Local Market Update – April 2019

After months of softening, home prices began to rise in February. That trend continued in March. While prices in most areas were down from the same time last year, they increased over the prior month. New listings rose as well, offering buyers more options and more time to make the right choice. Despite the uptick in listings, inventory is still under two months of supply, far short of the three to six months that is considered balanced.

Eastside

>>>Click image to view full report.

Unlike most of King County, home prices on the Eastside grew over the prior year. The median price of a single-family home on the Eastside rose 3% to $950,000. That represents an increase of $50,000 over February. Amazon’s plans to relocate its worldwide operations team to Bellevue is expected to add thousands of employees to their Eastside campus and put even more demand on what is already tight inventory.

King County

>>>Click image to view full report.

 

The median price of single-family home in King County in March was $667,725. That figure was down 3% from the same time last year, but up from the $655,000 median price in February. The two areas that showed price increases year-over-year were the most expensive area in the county – the Eastside – and the least expensive – Southeast King County. The number of homes for sale was more than double that of a year ago, but still far short of enough to meet demand.

Seattle

 

>>>Click image to view full report.

The median price of a single-family home in Seattle hit $752,500 in March, down 8% from a year ago, but up $22,500 from February. Inventory rose 136% over last year. Despite the increase, new listings that were competitively priced saw many multiple and contingency-stripped offers.

Snohomish County

 

>>>Click image to view full report.

In Snohomish County, the median price of a single-family home grew 5.3% over last year to $500,000. That was an increase of $25,000 over February. A new passenger terminal at Paine Field is expected to provide a boost to the local economy and also lift demand for housing.

This post originally appeared on GetTheWReport.com.


Posted on April 11, 2019 at 9:47 pm
Julia and Mark Krill | Posted in Local Market Update, Real Estate News | Tagged , , , , , , , , , , ,

Local Market Update – March 2019

The spring home buying season started early this year. Open houses had increased attendance and bidding wars returned. After months of softening, home prices in most of the region jumped significantly from the prior month. With just one month of data, we’ll have to wait and see if this is the start of a longer upward trend.

Eastside

>>>Click image to view full report.

The Eastside was one area of King County that continued to see prices moderate. The median price of a single-family home on the Eastside was $900,000 in February, a drop of 5 percent from a year ago and down slightly from last month. However, supply here isn’t nearly enough to meet demand, a fact that most likely won’t change any time soon. Amazon’s latest expansion in Bellevue is expected to bring a significant wave of new employees to the city.

King County

>>>Click image to view full report.

The median single-family home in King County sold for $655,000 in February. While up slightly less than 1 percent year-over-year, it was an increase of $45,000 over January. Southeast King County, which includes Kent, Renton and Auburn, saw the greatest gains with prices rising 4.5 percent over the previous year. While inventory has grown, it is less than half of the four to six months that is considered balanced.

Seattle

>>>Click image to view full report.

More inventory and low interest rates helped bring buyers back into the market. The median price of a single-family home in Seattle hit $730,000 in February, down 6 percent from a year ago, but up $18,500 from January. With just six weeks of available supply, Seattle continues to have the tightest inventory in the county. Seattle’s record development boom shows little signs of easing, so we can expect strong demand to continue.

Snohomish County

>>>Click image to view full report.

The median price of a single-family home in Snohomish County reached $474,947 in February. Although that is a 2 percent decrease from last year, it is $5,000 more than January. As buyers push outside of King County to search for more reasonably priced homes, Snohomish County continues to struggle to find enough inventory to meet growing demand.

This post originally appeared on the WindermereEastside.com Blog.


Posted on March 13, 2019 at 3:44 pm
Julia and Mark Krill | Posted in Local Market Update | Tagged , , , , , , ,

Local Market Update – February 2019

January brought more good news for homebuyers. Prices were down, inventory was up and interest rates hovered near a nine-month low. Those factors drove more buyers into the market and resulted in an uptick in sales for the month. We’ll see how this transitioning market evolves as we head into the prime Spring home buying season.

Eastside

>>>Click image to view full report.

The most expensive region in King County saw prices soften in January. The median price of a single-family home on the Eastside dropped 3 percent over last January to $910,000. It’s an excellent time for buyers to leverage the cooling market and negotiate terms that work best for their needs. Last January, 39 percent of the homes in this area sold for over asking price. This January, that figure dropped to 12 percent. With its favorable business climate and high rankings for both economic growth and technology capabilities, demand on the Eastside is projected to remain strong.

King County

>>>Click image to view full report.

January marked the first time home prices in King County decreased year-over-year in seven years. The median price of a single-family home was $610,0000, a drop of 3 percent over the prior year. Inventory more than doubled. Unlike recent months, this was due primarily to more people putting their homes on the market, as opposed to homes taking longer to sell. Despite the surge in listings there is just two months of available inventory, far short of what is needed to meet demand.

