The 2017/2018 Market Report: Year End Review & Trends to Watch
Another year has gone by as have many milestones for the Realogics Sotheby's International Realty (RSIR) brand and the Puget Sound housing market. The Seattle/Bellevue metro area led the nation for the entire year in median home prices increases, according to the S&P CoreLogic Case-Shiller Home Price Index, and though inventory remained historically low, RSIR generated $1.5 billion in sales volume, which marked the highest production on a per-broker basis compared with the top ten largest real estate brands in the NWMLS (per Trendgraphix research).
On a global level, Sotheby's International Realty Affiliates achieved $108 billion in sales volume, represented by 950 offices in 69 countries and territories with over 22,000 sales associates. Website visits at SIR.com increased by 25%, with 27 million unique visitors (57% of which originated from outside the U.S.). Sotheby's International Realty was also recognized by Lifestory Research as the "Most Trusted Residential Real Estate Brokerage" in the U.S.
William Hillis, RSIR's acclaimed Research Editor and Data Analyst, has assembled a year-over-year performance review of eight key counties and 29 regional markets. I am pleased to offer these thoughts, as well as trends to watch, as a conversation starter with me.