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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
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SEATTLE
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KING COUNTY
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SNOHOMISH COUNTY
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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
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SEATTLE
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KING COUNTY
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SNOHOMISH COUNTY
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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
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SEATTLE
|
KING COUNTY
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SNOHOMISH COUNTY
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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
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SE
ATTLE
|
KING COUNTY
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SNOHOMISH COUNTY
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What I’m Seeing – August 2020
July stats reflect last month’s strong real estate market with increases in price and value and a decrease in the number of days on market. So far August feels more like our traditional summer market. I’m starting to see signs of things calming down a bit, with fewer multiple offers bringing a welcome reprieve to fatigued buyers. Inventory remains tight so it’s still an excellent time to sell, but as always, pricing and “market-readiness” remain key for a successful sale.
I’m excited to be wrapping up sales of Toll Brother’s luxury townhomes at Crosswater. My new construction estate homes on acreage in Redmond are nearing completion. I have a gorgeous new view listing in Bellevue Towers and a well-priced 2 bedroom condo in Renton. Give me a call if you’d like additional information on any of these opportunities!
BY THE NUMBERS
Click the images below to download your neighborhood’s recent real estate figures!
| EASTSIDE
|
SEATTLE
|
KING COUNTY
|
SNOHOMISH COUNTY
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What I’m Seeing – July 2020
The past few weeks I’ve had the pleasure of working with buyers across the price-spectrum – from investors looking for $300k condos to buyers in the $2M+ range. Inventory remains tight across the board. Sellers that have pre-inspected, prepped/staged their homes, and priced them appropriately, are getting a great response. However, if a property is overpriced or ill-prepared, it’s likely to sit. The good news is that savvy sellers can benefit from the critical inventory shortage and patient, well-prepared buyers have an opportunity to find hidden gems. Whether trying to determine the best price to sell your home or how to prevail as a buyer in a multiple offer situation, working with an experienced Realtor is key. I’d love to help.
On another note, if your mortgage is over 3.5% on your primary residence, you may benefit from refinancing as interest rates hit a new low this week. Please contact me if you need a referral to a trusted lender.
BY THE NUMBERS
Click the images below to download your neighborhood’s recent real estate figures!
| EASTSIDE
|
SEATTLE
|
KING COUNTY
|
SNOHOMISH COUNTY
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What I’m Seeing – June 2020
As restrictions ease, real estate is normalizing, also. New sales in King County were the same last week as a year ago. Inventory remains limited so it’s an excellent time to sell. For buyers, competition is highly dependent on the area and price point. Being conditionally approved for a mortgage (rather than simply pre-approved) can greatly increase the odds of a successful outcome. Please contact me if you need a referral to a trusted lender or would like a complimentary market analysis. I’d be happy to help.
BY THE NUMBERS
Click the images below to download your neighborhood’s recent real estate figures!
| EASTSIDE
|
SEATTLE
|
KING COUNTY
|
SNOHOMISH COUNTY
|
What I’m Seeing – May 2020
The big news this month is that builders are back to work! With low-interest rates and some builders offering incentives, now is a great time to consider new construction.
The resale market is very price-sensitive with well-priced listings moving quickly. Bullish Sellers, on the other hand, are seeing extended market time even in our low-inventory environment.
There are some great opportunities for buyers, but due to safety concerns, many Sellers are requesting lender pre-approval before they allow their home to be shown. Please contact me for a referral to a trusted loan officer.
Finally, a word caution for Sellers considering forbearance: there is likely to be a negative impact on your credit for doing so that could prevent your ability to refinance for at least a year. Please be sure to read all documents thoroughly and check with a reliable resource before signing. 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
|
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 people in the home at a time, including the agent. I feel fortunate to be able to work and I take the protection of my clients and the public very seriously.
In terms of the market, although the pace has slowed a bit, well-presented and appropriately priced homes continue to sell quickly, sometimes with more than one offer. That said, the buyer pool has understandably shrunk, decreasing the previously intense demand and creating an opportunity for serious buyers looking to take advantage of less competition and favorable interest rates.
As always, I’m here to help, please don’t hesitate to reach out with questions. In the meantime, stay safe and be well. Home has never been a more meaningful place to be.
BY THE NUMBERS
Click the images below to download your neighborhood’s recent real estate figures!
| EASTSIDE
|
SEATTLE
|
KING COUNTY
|
SNOHOMISH COUNTY
|
Local Market Update – July 2018
The local real estate market looks like it might finally be showing signs of softening, with inventory up and sales down. More sellers have opted to put their homes on the market. Inventory was up 47 percent in King County and price increases were in the single digits. Despite the increase in inventory and slowdown in sales, it’s still a solid seller’s market. Over half the properties purchased in June sold for more than list price.
Eastside
>>>Click image to view full report.
A booming economy offered little price relief for buyers looking on the Eastside. In a recent study of economic strength by state, Washington ranked number one in the country. An additional report targeting cities ranks the Seattle-Bellevue-Tacoma market as the nation’s fourth strongest economy. The median price of a single-family home on the Eastside rose 10 percent over a year ago to $977,759 setting another record. There is some good news for buyers. Inventory rose to its highest level in three years, with the number of homes for sale increasing 46 percent from the same time last year.
King County
>>>Click image to view full report.
The number of homes on the market in King County soared 47 percent from a year ago, the biggest increase since the housing bubble burst. Despite the increase, there is just over one month of available inventory, far short of the four to six months that is considered a balanced market. The median price of a single-family home increased 9 percent over last June to $715,000. That’s down 2 percent from the $726,275 median in May. Home prices haven’t dropped from May to June in King County since the last recession.
Seattle
>>>Click image to view full report.
Seattle trails only Bay Area cities when it comes to greatest profits for home sellers. That may help explain the surge in inventory in June. For example, the number of homes for sale in the popular Ballard/Green Lake area doubled from a year ago. Even though buyers are finally getting more choices, demand still exceeds supply. Homes sell faster in Seattle than in any other U.S. real estate market. That demand propelled the median price of a single-family home to $812,500; up 8 percent over last June and down from the record $830,000 set in May.
Snohomish County
>>>Click image to view full report.
The largest jump in home prices in the region came in Snohomish County. While higher-priced markets in King County are seeing increases slowing slightly, the median price of a single-family home here jumped 14 percent to $511,500, a new high for the county. Buyers willing to “keep driving until they can afford it” are finding Snohomish County an appealing destination.
This post originally appeared on the WindermereEastside.com Blog.
