South King County Quarterly Market Trends – Q3 2020

 

The real estate market continued to positively perform in the third quarter, and is the bright light in the economy during the COVID-19 health crisis. The protocols in place that have helped protect the safety of the community have recently been expanded to allow small group open houses to help address the demand in the market.

Interest rates remain historically low, hovering around 3% and creating robust buyer demand and a competitive marketplace. Coupled with available inventory being down 55% complete year-over-year, the third quarter saw many home sales escalate in price due to multiple offers. This perfect storm of supply and demand has amped up price appreciation. With only 0.6 months of available inventory based on pending sales, the median price is up 11% complete year-over-year.

 

Inventory is down due to the high absorption rate which resulted in many sales. There was a delay in homes coming to market in the spring, but the summer months got us within 5% of the previous year’s number of new listings. The influence of interest rates, along with many people making big lifestyle moves due to working from home, Baby Boomers retiring, and the younger generations transitioning their work and family statuses have resulted in just 2% fewer sales complete year-over-year.

 

These are unprecedented times and the real estate market has provided lots of opportunities. Equity levels are high, allowing for exciting lifestyle moves, relocations, and some ease from other financial pressures. 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 October 19, 2020 at 1:09 PM
Windermere Real Estate North | Posted in Quarterly Reports |

North Snohomish County Quarterly Market Trends – Q3 2020

 

The real estate market continued to positively perform in the third quarter, and is the bright light in the economy during the COVID-19 health crisis. The protocols in place that have helped protect the safety of the community have recently been expanded to allow small group open houses to help address the demand in the market.

Interest rates remain historically low, hovering around 3% and creating robust buyer demand and a competitive marketplace. Coupled with available inventory being down 55% complete year-over-year, the third quarter saw many home sales escalate in price due to multiple offers. This perfect storm of supply and demand has amped up price appreciation. With only 0.5 months of available inventory based on pending sales, the median price is up 8% complete year-over-year.

 

Inventory is down due to the high absorption rate. There was a delay in homes coming to market in the spring, but the summer months finally caught us up with the previous year’s number of new listings. The influence of interest rates, along with many people making big lifestyle moves due to working from home, Baby Boomers retiring, and the younger generations transitioning their work and family statuses have resulted in 6% more sales complete year-over-year.

 

These are unprecedented times and the real estate market has provided lots of opportunities. Equity levels are high, allowing for exciting lifestyle moves, relocations, and some ease from other financial pressures. 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 October 19, 2020 at 1:08 PM
Windermere Real Estate North | Posted in Quarterly Reports |

Seattle Metro Quarterly Market Trends – Q3 2020

 

The real estate market continued to positively perform in the third quarter, and is the bright light in the economy during the COVID-19 health crisis. The protocols in place that have helped protect the safety of the community have recently been expanded to allow small group open houses to help address the demand in the market.

Interest rates remain historically low, hovering around 3% and creating robust buyer demand and a competitive marketplace. Coupled with available inventory being down 17% complete year-over-year, the third quarter saw many home sales escalate in price due to multiple offers. This perfect storm of supply and demand has maintained price appreciation. With only 1.1 months of available inventory based on pending sales, the median price is up 3% complete year-over-year.

 

Inventory is down due to the high absorption rate which resulted in many sales. There was a delay in homes coming to market in the spring, but the summer months got us equal with the previous year’s number of new listings. The influence of interest rates, along with many people making big lifestyle moves due to working from home, Baby Boomers retiring, and the younger generations transitioning their work and family statuses have resulted in 10% more sales complete year-over-year.

 

These are unprecedented times and the real estate market has provided lots of opportunities. Equity levels are high, allowing for exciting lifestyle moves, relocations, and some ease from other financial pressures. 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 October 19, 2020 at 1:08 PM
Windermere Real Estate North | Posted in Quarterly Reports |

Eastside Quarterly Market Trends – Q3 2020

 

The real estate market continued to positively perform in the third quarter, and is the bright light in the economy during the COVID-19 health crisis. The protocols in place that have helped protect the safety of the community have recently been expanded to allow small group open houses to help address the demand in the market.

Interest rates remain historically low, hovering around 3% and creating robust buyer demand and a competitive marketplace. Coupled with available inventory being down 58% complete year-over-year, the third quarter saw many home sales escalate in price due to multiple offers. This perfect storm of supply and demand has amped up price appreciation. With only 0.6 months of available inventory based on pending sales, the median price is up 6% complete year-over-year.

 

Inventory is down due to the high absorption rate which resulted in many sales. There was a delay in homes coming to market in the spring, but the summer months got us within 12% of the previous year’s number of new listings. The influence of interest rates, along with many people making big lifestyle moves due to working from home, Baby Boomers retiring, and the younger generations transitioning their work and family statuses have resulted in only 4% fewer sales complete year-over-year.

 

These are unprecedented times and the real estate market has provided lots of opportunities. Equity levels are high, allowing for exciting lifestyle moves, relocations, and some ease from other financial pressures. 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 October 19, 2020 at 1:07 PM
Windermere Real Estate North | Posted in Quarterly Reports |

North King County Quarterly Market Trends – Q3 2020

 

The real estate market continued to positively perform in the third quarter, and is the bright light in the economy during the COVID-19 health crisis. The protocols in place that have helped protect the safety of the community have recently been expanded to allow small group open houses to help address the demand in the market.

Interest rates remain historically low, hovering around 3% and creating robust buyer demand and a competitive marketplace. Coupled with available inventory being down 45% complete year-over-year, the third quarter saw many home sales escalate in price due to multiple offers. This perfect storm of supply and demand has maintained price appreciation. With only 0.7 months of available inventory based on pending sales, the median price is up 3% complete year-over-year.

 

Inventory is down due to the high absorption rate which resulted in many sales. There was a delay in homes coming to market in the spring, but the summer months got us within 6% of the previous year’s number of new listings. The influence of interest rates, along with many people making big lifestyle moves due to working from home, Baby Boomers retiring, and the younger generations transitioning their work and family statuses have resulted in 6% more sales complete year-over-year.

 

These are unprecedented times and the real estate market has provided lots of opportunities. Equity levels are high, allowing for exciting lifestyle moves, relocations, and some ease from other financial pressures. 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 October 19, 2020 at 1:07 PM
Windermere Real Estate North | Posted in Quarterly Reports |

South Snohomish County Quarterly Market Trends – Q3 2020

 

The real estate market continued to positively perform in the third quarter, and is the bright light in the economy during the COVID-19 health crisis. The protocols in place that have helped protect the safety of the community have recently been expanded to allow small group open houses to help address the demand in the market.

Interest rates remain historically low hovering around 3% and creating robust buyer demand and a competitive marketplace. Coupled with available inventory being down 72% complete year-over-year, the third quarter saw many home sales escalate in price due to multiple offers. This perfect storm of supply and demand has amped up price appreciation. With only 0.4 months of available inventory based on pending sales, the median price is up 9% complete year-over-year.

 

Inventory is down due to the high absorption rate which resulted in many sales. There was a delay in homes coming to market in the spring, but the summer months got us within 10% of the previous year’s number of new listings. The influence of interest rates, along with many people making big lifestyle moves due to working from home, Baby Boomers retiring, and the younger generations transitioning their work and family statuses have resulted in only 3% fewer sales complete year-over-year.

 

These are unprecedented times and the real estate market has provided lots of opportunities. Equity levels are high, allowing for exciting lifestyle moves, relocations, and some ease from other financial pressures. 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 October 19, 2020 at 1:06 PM
Windermere Real Estate North | Posted in Quarterly Reports |

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 |