South King County Quarterly Market Trends – Q2 2020

The real estate market performed very well in the second quarter despite the changing and challenging environment due to the COVID-19 health crisis. Our industry has been considered essential and required to operate with strict protocols in place to help protect the safety of buyers, sellers, brokers, and service providers. The ability to still do business helped sales churn during what would have been our busiest season, spring market.

 

Interest rates remain at the lowest levels we have ever seen, creating strong buyer demand and providing plentiful audiences for listings. The biggest challenge we saw in the second quarter was a lack of sufficient housing inventory for buyers to choose from, especially in the lower to medium price ranges. Understandably, would-be sellers were delayed in coming to market and some even stepped aside to survey their safety and motivation. This led to a 27% decrease in new listings in the second quarter vs. the same quarter last year. All the while, pending sales were only down 12%, illustrating the demand in comparison to supply.

 

This classic supply and demand scenario has helped maintain price appreciation. With only 0.7 months of available inventory based on pending sales, the median price is up 7% year-over-year. As we head into summer, we are looking to see more inventory come to market. Summer will be the new spring market as supply starts to catch up with demand while taking advantage of the longer, lighter days.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on July 16, 2020 at 3:41 PM
Windermere Real Estate North | Posted in Quarterly Reports |

Eastside Quarterly Market Trends – Q2 2020

The real estate market performed very well in the second quarter despite the changing and challenging environment due to the COVID-19 health crisis. Our industry has been considered essential and required to operate with strict protocols in place to help protect the safety of buyers, sellers, brokers, and service providers. The ability to still do business helped sales churn during what would have been our busiest season, spring market.

 

Interest rates remain at the lowest levels we have ever seen, creating strong buyer demand and providing plentiful audiences for listings. The biggest challenge we saw in the second quarter was a lack of sufficient housing inventory for buyers to choose from, especially in the lower to medium price ranges. Understandably, would-be sellers were delayed in coming to market and some even stepped aside to survey their safety and motivation. This led to a 31% decrease in new listings in the second quarter vs. the same quarter last year. All the while, pending sales were only down 20%, illustrating the demand in comparison to supply.

 

This classic supply and demand scenario has helped maintain price appreciation. With only 1 month of available inventory based on pending sales, the median price is up 2% year-over-year. As we head into summer, we are looking to see more inventory come to market. Summer will be the new spring market as supply starts to catch up with demand while taking advantage of the longer, lighter days.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on July 16, 2020 at 3:40 PM
Windermere Real Estate North | Posted in Quarterly Reports |

Seattle Metro Quarterly Market Trends – Q2 2020

The real estate market performed very well in the second quarter despite the changing and challenging environment due to the COVID-19 health crisis. Our industry has been considered essential and required to operate with strict protocols in place to help protect the safety of buyers, sellers, brokers, and service providers. The ability to still do business helped sales churn during what would have been our busiest season, spring market.

 

Interest rates remain at the lowest levels we have ever seen, creating strong buyer demand and providing plentiful audiences for listings. The biggest challenge we saw in the second quarter was a lack of sufficient housing inventory for buyers to choose from, especially in the lower to medium price ranges. Understandably, would-be sellers were delayed in coming to market and some even stepped aside to survey their safety and motivation. This led to a 25% decrease in new listings in the second quarter vs. the same quarter last year. All the while, pending sales were only down 10%, illustrating the demand in comparison to supply.

 

This classic supply and demand scenario has helped maintain price appreciation. With only 0.9 months of available inventory based on pending sales, the median price remained even year-over-year. As we head into summer, we are looking to see more inventory come to market. Summer will be the new spring market as supply starts to catch up with demand while taking advantage of the longer, lighter days.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on July 16, 2020 at 3:39 PM
Windermere Real Estate North | Posted in Quarterly Reports |

North King County Quarterly Market Trends – Q2 2020

The real estate market performed very well in the second quarter despite the changing and challenging environment due to the COVID-19 health crisis. Our industry has been considered essential and required to operate with strict protocols in place to help protect the safety of buyers, sellers, brokers, and service providers. The ability to still do business helped sales churn during what would have been our busiest season, spring market.

