December 9th Seattle Area Housing Report

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Weekly Stats by Neighborhood

Rising interest rates have spurred many buyers into action as concern of continued increases in interest rates looms. Sales velocity was up in most local markets this week with the exception of West Bellevue and Renton. See the links below to view more detail for each area.

Click here to to view the complete report for all 16 MLS areas

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
Downtown Seattle Condos
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
Downtown Bellevue Condos

 

Windermere Real Estate/Mercer Island | 2737 77th Ave SE | Mercer Island, WA 98040
o: (206) 232-0446 | e: mercerisland@windermere.com | w: windermeremercerisland.com

© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

November 2016 Seattle Area Housing Report

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Monthly Reports

Real estate brokers expect no holiday breather
as sales stay strong and supplies remain low

KIRKLAND, Washington (Dec. 5, 2016) – Pending sales of homes hit an all-time high for the month of November according to the latest statistics from Northwest Multiple Listing Service. The report covering 23 counties around Washington state also shows the number of new listings added during the month plunged to the lowest level in 11 months, prompting MLS leaders to predict a busy winter for residential real estate as buyers compete for the smallest inventory since March.

“Last year’s holiday season ended up being the best time to sell a home around King County as sellers took the winter months off, but buyers remained persistent. The supply of homes for sale hit a post-recession low, and so far, this year is mirroring last winter’s trends,” remarked Northwest MLS director Robert Wasser, owner/broker at Prospera Real Estate in Seattle.

Figures for November show a 13.2 percent drop in inventory of single family homes and condominiums, a 9.4 percent gain in pending sales, a 31.3 percent spike in closed sales, and an 11 percent increase in prices compared to the same month a year ago.
At month-end, there was only 1.69 months of supply system-wide, believed to be a new low. For the 4-county Puget Sound region there is only 1.22 months of supply, with King County having the lowest level at under a month (0.96).

Pending sales (mutually accepted offers) totaled 8,217, and eclipsed the number of new listings (5,779) by 2,438 units. That imbalance depleted total inventory, dropping the number of active listings to 13,303, down 13.2 percent from a year ago.
“November’s pending sales for the four-county area of King, Snohomish, Pierce and Kitsap were the highest since 2005. There were 44 percent more pendings than new listings,” noted J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, who described market activity as a mini power surge. “Every time interest rates increase 0.5 percent we see these surges because buyers become anxious about increasing rates – but on a historical basis rates are still amazing,” he remarked.

John Deely, vice chairman of the Northwest MLS board, said the Seattle residential real estate market is not taking time off for an end-of-year breather. “The seemingly inexhaustible supply of ready, willing and able buyers continues to purchase available inventory. This imbalance in supply and demand continues to fuel multiple offers and drive prices upward,” said Deely, the principal managing broker at Coldwell Banker Bain in Seattle. Well-paying jobs in the tech sector are fueling demand, with “the increase in equity and tick up in interest rates enticing more sellers to the market.”

View the full press release

Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership of nearly 2,100 member offices includes more than 25,000 real estate professionals. The organization, based in Kirkland, Wash., currently serves 23 counties in Washington state.

 

View the full November 2016 Report by neighborhood

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
CONDOS
Downtown Seattle
Downtown Bellevue

MONTHLY SNAPSHOT

Click on each report below to view an overview of the regional data:

SINGLE-FAMILY HOMES
Seattle Metro
Eastside
King County
Mercer Island
CONDOS
Seattle Metro
Eastside
NEW CONSTRUCTION
Seattle Metro
Eastside

© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

December 2nd Seattle Area Housing Report

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Weekly Stats by Neighborhood

Sales are seasonally down in all areas this week with the exception of West Bellevue, Redmond, and Renton, which saw sales flat but not up. Bucking the trend, the number of homes for sale increased in North Seattle. 

Click here to to view the complete report for all 16 MLS areas

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
CONDOS
Downtown Seattle
Downtown Bellevue
Windermere Real Estate/Mercer Island | 2737 77th Ave SE | Mercer Island, WA 98040
o: (206) 232-0446 | e: mercerisland@windermere.com | w: windermeremercerisland.com
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

November 18th Seattle Area Housing Report

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Weekly Stats by Neighborhood

Rainy days and post-election doldrums have contributed to our typical seasonal slowdown with sales activity down in most neighborhoods. East Bellevue, East Lake Sammamish, Redmond, Woodinville, and North Seattle are the only areas that bucked the trend with an increase in sales this week. 

