Quarterly Reports: Q2 North King

Q2: April 1 – June 30, 2018

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade!

Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 13% year-over-year. We currently sit at 1.1 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 16 days and the average list-to-sale price ratio was 103%.

North King County real estate has a very high premium due to close-in commute times and vibrant neighborhoods. In fact, the median price in June was $800,000. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth.

This is only a snapshot of the trends in north King County; please contact us if you would like further explanation of how the latest trends relate to you.

 

 

 

 

 

Posted on July 19, 2018 at 10:15 am
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports

Quarterly Reports: Q2 South Snohomish

Q2: April 1 – June 30, 2018

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade!

Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 13% year-over-year. We currently sit at 1.3 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 11 days and the average list-to-sale price ratio was 102%.

South Snohomish County real estate has been an affordable option compared to “in-city” real estate. In fact, the median price in June was 41% higher in Seattle Metro. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth.

This is only a snapshot of the trends in south Snohomish County; please contact us if you would like further explanation of how the latest trends relate to you.

 

 

Posted on July 17, 2018 at 3:56 pm
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports

Quarterly Reports: Q1 North Snohomish

Q1: January 1 – March 31, 2018

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory.

In fact, there was a 54% increase in new listings in March compared to February. That increase was matched by a 50% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio was 100%, and average days on market was 35 days. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 12% year-over-year.

North Snohomish County is one of the most affordable markets in the area. In fact, the median price in March was 28% higher in south Snohomish County. Buyers are migrating to the area, especially if they don’t have to commute into the city. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in north Snohomish County; please contact us if you would like further explanation of how the latest trends relate to you.

 

 

Posted on April 16, 2018 at 12:17 pm
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports

Quarterly Market Trends: Q1 South Snohomish

Q1: January 1 – March 31, 2018

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory.

In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (how the sale price relates to the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.5 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 15% year-over-year.

South Snohomish County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 47% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in south Snohomish County; please contact us if you would like further explanation of how the latest trends relate to you.

 

 

Posted on April 16, 2018 at 12:15 pm
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports

Quarterly Market Trends: Q1 North King County

Q1: January 1 – March 31, 2018

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory.

In fact, there was a 55% increase in new listings in March compared to February. That increase was followed by a 41% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (how the sale price relates to the list price) was 106%, indicating that multiple offers were the norm. We ended the quarter with 0.6 months of inventory based on pending sales. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 14% year-over-year.

North King County real estate has a very high premium due to close-in commute times and desirable neighborhoods. In fact, the median price in March was $808,000, up 4% from the month prior! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in north King County; please contact us if you would like further explanation of how the latest trends relate to you.

 

 

Posted on April 16, 2018 at 12:14 pm
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports

Quarterly Market Trends: Q1 Eastside

Q1: January 1 – March 31, 2018

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory.

In fact, there was a 54% increase in new listings in March compared to February. That increase was topped by a 58% rise in pending sales, illustrating very strong demand for housing on the Eastside. Last month, the average list-to-sale price ratio (how the sale price relates to the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 14% year-over-year.

Eastside real estate has a very high premium due to close-in commute times and desirable neighborhoods. In fact, the median price in March was $927,000! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends on the Eastside area; please contact us if you would like further explanation of how the latest trends relate to you.

 

 

Posted on April 16, 2018 at 12:11 pm
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports

Quarterly Market Trends: Q1 Seattle Metro

Q1: January 1 – March 31, 2018

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory.

In fact, there was a 69% increase in new listings in March compared to February. That increase was followed by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (how the sale price relates to the list price) was 105%, indicating that multiple offers were the norm. We ended the quarter with 0.6 months of inventory based on pending sales. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 16% year-over-year.

Seattle Metro real estate has a very high premium due to close-in commute times and vibrant neighborhoods. In fact, the median price in March was $800,000, up 5% from the month prior! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in the Seattle Metro area; please contact us if you would like further explanation of how the latest trends relate to you.

 

 

 

Posted on April 16, 2018 at 12:08 pm
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports

Quarterly Market Trends: Q1 South King County

Q1: January 1 – March 31, 2018

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory.

In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in south King County. Last month, the average list-to-sale price ratio (how the sale price relates to the list price) was 101%, indicating that multiple offers were the norm. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help to temper price growth, which is up 12% year-over-year.

South King County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 78% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in south King County; please contact us if you would like further explanation of how the latest trends relate to you.

 

 

Posted on April 16, 2018 at 12:01 pm
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports

Quarterly Market Trends: South King County

Q4 2017

Price growth was particularly strong in 2017! Median was up 13% and average price up 12% over 2016. Median price in 2017 landed at $405,000 and the average at $440,000. The average amount of days it took to sell a house in 2017 was 30 days which is 9% faster than 2016. The average list-to-sale price ratio over the last year was 100%, with the spring months as high as 102%! In 2017, inventory growth continued to be a challenge, with a 7% decrease in new listings compared to 2016. Even with inventory limitations there were 2% more sales! This phenomenon illustrates strong buyer demand and a need for more listings.

South King County real estate has seen a steady stream of buyers come our way due to affordability, reasonable commute times and quality of life. In fact, the median price in 2017 was 75% higher in Seattle Metro. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

This is only a snapshot of the trends in south King County; please contact me if you would like further explanation of how the latest trends relate to you.

Posted on January 30, 2018 at 9:53 am
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports | Tagged , , , , , , , , , , , , , , , , , ,

Quarterly Market Trends: Eastside

Q4 2017

Price growth was particularly strong in 2017! Median was up 15% and average price up 16% over 2016. Median price in 2017 landed at $865,000 and the average at $1,049,000. The average amount of days it took to sell a house in 2017 was 24 days, which is 17% faster than 2016. The average list-to-sale price ratio over the last year was 101%, with the spring months as high as 103%! In 2017, inventory growth continued to be a challenge, with a 4% decrease in new listings compared to 2016. Even with inventory limitations there were a near equal amount of sales! This phenomenon illustrates strong buyer demand and a need for more listings.

Demand for Eastside real estate has grown due to close proximity to job centers, great schools and quality of life. Over the last year, the Eastside was 70% more expensive than south Snohomish County and 22% over Seattle Metro. Historically low interest rates continue to drive the market as well, they have helped offset the increase in prices. Sellers are enjoying great returns due to this phenomenon and buyers are securing mortgages with minor debt service.

This is only a snapshot of the trends on the Eastside area; please contact us if you would like further explanation of how the latest trends relate to you.

 

Posted on January 19, 2018 at 4:08 pm
Windermere Real Estate North | Category: Local Market Analysis, Quarterly Reports | Tagged , , , , , , , , , , , , , , , , , ,