Seattle

>>>Click image to view full report.

The median price of a single-family home in the city was $711,500 in January, a decrease of 6 percent year-over-year. Despite a 107 percent increase in homes for sale compared to a year ago, Seattle continues to have the tightest inventory in King County with less than two months of supply. A booming economy that shows no signs of slowing continues to draw more people to the city. The area will have to significantly add more inventory to meet that growing demand.

Snohomish County

>>>Click image to view full report.

The median price of a single-family home in January inched up 1 percent from last year to $455,000. That price is down from the median of $470,000 recorded in December. Snohomish County also saw a surge in inventory with the number of homes on the market double of what it was last year at this time.

This post originally appeared on the WindermereEastside.com Blog.


Posted on February 13, 2019 at 11:19 pm
Julia and Mark Krill | Posted in Local Market Update | Tagged , , ,

More Than a Yard: Finding the Right Home for Your Pooch

For many house hunters, a dream home isn’t complete without being a good fit for the family dog. Some might see the fenced in yard, and consider the box checked. However, if you are looking for your next home, you may want to look a little deeper to be sure the fit is right before signing on the dotted line.

It’s worth taking a little extra time to consider your pooch in a little more depth. Here is a quick checklist of considerations to be sure you find the right fit for your canine companion:

 

What’s in a Yard?

 

A fenced yard is, of course, ideal for many dog owners. It gives you the ability for off-leash play, a must for meeting the exercise needs of active breeds such as Border Collies or Labradors. But not all yards are the same. Here’s a quick checklist of what to look for:

  • Check the fencing to be sure it is secure. Factor in any repair costs into the cost of the home since they will need to be addressed right away.
  • Are there flower beds with potentially toxic plants that will need to be moved outside of the fenced area? Examples include many spring bulb favorites such as daffodils, tulips, and crocus, as well as some bushes such as azaleas.
  • Is there a nice shady spot so your pooch can find shelter from the heat on a hot summer day?
  • Is there access to water for an outdoor bath?
  • Will delivery people be able to access your main entrance when the dog is outside without entering the fenced part of your yard? It is easy to overlook, but this can become a major annoyance if you do a lot of online shopping.

 

Indoor Space Considerations

 

It won’t always be a beautiful sunny day, even in your dream home. Make sure your new home will have enough space for a little indoor play on rainy days and during colder winter months. A long hallway can make a great runway for a game of fetch when getting outside just isn’t practical.

Likewise, consider the needs of aging or injured dogs. Does the layout of the home require going up and down stairs to get to the most used areas of the home? This can be a major problem for some special needs dogs, and a deal breaker for some pet owners.

Finally, most dog trainers recommend that every dog has a little space to call their own during times of stress. This may be as simple as a corner of the living room with a comfy dog bed or crate. If you have a puppy, however, a space that can be puppy-proofed and cordoned off (with appropriate flooring for potential accidents during potty training) is in order.

 

Go for a Walk

 

It may be impractical to include a dog walk for every home you look at while searching for your dream house. However, once you are down to a short list, it is time to actually take your dog on what is likely to be the daily walk route. Make sure this is a walk you would feel comfortable making every day, or even letting the kids take.

Be on the lookout for hazards: A dangerous intersection, a portion of the walk that requires walking in the road, or a neighbor who lets their dog run right up to the curb with invisible fencing (a recipe for territorial fights with leashed dogs passing by). A drive through is unlikely to reveal these walk spoiling annoyances. In addition, look for evidence of good lighting for evening or early morning walks.

 

Nearby Canine Amenities

 

If you are moving to a new part of town or relocating to a new state altogether, it is worth doing some research to find out where the pet services are located. Depending on the services you tend to use, it can make a big difference in your quality of life to be able to take advantage of nearby conveniences.

Think about what services you are likely to use most, and check on Google Maps to locate:

  • Veterinarians
  • Dog boutiques (particularly important if you buy specialty food)
  • Grooming services
  • Doggy daycare and boarding
  • Pet sitting and dog walking services
  • Dog-friendly restaurants (BringFido.comis a great research tool for this)
  • Dog parks and dog-friendly paths for long walks

 

Flooring

 

Although luxurious hardwood flooring adds a great deal of ambiance to a home, it will have the opposite effect if it gets scratched up from the nails of a rambunctious canine. Large and even medium sized dogs can easily create unsightly scars in hardwood floors that can only be fixed by a professional who will need to sand away the wood then stain and refinish it. It’s a costly fix!

