Local Market Analysis

Local Market Analysis

3 Reasons why we are NOT Headed Towards Another Bubble

Are we headed for another housing collapse? We get asked this question often, and we can understand why. With the 2008 Great Recession not too far back in our rear-view mirror it is understandable that folks don’t want history to repeat itself, as that was a very painful time for many. Also, price appreciation […]
Local Market Analysis

What You Need to Know About the Condo Market

Over the last two years, the affordability of Greater Seattle area real estate has become a rising concern. Many buyers have decided to move a bit more north or south of major job centers to find the price point that works for them, or have foregone a single family residence (SFR) and turned to […]
Local Market Analysis

Buyers: Keep Your Head Down, This May be Your Time

The first five months of 2017 have been a grind for buyers in our area. Inventory has been quite limited and demand has been off the charts. However, in the month of May we started to see things loosen up, with the highest rate of new listings coming to market in some time. Below are […]
Local Market Analysis

You’d Like to Sell Your Home, but Where to Next… and How?

Homeowners across our region are enjoying very healthy equity levels due to an upswing in the real estate market over the last five years. In fact, the median price in King County is up 50% over the last five years and up 47% in Snohomish County. This growth in equity has given homeowners the exciting […]

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Local Market Analysis 3 Reasons why we are NOT Headed Towards Another Bubble Are we headed for another housing collapse? We get asked this question often, and we can understand why. With the 2008 Great Recession not too far back in our rear-view mirror it is understandable that folks don’t want history to repeat itself, as that was a very painful time for many. Also, price appreciation […]

Local Market Analysis What You Need to Know About the Condo Market Over the last two years, the affordability of Greater Seattle area real estate has become a rising concern. Many buyers have decided to move a bit more north or south of major job centers to find the price point that works for them, or have foregone a single family residence (SFR) and turned to […]

Local Market Analysis Buyers: Keep Your Head Down, This May be Your Time The first five months of 2017 have been a grind for buyers in our area. Inventory has been quite limited and demand has been off the charts. However, in the month of May we started to see things loosen up, with the highest rate of new listings coming to market in some time. Below are […]

Local Market Analysis You’d Like to Sell Your Home, but Where to Next… and How? Homeowners across our region are enjoying very healthy equity levels due to an upswing in the real estate market over the last five years. In fact, the median price in King County is up 50% over the last five years and up 47% in Snohomish County. This growth in equity has given homeowners the exciting […]

Local Market Analysis Seattle, What’s the Big Deal? The headlines are everywhere proclaiming Seattle as the hottest housing market in the nation. Our humble city built on aerospace, trade, and influenced by a software engineer who donates millions, has found itself on the national map as the new darling of the tech world. Of course, this proclamation cannot go without mentioning the commerce juggernaut right […]

Local Market Analysis Does it Make More Sense to Rent… or Own? With Seattle’s robust job market and high housing costs, there has been a lot of talk lately about the cost of living in the Greater Seattle area. In fact, Seattle is now the 5th most expensive city to rent in the country according to a new study from Nested.com. The average monthly rental price […]

Local Market Analysis Demand is High, Inventory Low… Here we Go! The two graphs here illustrate the amount of homes for sale, the amount of homes that sold, pending sales and new listings over the past two years in King and Snohomish Counties. This gives us a good look at the simple principle of supply and demand. We are currently experiencing one of the strongest Seller’s markets in […]

Local Market Analysis You Don’t Need Tulips for a Strong Home Sale These graphs (click to view larger) above provide a 10-year history of the odds of selling in the month of October for both King and Snohomish Counties. As you can see, the odds of selling are at a 10-year high, hitting 86% in King and 85% in Snohomish. These are quite favorable odds for sellers […]

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Local Market Analysis Affordability: Commute Times & Interest Rates These graphs illustrate the brass tacks of affordability between King and Snohomish Counties, measured by the average monthly payment. Most recently in September, the average monthly payment was 35% higher in King County compared to Snohomish County. What is fascinating, though, is comparing today’s average monthly payment to peak monthly payments back in 2007! In King County, monthly payments […]

Local Market Analysis Market Update – Q3 Inventory levels providing more choices for buyers; is the market starting to stabilize? As we head into the fall and winter months after an incredibly eventful spring and summer, available inventory levels are starting to ease. It is still a seller’s market (3 months of inventory or less) in most areas, but one that is providing […]

Local Market Analysis Interest Rates and Your Bottom Line Wow, just wow! The interest rate levels that we have experienced in 2016 are seriously unbelievable. Currently we are hanging around 3.5% for a 30-year fixed conventional mortgage, almost a half a point down from a year ago. This is meaningful because the rule of thumb is that for every one-point increase in interest rate […]

Local Market Analysis What is the State of the Condominium Market in the Greater Seattle Area? We often speak about the Single Family Residential (SFR) market, but we thought it would be interesting to take a deep dive into the Condominium (condo) market in the Greater Seattle area. Condos can provide a more affordable option and have grown in popularity as SFR home prices have gone up. Much like the SFR […]

Local Market Analysis Many Factors to Consider When Choosing to Rent vs. Own *The amount of time you need to own your home in order for owning to be a superior financial decision. There has been a lot of talk lately about the cost of living in the Greater Seattle area. Whether it has to do with home prices or rental rates the story is the same: it […]

Local Market Analysis A Thirteen-Year Overview of Inventory Levels- Where’s the Balance? The two graphs here illustrate a thirteen-year overview of inventory levels in both King and Snohomish Counties, highlighting the 2007 crash. Inventory levels are measured by the months of available inventory. For example, if there were 60 homes available in July and 30 homes sold in July, you would be left with two months of inventory; meaning that if no new homes came to market, […]

Local Market Analysis Market Update – Q1 2016 The 2016 real estate market is off to an extreme start! Strong buyer demand due to our flourishing job market and historically low interest rates are the driving force behind this market. Buyers often find themselves competing due to multiple offers which require seller-centric terms in order to win. Prices have continued to grow over the last two years, putting sellers in […]

Local Market Analysis Strategy is Key in an Extreme Market The beginning of 2016 has been quite the ride so far in our local real estate market. It has been the most extreme seller's market we've ever seen. At the end of February, both King and Snohomish Counties ended the month with only one month of inventory based on pending sales. Pending numbers (the amount […]

Local Market Analysis It’s an Amazing Time to be a Seller! The two graphs here illustrate the amount of homes for sale and the amount of homes sold over the past two years in King and Snohomish Counties. This gives us a good look at the simple principle of supply and demand. We are currently experiencing one of the strongest Seller's markets in recent history. A […]

Local Market Analysis Home Price Affordability Driven by Commute Times Close proximity to the work place is often near the top of a buyer’s list of preferred features. 2015 proved to be the year that commute times to major job centers widened the price divide between key market areas in the Greater Seattle area. Seattle proper has always been more expensive than its neighboring suburbs, but the […]