Weekend Open Houses 6/21-6/24/19

Tap or click photo for a list of our weekend Open Houses

 

Posted on June 21, 2019 at 12:26 pm
Bellevue Commons | Category: Windermere Bellevue Commons News | Tagged ,

Local Market Update June

The pace of the housing market gained momentum in May, bringing an uptick in open house traffic and offers. A drop in interest rates and increased inventory were great incentives for buyers. Despite the increase in supply there is less than two months of inventory available – half the national average and far short of what is considered balanced. Industry experts are predicting a strong market as we segue into summer.

Eastside

>>>Click image to view full report.

The median price of a single-family home on the Eastside was $928,800 in May, down 3% from the same time last year and virtually unchanged from April. With a booming economy that continues to grow, news of Amazon’s expansion in Bellevue, the latest Microsoft acquisition and plans for a $1.2 billion office park in Redmond, demand for housing on the Eastside is unlikely to decrease any time soon.

King County

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Home sale activity in King County was brisk in May. According to a Windermere analysis, 7 out of 10 properties sold last month had 15 or fewer days on the market. More than half of the homes sold at or above list price. The median price of a single-family home was $700,000. While down 4% from the same time last year, that price was up about $22,000 from the previous month. Home to the fastest growing economy in the country,  King County is expected to draw even more buyers to the area this year.

Seattle

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Seattle employment continues to grow faster than in most of the country.  This has made the city a top location for workers, particularly millennials.  Demand has put a strain on available homes, reducing the supply to just seven weeks of inventory available. May home prices in Seattle were lower than they were a year ago, but showed a healthy increase from the previous month. The median price of a single-family home was $784,925 in May, down 5% from a year ago and up $30,000 from April.

Snohomish County

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In May, the median price of a single-family home in Snohomish County was $499,950. That number remains unchanged from a year ago, and also unchanged from March and April. Despite a 44% increase in inventory, the supply of homes for sale in this area is even tighter than in King County.  Brokers report that buyers are being drawn from King County and willing to trade a longer work commute for more affordable housing.

Posted on June 11, 2019 at 1:05 pm
Bellevue Commons | Category: Windermere Bellevue Commons News | Tagged , , , , , ,

Weekend Open Houses 5/31-6/3/19

Tap or click photo for a list of our weekend Open Houses

 

Posted on May 31, 2019 at 3:28 pm
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Eastside Market Update May 2019

Posted on May 13, 2019 at 3:51 pm
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Local Market Update May 2019

April brought good news for homebuyers. Inventory increased, prices continued to moderate and mortgage rates remained low. While buyers have more choices, there is still less than two months of inventory on the market. Demand is expected to remain strong as we head into the prime spring real estate season.

Eastside

>>>Click image to view full report.

The median price of a single-family home on the Eastside was $927,500 in April, down 2% from the same time last year. The economy here remains robust, particularly in the tech sector. After snapping up substantial real estate in Bellevue earlier this year, Amazon announced in April it would lease two more towers. Buyer demand and scarce inventory are keeping the Eastside market competitive.

King County

>>>Click image to view full report.

With the number of homes for sale in King County up 78% over last year, buyers have more choices and a bit more time to make a decision. However, there is still less than two months of inventory, half the national average. The median price of a single-family home in April was $690,000. That figure was down 5% from the same time last year, but up from the $677,725 median price in March.

Seattle

>>>Click image to view full report.

With one of the strongest economies in the nation, demand here remains solid. While the number of homes for sale continued to rise, there is just five weeks of available inventory, far short of the four to six months that is considered balanced. The median price of a single-family home in Seattle hit $754,000 in April, down 8% from a year ago and up slightly from the prior month.

Snohomish County

>>>Click image to view full report.

In Snohomish County, the median price of a single-family home fell by 1% from a year ago to $500,000, the same figure posted in March. A 57% increase in inventory combined with low interest rates have created a strong beginning to the spring market.