Click here to to view the complete report for all 16 MLS areas

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
CONDOS
Downtown Seattle
Downtown Bellevue
Windermere Real Estate/Mercer Island | 2737 77th Ave SE | Mercer Island, WA 98040
o: (206) 232-0446 | e: mercerisland@windermere.com | w: windermeremercerisland.com
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

November 11th Seattle Area Housing Report

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Weekly Stats by Neighborhood

Our markets responded to the outcome of the presidential election with pause, as home buyers and sellers pondered how the local real estate market (and country) will be impacted by the shake-up in the White House. Activity slowed in 12 of the 17 market segments we track here. This is definitely an expected response to any noteworthy national event. Time will tell how consumer confidence impacts the market for the longer term. 

Click here to to view the complete report for all 16 MLS areas

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
CONDOS
Downtown Seattle
Downtown Bellevue
Windermere Real Estate/Mercer Island | 2737 77th Ave SE | Mercer Island, WA 98040
o: (206) 232-0446 | e: mercerisland@windermere.com | w: windermeremercerisland.com
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

October 2016 Seattle Area Housing Report

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Monthly Reports

Home sales and prices still climbing around Puget Sound, but brokers expect slowdown

NWMLS Reports (Nov. 4, 2016) – Home sales around Western Washington outgained new listings again in October, fueling competition for scarce inventory and pushing prices higher. Some seasonal slowdown is still expected – and the Nov. 8 elections may be in play as well, according to brokers at Northwest Multiple Listing Service who commented on last month’s activity.

MLS members reported 9,950 pending sales during October, but they added only 7,591 new listings, the lowest number since January. A year-over-year comparison of pending sales shows there were 633 more mutually accepted offers last month than twelve months ago for a gain of 6.8 percent.

Closed sales improved even more, rising from the year-ago total of 7,769 completed transactions to last month’s volume of 8,554 (up 10.1 percent).

“While the stock market remains somewhat skittish regarding the upcoming presidential election, this feeling clearly has not transferred to the housing market,” remarked OB Jacobi, president of Windermere Real Estate. “Unfortunately for buyers who were hoping to have more homes to choose from this fall, listings in October fell to levels we haven’t seen since the 1990s – and at this point, we probably won’t see any sizable increase in inventory until the spring at the earliest,” he added.

Active listings dropped more than 13 percent compared to a year ago, with further shrinkage expected. At month end there were 15,690 single family homes and condominiums offered for sale in the MLS system, which encompasses 23 counties. That’s 2,378 fewer than the year-ago total of 18,068, and 2,446 fewer than September. All but two counties (Clallam and Ferry) reported year-over-year decreases in inventory.

Overall, there was only 1.8 months of supply. King County had slightly more than one month (1.1), with several areas within that county reporting less than a month’s supply. In Snohomish County, where inventory plunged more than 20 percent from a year ago, there was with 1.3 months.

“The further we move into November, the more we’ll start feeling the typical seasonal drop when new listings coming on the market decline by 50 percent on a monthly basis compared to spring and summer months,” suggested J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. Buyers are still out there, he emphasized. “We’re heading into winter with a repeat of last year’s conditions: low inventory, a backlog of buyers, and historically low interest rates.” On the heels of the “best October on record” Scott predicts “a strong winter market where the inventory remains tight throughout the season.”

View the full press release

Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership of nearly 2,100 member offices includes more than 25,000 real estate professionals. The organization, based in Kirkland, Wash., currently serves 23 counties in Washington state.

 

View the full October 2016 Report by neighborhood

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
CONDOS
Downtown Seattle
Downtown Bellevue

MONTHLY SNAPSHOT

Click on each report below to view an overview of the regional data:

SINGLE-FAMILY HOMES
Seattle Metro
Eastside
King County
Mercer Island
CONDOS
Seattle Metro
Eastside
NEW CONSTRUCTION
Seattle Metro
Eastside

© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

November 4th Seattle Area Housing Report

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Weekly Stats by Neighborhood

The inventory of homes for sale continues to decline as we enter November, and our slowest season of the year. Only five areas had an increase in sales activity this week: Mercer Island, West Bellevue, Redmond, Queen Anne, and Ballard. Seattle condo activity was brisk with fewer units available for sale relative to the pace of sales. 

