Local Market Updates

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 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 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 […]
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 […]
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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. […]
Local Market Updates Local Market Update – May 2017 The local real estate market—already the hottest in the country—set yet another price record in April. The number of homes for sale dropped 27 percent compared to a year ago, the lowest amount of inventory ever recorded for a spring month. The historically low supply of homes is making competition among buyers fierce. Sellers are […]
Local Market Updates Local Market Update – April 2017 While we finally saw an increase in new listings in March, there was an even greater jump in sales. Lack of supply continued to push prices to new record highs. For the fifth straight month, our region has experienced the sharpest home price increases of any major market in the country. While that may be […]
Local Market Updates Local Market Update – March 2017 Home prices are growing faster in our region than anywhere else in the country. After a brief slowdown last month, home prices in February jumped to new record highs. The reason? The lowest number of homes for sale on record. The surge in prices came well ahead of the normal seasonal spring uptick, adding even […]
Local Market Updates Local Market Update – February 2017 The local real estate market remains very hot with extremely low inventory and prices that are rising faster than anywhere else in the country. However, that rate of price growth appears to be cooling from last year, dropping to its slowest pace in three years. Predictions of more interest rate hikes may further limit price […]
Local Market Updates Local Market Update – January 2017 A record low number of houses for sale in December indicates that 2017 will continue to be a very competitive market for buyers. The good news: those who decide to take the plunge and list their home can count on getting a premium price for their property. Brokers reported that about three-fourths of the homes […]
Local Market Updates Local Market Update – December 2016 Buyers spooked by a spike in mortgage interest rates gave rise to the busiest November for homes sales in over a decade. Prices rose accordingly. Case-Shiller ranked the area as the housing market with the fastest rising prices in the country. Sellers can expect to get a premium for their homes as we move into […]
Local Market Updates Local Market Update – November 2016 Home sales outgained new listings again in October, further squeezing already tight inventory and pushing prices higher. Since new listings traditionally decrease in the fall, that inventory shortage is expected to last until spring. Sellers willing to put their home on the market now can expect plenty of interested buyers, and a highly favorable chance […]
Local Market Updates Local Market Update – October 2016 At a time of year when sales traditionally slow down, September saw particularly strong sales growth. Home prices rose yet again compared to the same time last year, but they remain below the peak of several months ago. And inventory, while still low, is at its highest level in two years. The local real estate […]