Seattle / Eastside Market Report – June 2018

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.

Eastside

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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.

King County

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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.

Seattle

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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.

Snohomish County

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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.


Posted on June 12, 2018 at 9:38 am
Stephanie Kristen | Posted in economy, real estate, statistics |

Rare Rambler in Somerset

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

Link to full listing here.

 

 


Posted on May 20, 2018 at 10:04 am
Stephanie Kristen | Posted in listings, real estate, somerset |

Just Listed in Whittier Heights

Traditional Tudor awaits in Ballard’s Whittier Heights. This classic beauty offers 3 floors of highly functional living, with period details lovingly intact: plaster walls, coved ceilings, fireplace, refinished hardwoods. All the must haves are here: remodeled kitchen, 4 bedrooms plus den, 2 full baths, updated systems, new windows, and a lower level bonus room with storage at every turn. One car garage and charming backyard with patio and garden beds. A+ street and neighborhood.

7704 Dibble Ave NW, Seattle ~ 4 bedrooms plus den/ 2 baths/ 3005 sq ft ~ $1,000,000

Link to full listing.


Posted on May 12, 2018 at 7:31 am
Stephanie Kristen | Posted in listings, seattle |

Just Listed in Fairwood Greens

Welcome home to this Fairwood Greens charmer. Lovingly maintained this spacious tri-level home arrived just in time for easy summer celebrating. Updated windows soak in the views of the tree lined 17th fairway. Living room with fireplace and formal dining. Generous master suite, plus two bedrooms and remodeled bath up. Huge bonus room with new hardwood floors, and access to back. Outside, an entertainers patio awaits with hot tub, garden beds & firepit. You’ll love living here!

Full Listing Here.


Posted on May 12, 2018 at 6:50 am
Stephanie Kristen | Posted in listings, renton |

Mid Century Marvel

First time on the market and in original condition, this mid-century marvel is not to be missed. Ideal floor plan with open concept living, dining and kitchen. Large picture windows with bright southwest exposure. Fantastic statement wall with three dimensional tile and fireplace. Warm wood wrapped ceilings. Room for everyone with three bedrooms plus bonus room and two full baths. Lower level family room and shop. Ready for a new owner to introduce this home to today’s modern conveniences.   $375,000    Detailed information here. 


Posted on April 29, 2018 at 10:50 am
Stephanie Kristen | Posted in listings, real estate, seattle |

Just Listed Bakerview at Lakemont

Tucked away on a quiet cul-de-sac, this traditional two story is sure to please. Remodeled gourmet kitchen. Open floor plan transitions seamlessly to backyard oasis. $1,350,000 Open this weekend 1 – 4.

Details here.


Posted on April 28, 2018 at 8:22 am
Stephanie Kristen | Posted in bellevue, issaquah, listings |

Home Prices Hit New Records: Take Advantage Of Your Equity

The Great Recession took its toll on housing prices, with home values declining throughout the country.  Since then, prices have rebounded. While many areas of the U.S. are not back to pre-crash levels, home values in Washington State have increased significantly.
Homeowners here have the second highest appreciation rate in the country.
 The economists at CoreLogic recently released a special report entitled Evaluating the Housing Market Since the Great Recession. In the five-year period from 2012 to 2017, home prices in Washington have appreciated 57 percent. The national average was 37.4 percent.
The map below was created to show the 5-year appreciation from December 2012 to December 2017 by state.

 Take advantage of your increased home equity.

If you’re thinking about selling your home, now is an excellent time to take advantage of your sharp increase in equity. Today’s market very strongly favors sellers, so you can expect to get the best possible price for your property. It’s also not uncommon today for the buyer to accommodate your needs as you look for another home.

Posted on April 24, 2018 at 7:13 pm
Stephanie Kristen | Posted in economy, listings, market trends |

Panoramic Views in Somerset

We’re pleased to present this updated traditional home in Somerset.  The home boasts unobstructed panoramic view of Lake WA, the Olympics, Seattle and Bellevue skylines.  Walls of windows flood the home with natural light and maximize the view. Gorgeously landscaped yard with perennials and flowering shrubs welcome you to the front door.  Level entry with full daylight basement and flat backyard, perfect for play.  Updated kitchen with an abundance of storage and endless view.  Award winning schools, Somerset, Tyee and Newport. Stop by this weekend and check it out.  Open Saturday and Sunday 1-4.

Link to listing for more information.

 

 

 


Posted on April 20, 2018 at 3:56 pm
Stephanie Kristen | Posted in bellevue, listings, real estate, somerset |

Hustle to Fight Homelessness

Original posting from Plymouth Housing Group

Have you joined the Hustle?

This weekend is your chance to join Elysian Brewing and the Seattle Seahawks as they hustle to make a difference for Plymouth’s residents!

In the Hustle to Fight Homelessness, these great organizations are competing to collect household items and food to help Plymouth’s new and current residents transition smoothly from life on the streets to life in a supportive community.

And you can help! Drop off donations of food and new or gently used household items (for the complete list click here) at a Seahawks Pro Shop or Elysian Brewing location by Sunday, April 15.

Listen to Marilyn, Plymouth’s Manager of Clinical Development, and Searetha, Plymouth resident and Board Member, share the importance of Plymouth’s mission.

Posted on April 12, 2018 at 3:54 pm
Stephanie Kristen | Posted in community, giving back, seahawks |

Seattle / Eastside Market Report – April 2018

Despite the typical seasonal surge in new listings, supply in our area continued to fall far short of demand in March. With just two weeks of available inventory in every market, competition for homes is intense. The result was another month of double-digit price increases as compared to a year ago. The region has now led the country in home price increases for 17 months in a row. The prediction for the spring market: HOT with no signs of cooling.

Eastside

>>>Click image to view full report.

The median price of a single-family home was up 6 percent over last March to $926,000, down slightly from the record-setting price last month. Sales were brisk at every price, including the luxury market. Sales of homes priced at $2 million or more were up 23 percent in the first quarter of 2018 as compared to the previous year.

King County

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A booming economy combined with insufficient inventory propelled prices to an all-time high in March. The median price of a single-family home in King County jumped 15 percent to $689,950. Multiple offers remain the norm. Buyers here need to plan on moving very quickly and working with their agent on strategies to navigate bidding wars.

Seattle

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The median home price in Seattle set a new record of $819,500 in March, up a whopping 17 percent from a year ago. Homes are selling within days of being listed. Only 19 single-family homes are currently on the market in Ballard and just 24 in Queen Anne. South Seattle, traditionally the most affordable part of the city, has seen the greatest increase in prices.  Home values in these neighborhoods have nearly tripled since the recession ended, while home values in the rest of the city have doubled.

Snohomish County

>>>Click image to view full report.

Once a less competitive market than King County, Snohomish County now has the lower amount of inventory of the two. The median price of a single-family home grew 12 percent over a year ago to $475,000. Prices here remain significantly lower than in King County and many buyers priced out of that market are trading a longer commute time for the opportunity of ownership.


Posted on April 9, 2018 at 11:58 am
Stephanie Kristen | Posted in bellevue, economy, market trends, seattle, statistics |