Windermere Mercer Island

Brokers report brisk activity as we head deeper into December. Indeed, with inventory levels at incredibly low numbers, many sellers decided to take advantage of a rare busy late fall market and we saw a flurry of listings come to market between Nov. 1st and 18th. Buyers jumped on the new inventory creating a very busy November for pending sales.

With all the added inventory (and more) snatched out of the active listing pool, December pickings are few and far between. With fewer buyers searching for homes in December, diligent buyers can use this time to potentially negotiate more favorable pricing on the homes remaining on the market. This can also be a great time of year for buyers with less competitive offer terms (ie. aren’t paying all cash, pre-inspecting or giving up their first born) to compete in ultra-competitive segments.

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Windermere Mercer Island

Can the real estate market really turn on a dime? The short answer is yes. Supply and demand dictate real estate just like any other market. Turn on the spigot of homes for sale or tamper down the demand and you’ll see a marked reaction. Do both at the same time and you’ll see that dime spinning.

One more note, this typically happens at the micro-level long before market-wide trends occur. So, for example, the red hot East Bellevue market might shift in only one or two price brackets and that shift could be short-term (1 or 2 weeks) or long term.

Blink and you might miss it. But keep your eye on the ball and you can take advantage of temporary slowing in an otherwise hot market.

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Windermere Mercer Island

While most buyers are still pondering 7 different ways to use leftover stuffing, we think now is a great time to talk turkey. The weeks between Thanksgiving and New Year’s are some of the most advantageous for diligent buyers to buy when the market favors them more than any other time of the year. 

But don’t just take our word for it. Check out the real-time data in the report below. Then contact one of our amazing brokers to evaluate the true value of potential homes and ensure that you don’t leave money on the table. 

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Windermere Mercer Island

You’ve been looking in {South Bellevue} for a while now and the market is just plain crazy. Being the savvy buyer you are, you and your broker are watching the weekly stats like a hawk.

Then, low and behold, you notice the market changes from Strongly Favors Sellers to Favors Sellers in your price segment. A potential opportunity to swoop in? Maybe. The indicator warrants taking a closer look and deciding if this is the right time to take a leap. One thing you’ll know for certain, most of the buyer’s out there are still reading last September’s news while you are actively monitoring the pulse of the market. If I were a gambler, my odds would be on you!

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Windermere Mercer Island

Why a weekly report you might ask? Tracking weekly activity captures trends that occur at the neighborhood and price point level before they reach mainstream data sources. 

While monthly data provides a nice historical look-back, its nearly two month’s old just prior to each release. If you’re a buyer or a seller in this frenzied market you know first-hand just how important real time data is in giving you a competitive edge. 

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Windermere Mercer Island

PENDING SALES STILL UP DESPITE MARKET UNCERTAINTY
Proposed tax changes that could affect homeowners and the typical fall slowdown has done little to stem the pending sales activity in the red-hot Seattle-Eastside market. While every neighborhood and price point is its own little island, a quick look through October’s activity shows most segments still favoring sellers as we head into November.

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Windermere Mercer Island

The Q3 median sale price increased a mere 0.6% in Seattle and 24.4% on the Eastside over Q3 2016. While Eastside condos were truly a hotbed of activity, Seattle condos fared better than the numbers appear. This is because a few ultra-high sales and high-end new construction significantly skewed the Q3 2016 median price higher than in any other quarter of 2016. That anomaly aside, Seattle condos have continued to appreciate at a brisk pace.

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Windermere Mercer Island

Ballard, Greenlake and North Seattle rocked the charts this week! Home buyers were back at it in force. With the Exception of West Bellevue and Woodinville, all Seattle area neighborhoods saw a decline in listing inventory coupled with an increase in pending sales. The coming week should bring a new surge of listing inventory, spurring on another strong round of pending sale activity.

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Windermere Mercer Island

This week will likely mark the last active listing week of August as buyers, sellers and agents enjoy the last bit of summer vacations and prep for back to school. The second half of August is a great time for buyers to find the tables turned in their favor.

Look for a rush of new listings to come to market in the week following Labor Day as we enter the second most active season of the year.

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