Modern carpets can generally hold up to doggy traffic. However, think about where you will be coming in and out of the house with your pooch to be sure you have a place to wipe muddy paws first on rainy days. A mudroom or garage entrance can easily stow a few extra towels for the job.

Tile and high-quality laminate flooring are the most durable as both will resist scratching and are easy to clean.

 

Consider Pet-Friendly Condos and Planned Communities

 

If you have a truly pampered pooch, one way to go the extra mile is to ask your realtor about dog-friendly communities in your area. Many condominium complexes, for example, have pet services right on site. Pet grooming, pet-sitting, dog walking services, and even a fenced in dog park and/or pool is available in some areas.

Work with a Knowledgeable Realtor

 

Make sure to let your agent know upfront that you have a canine member of your family to consider during the house hunt. If there are certain “musts” such as a fenced yard, or proximity to veterinary services, be sure to put that on the table upfront to help your realtor find a home that works for you and your furry friend.

 

Sharon is the lead author at wileypup.com. She received her M.S. in Science & Technology Studies from Virginia Tech and has worked as a professional dog trainer for over 10 years.

This post originally appeared on the Windermere Blog.


Posted on February 7, 2019 at 4:41 pm
Julia and Mark Krill | Posted in Buying a Home, For Your Home |

Windermere Foundation Surpasses $38 Million In Total Donations Raised

2018 concluded with another great year of fundraising and giving for the Windermere Foundation, thanks to the continued support of Windermere franchise owners, agents, staff, and the community. Nearly $2.5 million was raised in 2018, bringing our grand total to over $38 million raised since the Foundation’s inception in 1989! During the past year, nearly $1.9 million was donated to non-profit organizations throughout the Western U.S. that provide much-needed services to low-income and homeless families. In 2018, the Windermere Foundation fulfilled 689 grant requests and served 507 non-profit organizations.

A portion of the money raised every year is due in part to our agents who each make a donation to the Windermere Foundation from every commission they earn. Additional donations from Windermere agents, the community, and fundraisers made up 68% of the money collected in 2018. Each Windermere office has their own Foundation funds, which enable them to support local non-profits in their communities.

One organization that received Windermere Foundation donations from several Windermere Real Estate offices in the Seattle area is Treehouse. Treehouse’s mission is to give foster kids a childhood and a future. Their goal that they have set to achieve by 2022, is to see youth in foster care graduate from high school at the same rate as their peers across Washington State. And to provide them with support and a plan to launch successfully into adulthood. Donations from the Windermere Foundation have helped Treehouse clients like Ashley, get the support she needed to turn her life around.

“I didn’t have a childhood that all kids should have–like making friends my age or playing sports. I changed the path that I was on because I wanted to give people a reason to believe in me. You have to want to change and speak your truth, but you can’t do it without people believing in you. You can get through the darkest situations, you just gotta look for a little crack of light. Treehouse is that crack of light for me,” ~Ashley

 

2018 also marked the third year of our #tacklehomelessness campaign with the Seattle Seahawks, in which Windermere committed to donating $100 for every Seahawks home game defensive tackle to YouthCare, a non-profit organization that provides critical services to homeless youth. While the Seahawks didn’t make it past the first round of the playoffs, they did help us raise $31,900. When added to previous seasons, the total donation for the past three years is $98,700! We are grateful for the opportunity to provide additional support to homeless youth thanks to the Seahawks, YouthCare, and the #tacklehomelessnesscampaign.

Thanks to our agents, offices, and everyone who supports the Windermere Foundation, we have been able to make a difference in the lives of many families in our local communities over the past 30 years. If you’d like to help support programs in your community, please click the Donate button.

To learn more about the Windermere Foundation, visit http://www.windermere.com/foundation.

This was originally posted on the Windermere Blog.


Posted on January 23, 2019 at 10:23 pm
Julia and Mark Krill | Posted in Windermere Foundation | Tagged , , , , ,

Local Market Update – January

A cool-down in prices and a surge in inventory spelled out good news for buyers in December. Median home prices throughout the region continued to moderate. The number of homes for sale more than doubled over a year ago. Condo inventory more than quadrupled. While we’re still far short of the four to six months that are considered a balanced market, December moved us closer in that direction. As winter months traditionally bring slower sales and lower prices, we’ll be able to determine a more solid trend when the peak real estate season comes this spring.

Eastside

>>>Click image to view full report.

The number of single-family homes and condos on the market in December tripled as compared to a year ago on the Eastside. With an abundance of choices for buyers, homes here took longer to sell. However, well-priced homes still sold within weeks rather than days, which was the case earlier in the year. As with all of King County, home prices here continued to moderate. The median price of a single-family home was $909,000. That’s down 3 percent from a year ago, but up from November’s median price of $885,000.

