Windermere and the Seattle Seahawks have come together for another season to help #Tacklehomelessness in our community.
As part of that campaign, Windermere is hosting a “We’ve Got You Covered” winter drive for YouthCare, a non-profit that provides support and services to homeless youth throughout the Puget Sound area.
We are collecting NEW hats, scarves, gloves/mittens, and warm socks.
From October 15 through November 9, you can drop off donations to participating Windermere offices in King and Snohomish Counties**. Our friends at Gentle Giant Moving Company are generously donating their time and trucks to pick up all of the donations from our offices. Donations can also be dropped off directly to YouthCare, Monday through Friday from 9am-5pm, at 2500 NE 54th St, Seattle, WA 98105.
Each night, over 1,500 young people are homeless in King County. Please help them stay warm during the cold winter months by dropping off your donations to our participating offices.
For more information, contact me at 206-200-0222
Our housing market is finally cooling a bit, from scorching hot to slightly-less-sweltering. While some alarmists are talking bubble or impending crisis, the statistics tell a different story. The market does appear to be shifting, and that’s good news! The steep price increases of the past few years are not sustainable, and also risk pricing buyers out of the market altogether.
Where The Market Is Today
- Inventory is up, but still far short of demand. Despite a considerable increase in inventory, King County has just six weeks of supply. Four to six months of inventory is what is considered a balanced market, and we’re far short of that.
- Homes are staying on the market a bit longer. New listings have increased in the past few months, but the increase in inventory is primarily due to homes staying on the market longer. With buyers accustomed to homes being snapped up in days, “longer” is a relative term. Homes in King County are taking an average of 15 days to sell.
- Prices appear to be moderating. While home prices are up compared to a year ago, the rate of increase is in the single digits rather than the double-digit surges of past months. Prices are down 4 percent from the record high reached this spring.
What This Means For The Housing Market
- The shift towards slower, consistent appreciation will result in a healthier market.
- Buyers have more choices and more time to make an informed decision.
- It’s still a seller’s market, but sellers need to have realistic expectations about pricing their homes as the market softens.
- More inventory is still needed to meet demand.
Whether you’re thinking about buying or selling, it’s important to have the most current information about the market. Please contact us today and we can provide you with information about today’s market and answer any questions you may have.
Private setting for this traditional two story in sought after Somerset. Dramatic living room with soaring cathedral ceilings. Updated kitchen with custom cabinets and stainless counters. Open concept floor plan flows into family room with fireplace and deck overlooking fenced backyard. Master suite with new tiled bath and walk-in closet. One of the larger yards in the neighborhood with a park-like feel including Rainbow Play System that stays. Top notch schools: Somerset, Tyee and Newport.
4605 Highland Drive – 4 bedroom, 2.5 bath – 2,470 sq ft – $980,000
Link to listing details here.
Charming home located on a private setting next Larsen Lake. Classic mid-century home is sure to check all the boxes; updated kitchen, 5 bedrooms (3 on main level), 3 remodeled baths, refinished hardwood floors, newer vinyl windows. Open floor plan is light and bright with large picture windows and southwest exposure. Lower level family room w/new gas insert. Corner lot with big yard and additional off street parking. Convenient location w/easy access to everything. You’re sure to love it here! $898,000 53 151st Pl SE, Bellevue, WA 98007
The number of homes for sale in August increased dramatically over the same time a year ago. This is the result of a moderate increase in new listings and a much slower pace of sales. Homes are staying on the market longer, giving buyers more choices and more time to make an informed decision. While home prices are up compared to a year ago, the rate of increase was in the single digits rather than the double-digit surges of past months. It’s still a seller’s market, but sellers need to have realistic expectations about pricing their homes as the market softens.
The median price of a single-family home on the Eastside was up nearly 10 percent from the same time last year to $935,000. Home prices have declined each month from the all-time high of $977,759 set in June. Inventory increased 73 percent over last August. With supply soaring and home prices moderating, sellers need to work with their broker to price their home to meet the current market conditions. A year ago 47 percent of the homes on the Eastside sold for over list price. This August that number was down to 29 percent.
King County experienced yet another flood of inventory with the number of homes for sale jumping 65 percent over the previous year. Despite the growth, the county has just 1.9 months of inventory and remains a seller-oriented market. The market has slowed but it remains fast-paced, with 62 percent of the properties here selling in fewer than 15 days. While home prices were up 3 percent from a year ago, the median price of $669,000 represented the third straight month of declines from the record-high of $726,275 reached in May.
