Housing Market News

Housing Market News Q2 2020 Reports: Market Update   Q2 was a story of resilience for the Seattle market. It began with our region fully entrenched in a new normal amidst the COVID-19 pandemic, but ended with a strong seller’s market and historic low interest rates. Buyers have returned in droves to battle for the limited supply of homes for sale. With a […]
Housing Market News Q1 2020 Reports: Market Update   As we are fully entrenched in a new normal amidst the COVID-19 pandemic, it is important to note that the Q1 stats you see are based on pre-coronavirus closed sales activity and therefore largely untouched by our current market reality.   While Q1 serves as a pre-coronavirus benchmark, Q2 and Q3 will more accurately […]
Housing Market News Economic Insights from Matthew Gardner   As we all hunker down through these challenging times, it is comforting to remember that there will be light at the end of the tunnel. A voice of calm and reason in this time of uncertainty has been our Windermere Chief Economist, Matthew Gardner. While he is expecting an economic slowdown accompanied by a […]
Housing Market News Annual Seattle-Eastside Real Estate Report: A Look Back at 2019   A strong local employment sector, very low mortgage interest rates, and the most balanced market we’ve seen in two decades each contributed to increased sales velocity in 2019.   While the number of homes for sale increased overall in 2019 as compared to 2018, the higher rate of sales throughout the year resulted in […]
Housing Market News Q3 2019 Reports: Market Update   Q3 was the most stable and balanced market we have seen in years. With very low mortgage interest rates compelling buyers to act and fewer homes for sale than we saw last fall (when a flood of homes came to market), buyers and sellers are each finding their own place in a more equitable […]
Housing Market News Q2 2019 Reports: Market Update   Changes in the home lending environment drove down mortgage interest rates in Q2 to their lowest levels in years, giving buyers more buying power for their money and stimulating demand for available homes on the market.   The number of homes for sale is up markedly, especially in Seattle, as is the number of […]
Housing Market News New Real Estate Excise Tax (REET) Rate (eff. 1/1/20)   Now that Washington State Senate Bill 5998 has been signed into law, our local real estate excise tax—the tax paid when you sell a property—will be getting a facelift in 2020. The flat rate of the past will make way for a new tiered system which gives owners a tax cut on the first […]
Housing Market News Q1 2019 Reports: How’s the Market?   Be forewarned, this quarter’s report looks somewhat dismal. There are two very relevant facts that should be taken into consideration when reviewing it. The first is that Q1 is nearly always the worst performing quarter of any year because the sales completed in Q1 typically went under contract between late November and the end […]
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Housing Market News Annual Seattle-Eastside Real Estate Report: A Look Back at 2018   An increase in homes for sale coupled with rising interest rates have created a far more balanced market than we started 2018 with. This is a good thing as it will help our region tame affordability and create a sustainable marketplace. More homes came to market in 2018 than in any year since 2011. […]
Housing Market News Q3 2018 Seattle-Eastside Real Estate Report   As Q3 comes to a close, 30-year fixed-rate mortgages are at their highest levels since April 2011—now averaging just above 4.7%. Even so, they are still far lower than their 30-year trendline. A 1% increase in mortgage interest rates decreases buying power by 10%. Or said differently, a 1% rate increase has the same […]
Housing Market News Q2 2018 Seattle-Eastside Real Estate Report   Signs of transition to a more balanced market are becoming abundantly clear as we move further into 2018. Price growth, while still climbing in most areas, has tapered off and average market times are inching up. Brokers are beginning to dust off forms that have seen little use of late—finance and inspection contingencies—as buyers […]
Housing Market News Q1 2018 Seattle-Eastside Real Estate Report   Q1 prices in the Seattle-Eastside region have escalated yet again with no sign of slowing in the immediate future. An unprecedented lack of inventory for sale coupled with rising interest rates has prompted buyers to compete with reckless abandon to win the prize of their very own home, albeit with a steep price tag. […]
Housing Market News The Urbanization of Downtown Bellevue When you hear of a city that is “something between an urban jungle and the classic picture of suburbia,” Bellevue may not be the first place that comes to mind. However, that’s exactly how one young couple describes downtown Bellevue in a recent article from The Seattle Times – and they aren’t the only ones. […]
Housing Market News Will Seattle Grow Up to Be a Futuristic City? Architects are often referred to as optimists. They envision a city’s future and plan for it. That kind of optimism is incredibly important for the Seattle area real estate market as the city works to accommodate widespread growth. According to New York architect Vishaan Chakrabarti, who recently spoke at the Downtown Seattle Association’s annual breakfast […]
Housing Market News 2017 Will Bring More Condos to Bellevue and Seattle All of the statistics and speculation surrounding our local housing market could be summarized by one basic economic principle – supply and demand. We simply have not had enough homes, among other resources, to accommodate the rapid growth in our region. However, Puget Sound Business Journal (PSBJ) recently reported there is hope ahead in the […]
Housing Market News Top 5 Seattle-Area Superlatives From 2016 2016 has been quite a year to live in the Pacific Northwest, especially if you spent some or most of it in the housing market. This year’s market was truly unique, record-breaking, and game-changing (see: Windermere’s W Collection). To close out the year here are a few of the most noteworthy Seattle-area superlatives related to […]