Greater Seattle Real Estate Trends for November, 2016
The sales pattern that led to pretty significant home value appreciation last winter is again falling into place this winter. To recap what happened last year… in a nutshell, sellers took the holidays off while buyers remained persistent in their efforts to find a home. Over the last quarter of 2015, the inventory of available single family homes fell by 56% while the volume of closed sales only fell by 18%; this led to the most favorable selling conditions I’ve tracked since
Greater Seattle Real Estate Trends for October, 2016
The supply of Seattle single family homes for sale, an indicator for where home values may be going, rose above one month for the first time
Greater Seattle Real Estate Trends for September, 2016
Fair warning, this update is a little long, but there are reasons for that! Part of the reason this post is a bit long, is that I’m a little overdue with my ‘monthly’ Greater Seattle real estate trends update… I’ve been kept quite busy with my primary work functions and commitments to the MLS and NWIBA Board of Directors. And truth be told, after my primary work functions and commitments, I frankly just want to spend time away from work with my wife and nearly two year old da
Greater Seattle Real Estate Trends for June, 2016
Some interesting things are going on in Seattle and around the King County area. Closed sales in May marked the fourth straight month where the median selling price of single family homes has been between $620,000 - $625,000. Still, the $625,000 median selling price in May was a 13.7% increase compared to the same time last year. As of June 1st, in Seattle, there were 612 actively listed single family homes for sale, which was a 5.4% drop compared to last year. Closed sales
Greater Seattle Real Estate Trends for May, 2016
Home prices have held steady over the past couple months in Seattle, while the median price of single family homes has increased 4.9% King County wide since February. Sales of Seattle single family homes tallied 724 sales in April with a median selling price of $624,088, which represents a 15.7% increase compared to April of 2015. The volume of closed sales lagged behind last year, making April the third out of the last four months and fifth time in the last seven months that
Greater Seattle Real Estate Trends for March, 2016
The median selling price of single family homes in Seattle surpassed $600,000 in February, as a lack of supply and a strong job market continued to push prices higher. February’s $625,000 median selling price was a whopping 27.5% increase compared to last year and a 6.8% increase compared to a month prior. Much of the dramatic increase can likely be tracked back to the beginning of the year, when many of the sales in February first went under contract during a period where su
Greater Seattle Real Estate Trends for February, 2016
The Greater Seattle real estate market picked up in 2016 right where it left off, and the consensus amongst analysts is another year of price gains in Seattle. The simple explanation continues to be a lack of inventory and strong demand keeping an upward pressure on prices, and the data suggests that relationship will continue to push home values higher in 2016. The picture I chose for this blog post tells the story pretty plainly. It’s a picture I took of a stack of business
Greater Seattle Real Estate Trends – 2015 Year in Review
Unless you’ve been hiding under a rock, you’ve probably noticed that real estate has been hot around the Greater Seattle real estate market. Whether you currently own a home or have been thinking about purchasing a home or condo, here are some of the important Greater Seattle real estate trends to close out 2015. First and foremost, Seattle has one of the top job markets in the nation. Our unemployment rate is extremely low, and people continue to move here for jobs. The st
Greater Seattle Real Estate Trends for November, 2015
My monthly updates are feeling more and more mundane with every passing month; it feels like I’m trying to find new ways to say the same thing month after month. Though I’ll touch on some of the core stats, I think I would rather use this month’s update to discuss a specific strategies/idea for current homeowners to consider. Next month, I think I’ll touch on some options I have for buyers struggling with not finding many suitable options, though buyers can feel free to reach