 

Interest rates remain at the lowest levels we have ever seen, creating strong buyer demand and providing plentiful audiences for listings. The biggest challenge we saw in the second quarter was a lack of sufficient housing inventory for buyers to choose from, especially in the lower to medium price ranges. Understandably, would-be sellers were delayed in coming to market and some even stepped aside to survey their safety and motivation. This led to a 51% decrease in new listings in the second quarter vs. the same quarter last year. All the while, pending sales were only down 15%, illustrating the demand in comparison to supply.

 

This classic supply and demand scenario has helped maintain price appreciation. With only 0.8 months of available inventory based on pending sales, the median price remained even year-over-year. As we head into summer, we are looking to see more inventory come to market. Summer will be the new spring market as supply starts to catch up with demand while taking advantage of the longer, lighter days.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on July 16, 2020 at 3:38 PM
Windermere Real Estate North | Posted in Quarterly Reports |

South Snohomish County Quarterly Market Trends – Q2 2020

The real estate market performed very well in the second quarter despite the changing and challenging environment due to the COVID-19 health crisis. Our industry has been considered essential and required to operate with strict protocols in place to help protect the safety of buyers, sellers, brokers, and service providers. The ability to still do business helped sales churn during what would have been our busiest season, spring market.

 

Interest rates remain at the lowest levels we have ever seen, creating strong buyer demand and providing plentiful audiences for listings. The biggest challenge we saw in the second quarter was a lack of sufficient housing inventory for buyers to choose from, especially in the lower to medium price ranges. Understandably, would-be sellers were delayed in coming to market and some even stepped aside to survey their safety and motivation. This led to a 26% decrease in new listings in the second quarter vs. the same quarter last year. All the while, pending sales were only down 7%, illustrating the demand in comparison to supply.

 

This classic supply and demand scenario has helped maintain price appreciation. With only 0.6 months of available inventory based on pending sales, the median price is up 5% complete year-over-year. As we head into summer, we are looking to see more inventory come to market. Summer will be the new spring market as supply starts to catch up with demand while taking advantage of the longer, lighter days.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on July 16, 2020 at 3:38 PM
Windermere Real Estate North | Posted in Quarterly Reports |

North Snohomish County Quarterly Market Trends – Q2 2020

The real estate market performed very well in the second quarter despite the changing and challenging environment due to the COVID-19 health crisis. Our industry has been considered essential and required to operate with strict protocols in place to help protect the safety of buyers, sellers, brokers, and service providers. The ability to still do business helped sales churn during what would have been our busiest season, spring market.

 

Interest rates remain at the lowest levels we have ever seen, creating strong buyer demand and providing plentiful audiences for listings. The biggest challenge we saw in the second quarter was a lack of sufficient housing inventory for buyers to choose from, especially in the lower to medium price ranges. Understandably, would-be sellers were delayed in coming to market and some even stepped aside to survey their safety and motivation. This led to a 21% decrease in new listings in the second quarter vs. the same quarter last year. All the while, pending sales were only down 1%, illustrating the demand in comparison to supply.

 

This classic supply and demand scenario has helped maintain price appreciation. With only 0.7 months of available inventory based on pending sales, the median price is up 7% complete year-over-year. As we head into summer, we are looking to see more inventory come to market. Summer will be the new spring market as supply starts to catch up with demand while taking advantage of the longer, lighter days.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on July 16, 2020 at 3:37 PM
Windermere Real Estate North | Posted in Quarterly Reports |

South King County Quarterly Market Trends – Q1 2020

As we head into the second quarter amid the COVID-19 outbreak, new real estate listings and transactions have slowed after a strong first quarter. What would typically be the seasonally brisk Spring Market has tempered in respect of the Stay Home, Stay Healthy order.

 

During this time, some sellers are still coming to market and there are motivated buyers carefully viewing and purchasing homes. I’m happy to report that sellers are maintaining their home sale values through these negotiations. We anticipate pent-up demand for both sellers and buyers once the orders are lifted, and see the summer season becoming the new spring for real estate and a more normal second half of 2020, bearing control of the virus. We also look forward to many jobs returning once the orders are lifted.  We are fortunate to be in the Greater Seattle Area, as many industries such as tech and biotech will hold small businesses on their shoulders once their workers return to the brick and mortar locations.

