April 2017 Seattle Area Housing Report

April 2017 Seattle Area Housing Report

Shrinking inventory putting “stranglehold” on sales around Western Washington as brokers continue grappling with challenges of multiple offers

KIRKLAND, Washington (May 4, 2017) – “Frustrating” is how brokers are summarizing the mood of buyers, brokers – and industry professionals – during the current housing market frenzy. New statistics from Northwest Multiple Listing Service show declines in inventory and sales, while prices continue their upward trajectory, but those numbers only tell part of the story.

“The real estate market is going absolutely gangbusters,” remarked OB Jacobi, president of Windermere Real Estate. “The remarkably low number of homes for sale can be blamed for the drop in sales,” he emphasized, adding, “The uptick in interest rates at the end of last year has clearly done nothing to slow things down.”

Inventory fell nearly 25 percent from the volume of active listings being offered a year ago. At the end of April, MLS brokers reported 10,679 homes and condos for sale across a 23-county area, which compares to the year-ago selection of 14,235 listings.

Viewed another way, there is only about 1.5 months of supply (about six weeks), which compares to twelve months ago when supply totaled about 1.85 months. (In general, four-to-six months is considered a balanced market.) There has not been more than two months of supply since September 2016.

MLS members continue to struggle to keep pace with demand. Brokers added 10,648 new listings to their database last month, down from 11,939 during April 2016, and they reported 10,514 pending sales. That total was down 893 transactions for a drop of year-over-year drop of 7.8 percent.

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. 

Click here for the full report and neighborhood-by-neighborhood statistics!

Neighborhood 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

 

Regional Reports

Seattle Homes
Eastside Homes
King County Homes
Mercer Island Homes
Seattle Condos
Eastside Condos
Seattle New Construction
Eastside New Construction

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

April 7th Seattle Area Housing Report

April 7th Seattle Area Housing Report

Many neighborhoods saw a slight cooling off this week with pending sales lower than the craze of last week. More new listings promised to come to market could ease the pain felt by buyers in this extreme seller’s market. Check out this week’s report neighborhood by neighborhood for details!

Click here for the full report and neighborhood-by-neighborhood statistics!

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

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

March 2017 Seattle Area Housing Report

March 2017 Seattle Area Housing Report

Northwest MLS brokers report 50 percent spike in new listings, but brisk sales prompt predictions of “frenzied spring”

KIRKLAND, Washington (April 6, 2017) – Northwest Multiple Listing Service brokers expected an uptick in the number of new listings during March, and that expectation was met with a significant gain – up more than 50 percent from February. Members added 10,321 new listings last month, but they also reported an even greater number of pending sales (10,447), leaving inventory near historic lows.

“Although we’re seeing better news for buyers related to increases in new listings during the past three months, we’re continuing to sell inventory at a faster rate,” stated Mike Grady, president and COO of Coldwell Banker Bain. “This lack of supply continues to put an upward pressure on home prices. We’re in for yet another frenzied spring,” he believes.

Total active inventory across the 23 counties in the Northwest MLS service area remained below 10,000 for a second straight month. The selection of active listings rose to 9,774 for a 7.5 percent improvement on February’s volume, but compared to a year ago inventory plummeted nearly 23 percent.

“It’s a straight up crazy, frenzy market in King and Snohomish counties,” said J. Lennox Scott, chairman and CEO of John L. Scott. About 75 percent of homes are selling within the first 30 days, according to his analysis.
The lack of supply continues to put upward pressure on home prices. The median price on last month’s sales of single family homes and condos was $355,000, up 10.9 percent from the year-ago figure of $320,000.

For single family homes only (excluding condos), year-over-year prices jumped 11.5 percent, from $327,300 to $365,000. The median price for a single family home that sold in King County was $599,950, up 12.9 percent from a year ago. Adjacent counties also saw double-digit increases in selling prices for single family homes.

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. 

Click here for the full report and neighborhood-by-neighborhood statistics!

Neighborhood 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

 

Regional Reports

Seattle Homes
Eastside Homes
King County Homes
Mercer Island Homes
Seattle Condos
Eastside Condos
Seattle New Construction
Eastside New Construction

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

March 31st Seattle Area Housing Report

March 31st Seattle Area Housing Report

This week was beyond eclectic as every neighborhood seemed to beat to its own drum completely oblivious to what was happening next door.

Click here for the full report and neighborhood-by-neighborhood statistics!

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

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

March 24th Seattle Area Housing Report

March 24th Seattle Area Housing Report

Sales increased this week at many price points in nearly every neighborhood throughout the Seattle-Eastside region. The $2 million and above price point continues to have more supply than demand, but otherwise the market very much favors home sellers.

Click here for the full report and neighborhood-by-neighborhood statistics!

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

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

March 17th Seattle Area Housing Report

March 17th Seattle Area Housing Report

News of substantial expected mortgage interest rate increases in 2017 may motivate buyers further to purchase while rates are low. Every 1% increase in interest rates equates to about a 10% reduction in purchasing price for the same monthly payment. So if you purchased a $600,000 home at 3.5% interest it would be about the same monthly payment as a $540,000 home at 4.5% interest.