This post originally appeared on GetTheWReport.com

Posted on May 13, 2019 at 3:47 pm
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Weekend Open Houses 3/1-3/3/19

Tap or click photo for a list of our weekend Open Houses

Posted on March 1, 2019 at 4:37 pm
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Weekend Open Houses 2/1-2/3/19

Tap or click photo for a list of our weekend Open Houses

Looks like the first weekend of February is showing signs of a busy month. WBC agents brought five new listings to the market this week and are hosting 17 open houses this weekend. For a complete list of MLS#s, addresses, and features, tap or click the image above.

Posted on February 1, 2019 at 11:26 am
Bellevue Commons | Category: Bellevue News, Open Houses, Windermere Bellevue Commons News | Tagged , ,

What’s Happening in the Market? The Final Numbers for December 2018

The 2018 Real Estate market has certainly been a little bit of roller coaster ride of late, but the final numbers for December do not reflect a depressed marketplace that the Seattle Times would have people to believe. Every area noted in the report shows that median home prices are up at least 4.3% year over year while many areas have dramatically increased primarily due to new construction and infill building. On average, market times have been relatively stable. We can expect to see them seasonally drop as we move further from the holiday season and the Spring market ramps up demand.

This report is based on Residential and Condominium sales activities on the Eastside.

 

Posted on January 9, 2019 at 9:40 am
Bellevue Commons | Category: Bellevue News, Forecasts, Home Selling, Market Stats, New Year, Windermere Bellevue Commons News | Tagged , , ,

What Happened in the Market Last Month?

May 2018’s Median closed sales price saw a 14% increase from $754k to $856k.

Last month brought some long-awaited, positive news for buyers with May posting the most new listings in over a decade. Despite the uptick in inventory, most homes are selling in less than a month. Prices haven’t been impacted either, with the majority of the region continuing to experience double-digit home price increases.

The median home price on the Eastside hit an all-time high of $960, 000 in May; a 10 percent gain over the same time last year. While there were a third more homes for sale in May than a year ago, the area still had only about a month of available inventory. Three to six months is considered a balanced market. Redmond, a city with a population of 64,000, currently has only 51 single-family homes on the market.

  • Buyers can be a little more picky, more listings are coming, but they still are going to have to be aggressive with their offers.
  • 58% sold for over list price and 83.4% sold in less than 15 days. However these are the properties that sold.
  • 82% sold in 15 days or less.
  •  Sellers may want to be cautious about pushing their asking price.

 

Posted on June 27, 2018 at 3:30 pm
Bellevue Commons | Category: Bellevue News, Home Buying, Home Selling, Market Stats, Windermere Bellevue Commons News | Tagged , , , ,

Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!

BUYING OR SELLING A HOME?

See how hiring a Real Estate Professional can benefit you. 

 

 

Whether you are buying or selling a home it can be quite the adventure, which is why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal. But in this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO.’

The 5 reasons you NEED a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.

 

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperwork necessary to make your dream a reality.

 

2. Ok, so you found your dream house, now what?

There are over 180 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to make sure that you achieve your dream?

 

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. After looking at the list of parties that you will need to be prepared to negotiate with, you’ll soon realize the value in selecting a real estate professional. From the buyers (who want the best deals possible), to the home inspection companies, all the way to the appraisers, there are at least 11 different people who you will need to be knowledgeable of, and answer to, during the process.

 

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the amount of time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to a study by Collateral Analytics, FSBOs achieve prices significantly lower than those from similar properties sold by real estate agents:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

Get the most out of your transaction by hiring a professional.

 

5. Do you know what’s really going on in the market?

There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

 

Bottom Line

You wouldn’t replace the engine in your car without a trusted mechanic, so why would you make one of the most important financial decisions of your life without hiring a real estate professional?

 

Source: keepingcurrentmatters.com 
Posted on February 19, 2018 at 10:41 am
Bellevue Commons | Category: Home Buying, Home Selling, Windermere Bellevue Commons News | Tagged , , , , , , , , ,