While fall usually brings a decrease in sales activity, the opposite was true in September. The number of listings on the market dropped by double digits and home sales rose. It is still a seller’s market, however prices have stabilized. With interest rates near historic lows and employment levels at historic highs, the housing market is expected to stay strong throughout the fall and winter.
Long the most affluent area of King County, the Eastside continues to record the highest home prices in the region. The median price of a single-family home on the Eastside was $928,500 in September, an increase of 4% from a year ago and a decrease of less than 1% from August. The Eastside construction boom continues, indicating that developers remain confident in the strength of the local economy.
Windermere is proud to partner with the Seattle Seahawks for the fourth season to help #TackleHomelessness. For every Seahawks home game defensive tackle, Windermere will donate $100 to Mary’s Place, whose mission is to help families on their journey out of homelessness. To date, we’ve raised nearly $100,000 through our #TackleHomelessness campaign and we’re looking forward to raising even more for our friends at Mary’s Place!
Check out Mary’s Place and see the positive impact they are having on our community.
On May 4 the Montlake Cut will play host once again to the Windermere Cup rowing regatta. For the past 33 years, Windermere Real Estate and the University of Washington have joined together to host this event, which brings the world’s best crews to Seattle to compete against the perennially acclaimed UW men’s and women’s teams. Held annually on the first Saturday in May, the Windermere Cup is both an international sporting event and opening day party. The races are followed by the world’s largest boat parade which is put on by the Seattle Yacht Club.
The UW men will go up against one of the oldest programs in rowing, Boston University, and the German National Federation, who is the current World Champion after taking gold in the 2018 World Championship. This is the first time in the Windermere Cup’s 33 year history that the Germans have competed in this regatta. Both will oppose a Washington men’s crew that has been a dominant program in the United States for several decades and came second in last year’s national championship.
The UW women, who also came in second at the 2018 NCAA Championship, will be opposed by the UCLA Bruins who have been a consistent national competitor in the last four NCAA Championships and the German National Federation women’s team, who have rowed in the A final of the eight competition in the past three Under-23 World Championships.
In addition to the 24 crew races throughout the morning, the family-friendly Windermere Cup event also includes food vendors, booths to purchase UW and Windermere Cup apparel and commemorative gear, as well as a bouncy house for the kids and a selfie stand by Snap Bar. The crew races start at 10:15 am and end around noon, followed by the Opening Day Boat Parade.
Windermere Party on the Cut: Boats Brats Beers Bands
In honor of the German National Crews visiting Seattle to race in the Cup races, we’ll be celebrating German-style. So break out your lederhosen and dirndls and come on out to the party! This year’s pre-race Party on the Cut will take place Friday, May 3rd, from 6 PM to 10 PM. Join us on the northeast shore of the Montlake Cut for an evening of live music, lawn games, and food and drinks. Advance tickets are just $20, or $30 at the door. This year features live performances by Nite Wave and Brian DiJulio & the Love Jacks. This event is 21+ and tickets can be found through Brown Paper Tickets.
For more information please visit windermerecup.com and follow us at Facebook.com/WindermereCup, @WindermereCup on Twitter, and @Windermere on Instagram. Share your excitement and your day-of experience by including the official hashtag: #WindermereCup2019.
Located in quiet area in Arbor Heights this rambler awaits. Vaulted ceilings in living room with stone, wood burning fireplace and large picture windows offering plenty of natural light. Well maintained featuring hardwood floors throughout, fresh paint and new double-pane windows. Kitchen with dining area and pantry. Private, fenced backyard with beautiful apple trees in their peak right now! Attached one car garage with additional storage. You’ll love this little pocket community.
3 bedroom – 1 bath – 950 square feet – $472,500
Enjoy strolls along Alki waterfront to restaurants and beaches. Short walk to Admiral area or Luna Park. This top floor, corner unit offers southern exposure and an abundance of light. Open concept kitchen with granite counters and stainless appliances. Living room with cozy gas fireplace (gas included in dues) and large view deck overlooking Seattle skyline and Elliott Bay. Minutes to downtown Seattle. No rental cap. 2 car garage parking and additional storage. Pet friendly building. Live at Alki!
2 bedroom, 1.75 bath – $399,000 – 3318 30th Ave SW #A503, Seattle, WA 98116
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
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.
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.
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.
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.
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.
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.
The local real estate market set new home price records in many parts of the region in February. Prices here have grown faster than anywhere else in the country for the last 16 months in a row. Demand remains high and inventory very low. Brokers are hoping the normal seasonal increase in listings this spring will help give buyers some relief.
With home prices soaring on the Eastside, it’s not a matter of whether the median price will exceed a million dollar, but when. February brought the market very close to that milestone. The median price of a single-family home increased 14 percent to a record $950,000 on the Eastside, surpassing the previous peak recorded in December.
The red-hot job market in King County continues to outpace nearly every area in the nation. Well-paid workers looking to buy close to city centers have fueled a growing competition for a shrinking number of homes. That demand boosted the median price of a single-family home up 16 percent over a year ago to $649,950.
The median price of a single-family home in Seattle hit a new high of $777,000 in February, $20,000 more than the previous record set in January and up 14 percent from the same time last year. Despite the sharp increase in prices, multiple offers have become the norm for most properties. It remains to be seen if recent interest rate hikes will have a moderating effect on home values.
After several months of moderating growth, Snohomish County set a new record for home prices in February. The median price of a single-family homes jumped 18 percent to an all-time high of $485,000. Inventory is down from a year ago, with less than a month’s supply of homes available for sale.
If you are considering buying a home in today’s market, here are three things to consider:
- Make sure you can afford the payments.
- Choose a location that will appeal to you long-term.
- Be committed to living there for a minimum of five to seven years.
This month Windermere Real Estate Co. has teamed up with neighboring restaurants to Dine Well – Do Good. Each Monday night in the month of June, Windermere Real Estate Co. is matching tips made to servers – up to $3,000 per night – and 100% of these funds will be donated to Food Lifeline, via the Windermere Foundation.
Food Lifeline is the food bank to food banks. They rescue millions of pounds of surplus food from farmers, manufacturers, grocery stores, and restaurants; then deliver this healthy and nutritious food to 275 food banks, shelters, and meal programs across Western Washington. Through their own ingenuity and clever practices, a single $1 donation can provide the equivalent of four complete meals.
Please join us in supporting local restaurant businesses while also supporting Food Lifeline and the crucial work they do. Browse through the list of participating restaurants and set your Monday night menu for the month of June!