Click here to to view the complete report for all 16 MLS areas

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
CONDOS
Downtown Seattle
Downtown Bellevue
Windermere Real Estate/Mercer Island | 2737 77th Ave SE | Mercer Island, WA 98040
o: (206) 232-0446 | e: mercerisland@windermere.com | w: windermeremercerisland.com
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

Check Out These Seattle Area Neighborhood Profiles

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Neighborhood Info

liveonguidesBallard hip, West Seattle views, or Kirkland serenity? TheMarketTalks.com offers an easy way to research and compare neighborhoods throughout the Seattle-Eastside area, including maps, photos, links and more. The neighborhood profiles are a labor of love by the team at Windermere Real Estate/Mercer Island, developed to give consumers easy to access tools to enable them to learn more about potential communities within our Seattle Metro area” says the company’s owner Julie Barrows. The website relies heavily on relevant links to great resources that locals know, but others might not. It’s beauty is that it is all assembled in one easy to access place.

Ever wonder what the differences are between Seattle neighborhoods that seem so similar? Or where Ballard, Queen Anne or Madison Park are located in relation to Downtown. Get the scoop on Seattle neighborhoods –local amenities, maps, restaurants, and schools for each neighborhood in one easy place. BallardBelltownBroadmoorCapitol Hill,  DowntownFreemontGreen LakeLaurelhurstMadison ParkMadrona-LeschiMagnoliaNorth Seattle-ShorelineQueen AnneSeward ParkSouth SeattleWallingford and West Seattle.

Just East of Seattle, Bellevue and Kirkland, and many other Eastside cities (Redmond, Issaquah,Duvall, Mercer Island, Renton, Samamish, and Woodinville), are drawing younger, high-tech crowds. With so many new technology start-ups blended with long-standing icons, the Eastside continues to be a mecca for growth in the Seattle area region. Here’s a look at a few of the Eastside’s many neighborhoods.

We’ve compiled school district info and ratings for schools throughout the greater Seattle-Eastside region in one place to make your research easier. Click here for links to each school district. You can also use this site to see which schools serve which neighborhoods…and which neighborhoods are part of which school districts. We’ve made all of the connections for you to make analysis a breeze.

Top it all off with these handy local utility contacts, Seattle and Eastside Maps, and current traffic conditions.

 

Windermere Real Estate/Mercer Island | 2737 77th Ave SE | Mercer Island, WA 98040
o: (206) 232-0446 | e: mercerisland@windermere.com | w: windermeremercerisland.com

October 28th Seattle Area Housing Report

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Weekly Stats by Neighborhood

The number of homes for sale fell markedly in most areas this week as they either sold or came off the market. Sales activity was a mixed bag. The South Seattle, Bellevue, Kirkland, Woodinville and North Seattle neighborhoods all had more sales than last week, while West Seattle, Mercer Island, Queen Anne, and Ballard all saw the pace of sales slow. 

Click here to to view the complete report for all 16 MLS areas

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
CONDOS
Downtown Seattle
Downtown Bellevue
Windermere Real Estate/Mercer Island | 2737 77th Ave SE | Mercer Island, WA 98040
o: (206) 232-0446 | e: mercerisland@windermere.com | w: windermeremercerisland.com
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

October 21st Seattle Area Housing Report

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Weekly Stats by Neighborhood

Seattle and the Eastside split ways this week, statistically speaking. Most Seattle neighborhoods saw strong activity and an uptick in sales while the Eastside slowed markedly with sales down across the board. Renton remained solid aligning itself with the Seattle contingent and ignoring its Eastside neighbor’s influence. Condos followed a similar path with Seattle condo activity up while Bellevue sales fell flat. 

Click here to to view the complete report for all 16 MLS areas

Individual Reports

SEATTLE
West Seattle
South Seattle
Central Seattle
Queen Anne
Ballard/Greenlake
North Seattle
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
CONDOS
Downtown Seattle
Downtown Bellevue
Windermere Real Estate/Mercer Island | 2737 77th Ave SE | Mercer Island, WA 98040
o: (206) 232-0446 | e: mercerisland@windermere.com | w: windermeremercerisland.com
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.