The market quieted this Saint Patrick’s Day week as most neighborhoods saw a status quo result instead of the upward momentum we had been experiencing. Fewer homes available on the market was likely the primary cause of this stagnation. 

Click here for the full report and neighborhood-by-neighborhood statistics!

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

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

March 10th Seattle Area Housing Report

March 10th Seattle Area Housing Report

This week saw the market shift even more extremely to the seller’s favor as inventory diminished even further (as if that were even possible). Our market continues to lavish sellers with a dream list of terms as buyers scramble to compete for the limited supply of homes for sale.

Click here for the full report and neighborhood-by-neighborhood statistics!

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

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

March 3rd Seattle Area Housing Report

March 3rd Seattle Area Housing Report

This week saw a significant uptick in new listing activity in many areas and price points. A sign of things to come? We can only hope! 

Click here for the full report and neighborhood-by-neighborhood statistics!

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

 

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

February 2017 Seattle Area Housing Report

February 2017 Seattle Area Housing Report
Housing inventory reaches record low, but brokers expect spring bounce

KIRKLAND, March 6, 2017) – Home buyers are in a spring mood, but sellers are still hibernating, suggested one broker while commenting about the latest statistics from Northwest Multiple Listing Service. Figures for February and feedback from brokers indicate record-low inventory is spurring multiple offers, rising prices, fewer sales, and frustrated house-hunters.

Year over-year pending sales (mutually accepted offers) declined for the first time since March 2016, falling 8.9 percent. Eight counties, including King and Snohomish, reported double-digit drops in pending sales as the volume of new listings couldn’t keep pace with demand.

During the past three months, brokers have added 17,572 new listings to inventory, down only 5.7 percent when compared to the same three-month period of a year ago. During the latest December-to-February time frame, MLS members reported 22,393 pending sales, far outpacing the number of new listings.

“Our robust market has created extreme conditions, and we’re seeing frenzy hot activity on each new listing coming on the market,” reported J. Lennox Scott, chairman and CEO of John L. Scott. “We’re also experiencing some of the lowest inventory levels on record,” he noted.

In fact, a check of Northwest MLS records dating to 2004 shows no other month when the number of active listings dipped below the 10,000 mark – until last month.

At the end of February, there were 9,091 active listings in the Northwest MLS system, which encompasses 23 counties. That represents a drop of nearly 25 percent from the year-ago total of 12,107.

“Home sellers and buyers are complaining equally about the current market’s low inventory,” remarked MLS director George Moorhead, designated broker at Bentley Properties. “Sellers are frustrated when they cannot find another home to match their current needs, or when a home goes off market so fast that the option of a contingent sale is not even considered,” he stated.

Buyers have been grumbling about the market for the past two years, Moorhead said. “That mood has escalated into a panic as other buyers up the ante – at times to a level that even causes real estate professionals to shake their heads,” he remarked.

Brokers believe seasonality is a factor, with several saying they are expecting an uptick in listings.

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. 

Click here for the full report and neighborhood-by-neighborhood statistics!

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

Regional Reports

Seattle Homes
Eastside Homes
King County Homes
Mercer Island Homes
Seattle Condos
Eastside Condos
Seattle New Construction
Eastside New Construction

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

February 24th Seattle Area Housing Report

February 24th Seattle Area Housing Report

The market is beginning to wake up from a long winter’s slumber. Will it bring new listings and more balance between buyers and sellers??

Click here to view the complete report!

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

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

February 17th Seattle Area Housing Report

February 17th Seattle Area Housing Report

Increased pending sales have further diminished the supply of homes for sale-leaving slim pickings for buyers-especially at price points below $1 million in core metro neighborhoods of Seattle and all of Bellevue. Word on the street among local realtors is that many new listings are coming to market next week. While very welcome news to the ravished home shoppers out there, it falls desperately short of the inventory needed in the market to keep us from teetering into the abyss of an unsustainable seller’s market. 

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

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

February 10th Seattle Area Housing Report

February 10th Seattle Area Housing Report

Pending sales were up in more than half of the region’s neighborhoods. Diminished inventory of available homes for sale continues to be a huge obstacle for home buyers. With local employers such as Amazon adding more than 110,000 workers, regionally and across the globe, and a shortage of buildable land, it’s no wonder housing supply is so tight.

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

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

February 3rd Seattle Area Housing Report

February 3rd Seattle Area Housing Report

Opportunity exists for buyers who get to the game early. We are seeing some properties go under contract with few or no competing offers.

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

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

January 2017 Seattle Area Housing Report

January 2017 Seattle Area Housing Report
Brokers report “high velocity” market, but with hope for homebuyers

KIRKLAND, Washington (Feb. 6, 2017) – Western Washington’s “high velocity” market continued during January with the number of pending sales (7,745) outgaining the number of new listings (6,507), according to new figures from Northwest Multiple Listing Service.

