We will likely continue see seasonal fluctuations, but with demand continuing to outstrip supply, at best we may see a slower increase, rather than an actual decline, in prices. There is no doubt that it takes persistence and motivation for buyers to prevail in our hot real estate market, but clearly there is a cost associated with waiting. Let’s chat about how I can help you accomplish your goals.

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics May 12, 2021

What I’m Seeing – May 2021

April was an exciting month for sellers on the Eastside as over 80% of homes sold over their list price. On the positive side for buyers, inventory (though still critically low) increased significantly, and the median price of homes dipped a little from $1.35M to $1.3M for single-family homes and from $575,000 to $525,000 for condos.  In Seattle, inventory was only slightly higher last month and the median price increased by $50,000.

Strategic pricing is still critical for sellers as Buyers are factoring an increase to the list price in their search and passing on listings that are priced at recent, escalated sales prices. Well-priced, professionally marketed homes sell quickly in most price ranges/areas.

Working with an experienced Realtor matters whether you are buying or selling. I would love to help you achieve your real estate goals – just call, email, or text me.

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics April 13, 2021

What I’m Seeing – April 2021

Whether you are a numbers person or not, March statistics are hard to ignore. They mirror what I’m experiencing, working with buyers on both sides of the lake. Seattle is becoming an increasingly attractive option for homebuyers and investors focused on affordability as well as access to employment centers and amenities.  Here are a few key stats that illustrate why.

  • Active Listings – The Eastside had less than half the number of available homes at the end of March vs a year ago, a record low. Seattle had 20% lower for single-family homes, but the number of available condos was actually 50% higher than last March.
  • March Price Escalation – Over ¾ of Eastside closed sales went over the list price. For Seattle, only about half sold for more. The amount they escalated was also higher on the Eastside than in Seattle.
  • Affordability – so far this year over 70% of closed sales in Seattle were under $1M vs only 30% on the Eastside.

Waiting for a “better time to buy” is proving costly for buyers as the median price of a home increased $35,000 in Seattle and over $300,000 on the Eastside vs a year ago. Well-prepared, engaged buyers prevail as “casual” buyers are being left by the wayside. Unlike single-family homes, condos continue to be well-priced in both areas. First time home buyers, downsizers, and buyers weary of losing out to bidding wars are finding welcome relief in the less competitive condo market.

Despite the lack of inventory, overpricing a home can cost a seller both time and money. If a listing doesn’t sell within two weeks, it typically does not sell for over the list price and often will sit for weeks without an offer.  Well-priced homes sell quickly and for more than list price, usually with multiple offers.

Looking ahead, May is shaping up to be an exciting month as I will be listing several homes at a variety of price points.  If you are considering jumping into the market, I’d love to help you procure your dream home or maximize the return on your sale!

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics March 10, 2021

What I’m Seeing – March 2021

In my 15 years as a Realtor, this is the strongest seller’s market I have seen. That said, it is important to understand that there is a significant difference between the condo and single-family markets, particularly in Seattle. For condo sellers, this means it’s important to properly prepare and price your home to get top dollar.

While still low, condo inventory is twice as high as single-family so there are some good opportunities for buyers. For sellers of single-family homes, February numbers reflect what I am experiencing – there is record low inventory and the median price continues to increase. I encourage everyone to look at the stats below and give me a call if I can answer any questions or help you evaluate your options.

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics February 10, 2021

What I’m Seeing – February 2021

The excitement continues! This past month I helped 2 of my buyers secure their dream homes despite multiple offers, 3 of my new listings sold before hitting the market, and 2 more sold within days with multiple offers. I have several more listings coming this month and I anticipate more of the same.

I’m beginning to feel like a broken record, but my recent experiences have proven again that preparation is key in this fast-paced market. In order to be competitive in a multiple offer situation, buyers often feel the need to waive conducting their own inspection. Therefore, buyers looking to minimize their risk are gravitating toward homes that have been pre-inspected by the seller. From the seller’s perspective, pre-inspecting means more buyers feel confident making an offer.

Interest rates dipped a bit recently making it an excellent time to buy and continuing inventory constraints make it a fabulous time to sell. As always, let me know if I can help!

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics January 12, 2021

What I’m Seeing – January 2021

As I expected, we are continuing to see a very strong seller’s market with incredible demand from buyers resulting in favorable outcomes for sellers. My two most recent listings sold above list price in less than a week with a total of 35 offers! With such a competitive market for buyers, it’s critical to be well-prepared and use an experienced agent. If you are considering a change, let’s strategize to get the best result for you, too!

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics December 16, 2020

What I’m Seeing – December 2020

2020 continues to keep us on our toes. For a short time open houses were allowed, but currently, we are only able to show homes by appointment. Fortunately, we are still able to sell homes safely by taking appropriate precautions. Given the continuing inventory shortage, it’s important for buyers to plan ahead and be flexible as appointments often fill up quickly. With fewer people traveling for the holidays, I expect home sales to remain brisk into the new year, which is great news for sellers!

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics November 11, 2020

What I’m Seeing – November 2020

Despite election uncertainties, our real estate market remained robust. Continuing inventory constraints have prompted buyers to be more creative, extending their search areas and considering presale and off-market new construction options. I have traveled from Quincy to Enumclaw to Auburn the past few weeks, successfully helping my buyers find new primary or secondary homes. Are you looking for a change? I’d love to help you, too!

 

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics October 12, 2020

What I’m Seeing – October 2020

Wow, what a market! With online schooling and more people working from home, I am seeing a real shift in housing needs. Many people now require multiple spaces to accommodate these lifestyle changes. Rural properties have never been hotter as buyers seek more space, both inside and outside. I had a record number of closings in September and multiple offers on my listings. My buyer activity this month indicates that trend will continue. If you would like to discuss your short or long term real estate plans, I’d love to help!

 

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SEATTLE

KING COUNTY

SNOHOMISH COUNTY

Local Market NewsStatistics September 12, 2020

What I’m Seeing – September 2020

Incredibly attractive interest rates continue to increase buying power. I anticipate some relief for buyers struggling with low inventory with more homes coming on the market as people settle into their post-summer routines. If you are considering a change this year, please reach out so we can discuss how I can help!

 

BY THE NUMBERS

Click the images below to download your neighborhood’s recent real estate figures!

 

EASTSIDE

SE

ATTLE

KING COUNTY

SNOHOMISH COUNTY