King & Snohomish County Market Stats – May 2017

What’s Happening in the Market

Eastside (based on Residential and Condominium report):

  • Closed median price at an all-time high of $748,944, up 20% from a year ago

 

  • Price appreciation is being driven by low supply and high demand.  Eastside months’ supply of inventory is less than three weeks, the lowest ever!

 

  • 748 active listings as of 4/30/17.  Down 33% from the year before and 48% from two years before.

 

  • Scarcity has buyers paying above list price on 65% of the sales that closed in April.

 

  • What was the cost of waiting on year (April 2016 vs April 2017) to buy?  $123,944 in median price.  $9,026 per year in payment.

Posted on May 24, 2017 at 4:03 pm
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King & Snohomish County Market Stats – March 2017

What’s Happening in the Market

  • Closed median price at an all-time high of $736,500, up 20% from a year ago.

 

  • Price appreciation is being driven by low supply and high demand.  Eastside month’s supply of inventory is less than three weeks (0.7 months), the lowest ever.

 

  • 737 active listings as of 3/31/17.  Down 21% from last year and 42% from the year before.

 

  • Scarcity has buyers paying above list price on 61% of the sales that closed in March.

 

  • What was the cost of waiting on year (March 2016 vs March 2017) to buy?  $120,400 more in median price. Interest rates up .51%.  $769 a month more for the same home.

Posted on April 12, 2017 at 9:18 am
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King & Snohomish County Market Stats – February 2017

What’s Happening in the Market

Home sales continue to be slightly above last year’s totals in the areas tracked in this report.  We are continuing to see double digit price increases spread out from the core of Bellevue and Seattle due to the somewhat exorbitant prices now demanded from the metro area Sellers.

Low Inventory

Inventory hit an all-time low in February which at last count was 3 weeks of inventory if nothing new came on the market.  (That’s weeks, not months!) We do expect to see an increase in listings in March and April, but Sellers are still wary of putting their home on the market with nowhere to go. Buyers and Buyers agents are having to be creative with their offers as we are seeing at least 50% of the sales occurring are done in multiple offer situations. We don’t expect this to change anytime soon!

Posted on March 9, 2017 at 10:39 am
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Our Brokers Care!

We have the best real estate agents in our office! Thanks to our generous agents, we collected $3,700 to buy new toys and clothes for kids supported by Hopelink.

Each holiday season, Hopelink, the largest non-profit organization in Washington State, transforms its food banks into holiday gift rooms, offering new toys and new clothing to children in need.

Hopelink serves more than 64,000 homeless and low-income families, children, seniors and people with disabilities in north and east King County; providing stability and helping people gain the skills and knowledge they need to exit poverty for good.

Hopelink also provides transportation services throughout King and Snohomish Counties. With service centers in Redmond, Bellevue, Kirkland, Shoreline and Sno-Valley.

Posted on December 16, 2016 at 3:09 pm
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King & Snohomish County Market Stats – November 2016

What’s Happening In The Market

While we have seen a typical slowdown in transaction side during the holiday’s it is still very active and pricing seems to be holding steady during this last quarter.  While the political landscape has caused some uncertainty in many markets around the country it does not appear to have affected ours up to this point.  Interest rates having risen ½ point over the past couple weeks have caused some to start thinking about making a move now vs. later.  Buyers having lost more than 5% of their buying power due to the rate hike rightfully have concerns about them continuing to rise.

 

Single Family Homes Market Stats

November 2016 Residential Market Stats with Header


Condominiums Market Stats

November 2016 Condominium Market Stats

Posted on December 6, 2016 at 10:27 am
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