“Properties are moving through the market at an unusually fast pace,” remarked John Deely, chairman of the board at Northwest MLS and the principal managing broker at Coldwell Banker Bain. “Although we have a high number of new listings, they are moving into a pending or sold status within the typical 30-day reporting period. This phenomenon causes a low active listing count,” he added.

 

“If home buyers were hoping that January would start to bring more balance to the housing market, they’re going to be sorely disappointed. The number of homes for sale remains at record lows, and the growth in pending sales tells us that sellers are still firmly in the driver’s seat,” said OB Jacobi, president of Windermere Real Estate.

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. 

Click here for the full report and neighborhood-by-neighborhood statistics!

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

Regional Reports

Seattle Homes
Eastside Homes
King County Homes
Mercer Island Homes
Seattle Condos
Eastside Condos
Seattle New Construction
Eastside New Construction

© Copyright 2017, Windermere Real Estate/Mercer Island |  (206) 232-0446 | mercerisland@windermere.com | 2737 77th Ave SE, Mercer Island, WA 98040.  Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

January 27th Seattle Area Housing Report

January 27th Seattle Area Housing Report

This week marked slower sales activity in many areas as many new listings trickle onto the market. Perhaps buyers are playing the wait and see game? With prices expected to rise further this spring, buyers may not want to sit on the sidelines too long.

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

 

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

January 20th Seattle Area Housing Report

January 20th Seattle Area Housing Report

Fewer new listings this week. Solid sales activity decreases the supply of available homes in most areas. Even the $2 million+ market looks favorable to seller 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
Downtown Seattle Condos
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
Downtown Bellevue Condos

 

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

January 13th Seattle Area Housing Report

January 13th Seattle Area Housing Report

A lot of new listings this week with pending sales nipping on their heels. Much to the dismay of many potential home buyers, this looks to be an early start to strong seller’s market in 2017.

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

 

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

January 6th Seattle Area Housing Report

January 6th Seattle Area Housing Report

A frozen start to our new year didn’t seem to dampen home 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
Downtown Seattle Condos
EASTSIDE
South Bellevue
Mercer Island
West Bellevue
East Bellevue
East Lk Sammamish
Redmond
Kirkland
Woodinville
Renton Highlands
Downtown Bellevue Condos
 © Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

December 30th Seattle Area Housing Report

December 30th Seattle Area Housing Report

A very quiet week as we head into the the New Year with school still out on a 2-week winter break throughout the region. 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
© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

December 23rd Seattle Area Housing Report

December 23rd Seattle Area Housing Report

A very quiet week as we head into the Christmas holiday and school is on a 2-week winter break throughout the region.

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

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

December 16th Seattle Area Housing Report

December 16th Seattle Area Housing Report

Greater activity than typical this week but seeing a noticeable seasonal slow down and we head into the holidays.

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

Timing the market right can bring you thousands when it’s time to sell

Timing the market right can bring you thousands when it’s time to sell

Ever notice how one home on your street sells well above asking price with a line of buyers out the door and an identical home comes on a month later and sits on the market for two weeks before finally selling at a reduced price?

It’s not always about the house. So often, it’s about timing the market well.

Every. Day. Counts.
In a world where potential buyers know how long you’ve been on the market down to the minute, being on the market a nanosecond longer than expected can be painful for any seller, financially and otherwise. Statistically, prices seem to peak around Day 7 and begin to slide downhill after Day 10.

How to time the market in a nutshell.
Avoid coming to market during major holiday weeks or when school is on break. Potential buyers take vacation too—and the fewer buyers out there looking in those precious early days, the lower the likelihood you’ll sell in the first 10 days. Look to come on the market a few days after typical vacations are over to allow buyers to re-engage in the search process.

Avoid coming to market when a similar house in your neighborhood has just listed and not yet sold. The laws of supply and demand would dictate that when supply appears abundant, demand diminishes—and the days tick on by. Even if you are by far the better house and at a better price, you might still be hurt by the curiosity around why everyone is selling now.

Avoid coming to market during bad weather or national events. Like coming on market right smack in the middle of Spring Break, listing when everyone’s attention is on something other than home shopping is likely to miss the mark big time. Even if you were all set to list, better to take a deep breath and wait until the storm passes.

Do come to market when you notice an absence of great listings for sale in your price range and neighborhood. Buyers will likely feel that void too and be chomping at the bit for the next great home to come along. The chances of a perfect match between a solid buyer and a reasonable seller are best in this zone.

Final thoughts.
Look at the holiday calendar and local school district calendars to guide you toward best weeks to come to market. Don’t forget to check in big political and sporting event dates too.

The best day to come to market seems to be Thursday. Often listing brokers arrange showings and open houses on Thursday and Friday evenings and throughout the weekend. The best day to review offers is Tuesday (beating out Monday by only a slim margin). This gives buyers and their brokers ample time to see your home, do due diligence like permit research, a home inspection, and a sewer scope—and get their financial documentation together—before they prepare an offer.

Of course, an outstanding listing broker can help you navigate these waters and chose the most favorable date to bring your home to market.

December 9th Seattle Area Housing Report

December 9th Seattle Area Housing Report

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

© 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

December 2nd Seattle Area Housing Report

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