Those searching for homes in Western Washington are now choosing “from the largest supply of homes in three years,” this according to the latest press release published by the Northwest Multiple Listing Service (NWMLS). As the report outlines, home price growth has slowed significantly, at 6.7 percent across all counties surveyed. This paired with inventory gains is alleviating some pressure on buyers in the market.
Read MoreI am pleased to present a look at housing market trends for the second quarter of 2018, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
Read MoreAccording to a recent article featured in Seattle Times, Seattle is finally seeing inventory increase “as the rapid-fire market that has led to extreme bidding wars and lightning-fast sales slows a bit.” To be sure, looking at numbers from June 2018, the number of single-family homes “jumped an eye-popping 43 percent” while “condo inventory rocketed up 73 percent.” Neighborhoods such as Ballard/Green Lake/Greenwood and SODO/Beacon Hill doubled their inventory, while downtown Seattle condos saw a three-fold increase.
Read MoreWith construction cranes at nearly every turn in downtown Seattle, it is easy for one to look around at all of the high-rises under development and assume they are condominiums. Yet, as Curbed Seattle reports, “the majority of new residential projects going up in the city—and downtown specifically—are destined to be rentals.” This means that out of the multi-family opportunities in the city, only 7.1 percent will be offered for sale. And this is a far-reaching figure, that covers “not just downtown proper, but lower Queen Anne, Belltown, Pioneer Square, Sodo, First Hill and western parts of Capitol Hill.”
Read MoreI am pleased to present a look at the housing market trends for the first quarter of 2018, from the shores of Bainbridge Island's waterfront homes and in-city living opportunities to the Eastside's most distinguished residences.
Read MoreAccording to the most recent data from Northwest Multiple Listing Service, Seattle-area home prices have now reached $820,000, and as Seattle Times reports, the highest gains can be found in South Seattle, a traditionally more affordable part of the city. Looking at South Seattle’s neighborhoods, the Southwest region (including SODO and Beacon Hill) had a median home price of $222,000 in 2012, a figure that in 2018 has reached $661,000. In the Southeast area, the $275,000 median of 2012 has increased to $650,000.
Read MoreIn their latest press release, the Northwest Multiple Listing Service (NWMLS) reports that the January 2018 real estate market far from slowed down, as "activity shows a slight year-over-year gain in pending sales, a double-digit increase in prices, and continued shortages of inventory."
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