After leading the nation in home price growth for nearly two years, Seattle is finally cooling off. The median home price in August was $760,000, up just 4 percent from last year and down from the record $830,000 reached in May. Inventory soared in August, but the city still has just two months of supply, far short of the four to six months that is considered balanced. Bidding wars are becoming less common and price drops more common. Sellers must adjust their expectations to what appears to be a long waited moderating of the market.
Mirroring the market slowdown in King County, Snohomish County also experienced a cooling off in August. The median price of a single-family home was $492,000, up 8 percent from a year ago but down from the record high of $511,000 two months prior. Inventory increased nearly 30 percent, but at just 1.6 months of supply the market remains very tight and sales are brisk. Sixty percent of homes here sold within 15 days.
This classic Somerset home offers stunning views from almost every room on both levels. Sweeping skyline views of Seattle & Bellevue and mountain views from the Northern Cascades to sunsets over the Olympics. Open living room with vaulted ceilings, fireplace and floor to ceiling windows. Large kitchen with eating area. Level backyard with plenty of room to play and soak in the views. Spacious lower level offers many possibilities. Convenient Somerset location, with top notch schools. $1,688,000
4502 137th Ave SE, Bellevue WA 98006
Sweeping sunset views over the Olympic Mountains to North Cascades.
Open concept living with floor to ceiling windows to soak in the view.Views from nearly every room in the house.Located in sought after Somerset – this house is not to be missed.
Just Listed – Charming 3 bedroom, 2 bath condo is beautifully updated. Level entry, corner unit located on a private treed setting. New hand-scraped hardwood floors throughout. Main floor bath totally remodeled. Master suite with full bath and deck with southwest exposure. Living room with fireplace. Covered deck with access to additional storage. Amenities include outdoor pool, hot tub, & exercise room. No rental cap or pet restrictions! Easy access to 405 and I-90 for close in commute. You’ll love it here! All this for $300,000
Open Saturday and Sunday 1-4
Beautifully updated Northwest Contemporary in sought after Somerset. Mountain and territorial views are framed by the tree lined private setting. 5 bedrooms and 3.5 baths including full guest quarters in daylight lower level with separate entrance. Light filled kitchen opens to family room with gas fireplace. Living room with vaulted wood wrapped ceilings. Deck overlooking private backyard. 3 car garage, additional work space, and an abundance of storage. Convenient location and top ranked schools – Somerset, Tyee, Newport
All the listing details here.
Last month brought some long-awaited, positive news for buyers with May posting the most new listings in over a decade. Despite the uptick in inventory, most homes are selling in less than a month. Prices haven’t been impacted either, with the majority of the region continuing to experience double-digit home price increases.
The median home price on the Eastside hit an all-time high of $960, 000 in May; a 10 percent gain over the same time last year. While there were a third more homes for sale in May than a year ago, the area still had only about a month of available inventory. Three to six months is considered a balanced market. Redmond, a city with a population of 64,000, currently has only 51 single-family homes on the market.
First the good news: Those looking to buy a home in King County in May had almost 1,000 more homes to choose from compared to the previous month. The bad news: That boost in inventory did little to moderate home prices. The median price for a single-family home jumped 15 percent to $726,275, up slightly from the record high set in April.
A strong economy and desirable lifestyle have kept Seattle a leading destination for job-seekers. The ever-increasing demand for housing has sapped supply and sent prices soaring. For 19 months Seattle has led the nation in rising home prices. May saw the city set yet another record, with the median home price jumping 14 percent to $830,000.
Soaring prices in King County combined with rising interest rates make Snohomish County an affordable alternative for those willing to extend their commute time. The typical home cost $500,000 in May, an increase of 11 percent over the previous year, and down very slightly from last month.
This post originally appeared on the WindermereEastside.com Blog.
Timeless style with the ease of one level living. Charm abounds in this beautifully-maintained rambler with vaulted ceilings and new hardwood floors. Living room with wall of windows to take in this park-like oasis with views of Lake Washington and Olympic mountains. Four bedrooms including private master suite with an abundance of closet space. Family room off kitchen & eating area. Large patio. Upgraded vinyl windows. Two car garage. Award winning schools, just 4 blocks to Somerset Elementary! 4481 142nd Ave SE, Bellevue ~ $1,200,000