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Market Conditions

Found 50 blog entries about Market Conditions.

Are you on the fence on whether now is a good time to purchase a home? With low rates and better inventory than the area has seen in years, now is an excellent time to buy. In fact, according to Danny Forbes from Caliber Home Loans, it could cost you to wait. Here's a chart he sent detailing the costs of waiting in King County according to current projections of both home value and mortgage rates:

 

 

 

 

If you're ready to jump off that fence - give me call! I would love to assist you in all your real estate needs!

 

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Northwest Seattle Market Stats

Welcome! Here we'll look at statistics from 3 different neighborhoods in Northwest Seattle, and then also Seattle as a whole for comparison. The 3 neighborhoods we'll look at here are - Ballard, Blue Ridge/North Beach, and Greenwood + Broadview.

This first chart has the median sales price for the previous month, and data to compare from the same month for the previous 2 years 

 

The next chart has the overall price per square foot data for the previous month, and data to compare from the same month for the previous 2 years:

 

Next we'll look at the number of new listings for the previous month, and data to compare from the same month for the previous 2 years:

 

Now we'll look at

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There’s no shortage of advice online about the best time to list, and it all goes something like this: The vast majority of home sales occur when the weather heats up, and homes sold during this time of year tend to attract high prices. Conventional wisdom tells us it’s best to list early in the year. That way, you’re sure to benefit from the Spring peak in sales, and the premium pricing during the warmer months as well. List too late, we’re warned, and you could miss this warm weather bump.

At first blush, this conventional wisdom seems particularly wise. After all, there’s one thing that all homeowners looking to sell have in common — they want to do so as quickly as possible, and for as much money as possible. Listing early, in theory, means

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KIRKLAND, Washington (February 7, 2019) – Homebuyers around Washington state are making their
way back to the market, hoping to take advantage of improving inventory, attractive interest rates, and
more approachable sellers, according to officials with Northwest Multiple Listing Service.

Northwest MLS statistics for January show year-over-year improvement in the volume of new listings
and total inventory, along with moderating selling prices. Although fewer pending sales (mutually
accepted offers) were reported than a year ago (down about 3.3 percent), January was the smallest year over-
year decline since May 2018 when the drop was about 2.7 percent.

Commenting on the MLS statistics summarizing last month’s activity, broker Gary O’Leyar said
January’s

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Seattle Real Estate Trends

Here we are with the latest on how the market is going in Seattle and there's a lot of great information to share in the infographic below. Generally speaking, we're still short on inventory of homes for buyers to choose from. While inventory is down,  other key indicators are all showing gains due to the tight market. Need some insight on how this info applies to your plans? Contact me. 

By the way, look at those average sold prices. If they sold with The Cascade Team's full service for 1% listing fees, a condo seller would have saved over $12,000. A home seller would have saved over $17,000!

 

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“Information and statistics derived from Northwest Multiple Listing Service.”

  • Even as more homes come on the market for this popular sales season, they're flying off fast.
  • Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are in the driver's seat.

Spring homebuyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.

Even as more homes come on the market for this traditionally popular sales season, they're flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver's seat.

Northwest MLS figures for last month show a

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HOME VALUES & HOUSING TRENDS FOR 98117

Want more details? Subscribe to our Monthly Market Report. It's all about the current real estate market conditions in 98117, and it's FREE! Curious about your homes valueContact us today for a custom comparative market analysis (CMA) to help determine the valuation of your home.

Please note, that all references to average DAYS ON MARKET in these charts on this page represent the time a home was listed as "Active" in the MLS, and available for buyers to place offers.

Buyer's market = more than 6 months of inventory based on closed sales
Neutral market = 3 - 6 months of inventory based on closed sales
Seller's market = less than 3 months of inventory based on closed sales 

 

98117 HOME INVENTORY

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Northwest MLS brokers say home buyer frustration builds as inventory shrinks, prices rise

KIRKLAND, Washington (March 7, 2016) – Home prices in King County hit new highs in February as buyers tried to outbid each other for the sparse inventory in much of Western Washington.

"We’re in for another crazy spring real estate market," predicts J. Lennox Scott, chairman and CEO of John L. Scott, Inc.

With the number of single family homes for sale in King County down nearly 30 percent from a year ago, prices on last month’s sales surged 19.8 percent, jumping from $429,900 to $514,975. Ten other counties in the 23-county area served by Northwest Multiple Listing Service also reported double-digit price gains for single family homes that sold last month,

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The NWMLS recently sent out their annual summary of the year that was in Western Washington real estate. We probably don't need to tell you that most of those numbers are up, up, up. Especially if you've been trying to buy a house all year long. We perused the report, which was chocked full of numbers, and picked out some of the most shocking, revealing and fascinating numbers within.

1. 2015 saw 88,331 closed sales amongst NWMLS members in 2015, up 14.3 percent from 77,276 in 2014.

2. The value of every NWMLS member single-family home & condo sale was over $34 billion, up almost 23 percent from 2014.

3. Both of those numbers are higher than the previous highs of 2007 when the housing market peaked (don't ask what happened after that...).

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  • Prices up 7.3% YOY
  • Pending Transactions up 7.8%
  • Closed Sales up over 7%
  • Only 1.29 Months of Inventory for King County
  • 2015 is Busiest October in 10 Years

REAL ESTATE BROKERS EXPECT ONLY A MODEST HOLIDAY SLOWDOWN, SAYING STRONG ECONOMY, LOW INVENTORY MAKE THIS YEAR "DIFFERENT"

KIRKLAND, Washington (November 5, 2015) – With holidays approaching, real estate brokers usually expect a slowdown as buyers and sellers shift their attention elsewhere. "This year is different," say some industry leaders.

"Today we have one of the best markets we’ve ever seen for sellers," observed Ken Anderson, managing broker and owner at Coldwell Banker Evergreen in Olympia. "Buyers are still surging to the market and

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