 

Prior to the outbreak, we anticipated complete year-over-year price growth to be 4-6%. That has been adjusted to 1-3% due to this health crisis. Another important element to consider is equity levels: 43% of homeowners in King County have more than 50% equity in their home.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on April 22, 2020 at 10:48 AM
Windermere Real Estate North | Posted in Quarterly Reports |

Eastside Quarterly Market Trends – Q1 2020

As we head into the second quarter amid the COVID-19 outbreak, new real estate listings and transactions have slowed after a strong first quarter. What would typically be the seasonally brisk Spring Market has tempered in respect of the Stay Home, Stay Healthy order.

 

During this time, some sellers are still coming to market and there are motivated buyers carefully viewing and purchasing homes. I’m happy to report that sellers are maintaining their home sale values through these negotiations. We anticipate pent-up demand for both sellers and buyers once the orders are lifted, and see the summer season becoming the new spring for real estate and a more normal second half of 2020, bearing control of the virus. We also look forward to many jobs returning once the orders are lifted.  We are fortunate to be in the Greater Seattle Area, as many industries such as tech and biotech will hold small businesses on their shoulders once their workers return to the brick and mortar locations.

 

Prior to the outbreak, we anticipated complete year-over-year price growth to be 4-6%. That has been adjusted to 1-3% due to this health crisis. Another important element to consider is equity levels: 43% of homeowners in King County have more than 50% equity in their home.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on April 22, 2020 at 10:48 AM
Windermere Real Estate North | Posted in Quarterly Reports |

Seattle Metro Quarterly Market Trends – Q1 2020

As we head into the second quarter amid the COVID-19 outbreak, new real estate listings and transactions have slowed after a strong first quarter. What would typically be the seasonally brisk Spring Market has tempered in respect of the Stay Home, Stay Healthy order.

 

During this time, some sellers are still coming to market and there are motivated buyers carefully viewing and purchasing homes. I’m happy to report that sellers are maintaining their home sale values through these negotiations. We anticipate pent-up demand for both sellers and buyers once the orders are lifted, and see the summer season becoming the new spring for real estate and a more normal second half of 2020, bearing control of the virus. We also look forward to many jobs returning once the orders are lifted.  We are fortunate to be in the Greater Seattle Area, as many industries such as tech and biotech will hold small businesses on their shoulders once their workers return to the brick and mortar locations.

 

Prior to the outbreak, we anticipated complete year-over-year price growth to be 4-6%. That has been adjusted to 1-3% due to this health crisis. Another important element to consider is equity levels: 43% of homeowners in King County have more than 50% equity in their home.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on April 22, 2020 at 10:47 AM
Windermere Real Estate North | Posted in Quarterly Reports |

North King County Quarterly Market Trends – Q1 2020

As we head into the second quarter amid the COVID-19 outbreak, new real estate listings and transactions have slowed after a strong first quarter. What would typically be the seasonally brisk Spring Market has tempered in respect of the Stay Home, Stay Healthy order.

 

During this time, some sellers are still coming to market and there are motivated buyers carefully viewing and purchasing homes. I’m happy to report that sellers are maintaining their home sale values through these negotiations. We anticipate pent-up demand for both sellers and buyers once the orders are lifted, and see the summer season becoming the new spring for real estate and a more normal second half of 2020, bearing control of the virus. We also look forward to many jobs returning once the orders are lifted.  We are fortunate to be in the Greater Seattle Area, as many industries such as tech and biotech will hold small businesses on their shoulders once their workers return to the brick and mortar locations.

 

Prior to the outbreak, we anticipated complete year-over-year price growth to be 4-6%. That has been adjusted to 1-3% due to this health crisis. Another important element to consider is equity levels: 43% of homeowners in King County have more than 50% equity in their home.

 

These are unprecedented times and there are many questions and concerns. It is my goal to help keep my clients informed and empower strong decisions, now more than ever. Please reach out if you’d like to discuss your real estate goals and how they relate to your lifestyle and bottom line. Be well!


Posted on April 22, 2020 at 10:46 AM
Windermere Real Estate North | Posted in Quarterly Reports |