King County

>>>Click image to view full report.

In December, the median price of a single-family King County home was $639,000. That is 0.6 percent more than the same time last year and a welcome respite from the double-digit increases we saw for much of 2018. Inventory was up as well, soaring 143 percent from a year prior. The trend toward a more balanced market is good news for buyers. Instead of having to make a decision in a matter of hours, buyers now can take the time to consider their options and negotiate a price and terms that work best for them.

Seattle

>>>Click image to view full report.

Last December there were only 299 homes on the market in Seattle. This December there were 1,111. Despite the sharp uptick, Seattle has the tightest inventory in King County with less than two months of supply. Demand is predicted to stay high in 2019. With an abundance of high-paying jobs and not enough people to fill them, Seattle’s population is expected to grow at twice the national rate this year. Prices have continued to moderate from the unsustainable increases of last year. The median price of a single-family home inched up 2 percent from the year prior to $739,000.

Snohomish County

>>>Click image to view full report.

The median price of a single-family home was up 4 percent from last year to $470,000 in December – the same price the area posted the previous month. Inventory has more than doubled in the past year due to more sellers listing their homes and fewer sales. However, at 2.6 months of supply the area has a long way to go before becoming a balanced market.

This post originally appeared on the WindermereEastside.com Blog.


Posted on January 14, 2019 at 6:35 pm
Julia and Mark Krill | Posted in Buying a Home, Local Market Update, Real Estate News, Uncategorized | Tagged , , , , , , , ,

Market Update – December 2018

The real estate market continued to improve for buyers in November. Interest rates dropped slightly, price increases slowed and inventory soared. It’s important to note that inventory increases, while significant, are being compared to the record low supply of last year. We’re still far short of the inventory needed for a truly balanced market, however buyers have greater choice and less competition than they’ve had in years. Sellers who price their home according to current market conditions continue to see strong interest. Heading into the holiday season, there’s something for everyone to celebrate.

Eastside

>>>Click image to view full report.

The Eastside economy continues to be very strong. Heavy investment in commercial construction from companies such as Vulcan boost expectations that the area will continue to thrive. The median price of a single-family home in November hit $885,000 on the Eastside. Although an increase of 4 percent from a year ago, home prices have remained steady since this fall. With continued demand and only 2.4 months of inventory, the market has a long way to go to becoming balanced.

King County

>>>Click image to view full report.

Price increases continued to slow in King County. The median single-family home price was $643,913 in November, an increase of 2 percent over a year ago. South King County, where the most affordable homes in the county are located, saw significantly greater increases compared to a year ago. North King County also posted greater increases than the county overall. Inventory has skyrocketed as the number of homes for sale in King County more than doubled year-over-year. While that’s good news for buyers, there is only 2.1 months of available inventory in the county, slightly down from October and not nearly enough to meet demand.

Seattle

>>>Click image to view full report.

The median price of a single-family home in Seattle was $760,000 in November. This is up 3 percent from a year ago and slightly up from October. Inventory jumped 177 percent year-over-year however, at just two months of supply, the Seattle area has the tightest inventory in King County. With the city’s strong economy and lifestyle appeal, that’s not expected to change any time soon. Forbes recently named Seattle as the best place for business and careers in the nation. U.S. News & World Report ranked the University of Washington among the top ten universities in the world with Money Magazine rating Seattle the #5 Best Big City to Live In.

Snohomish County

>>>Click image to view full report.

Inventory in Snohomish County continued to climb, surging 88 percent in November as compared to a year ago. That said, the area has fewer homes for sale than King County with just 1.8 months of inventory. This is still far short of the four to six months of supply that is considered a balanced market. The median price of a single-family home sold in November was up 6 percent from last year to $470,000, virtually unchanged from October.

This post originally appeared on the WindermereEastside.com blog.


Posted on December 13, 2018 at 6:22 pm
Julia and Mark Krill | Posted in Buying a Home, Local Market Update, Real Estate News, Uncategorized | Tagged , , , , , , , , , ,

How to Stay Safe During the Holidays With Design and Planning

 

While many people look forward to the arrival of a jolly red-suited visitor one night this winter, for all of us the holidays are a gift and a danger. All of us want to stay safe from burglary, and there’s nothing paranoid about taking a bit of extra time to stay safe. The holidays are a time for relaxation, peace of mind, and sharing love and affection. From old-school security tricks to new digital home monitoring tools, there are many options when it comes to keeping our homes safe and preserving that sensibility.

Security bars and gates:

Sometimes the simplest security is just deterring people from trying to get in. While security bars across windows are a great way to keep intruders out of your home, they can be a real eyesore. Luckily, there are now options for decorative security bars that simultaneously protect your home while enhancing its beauty.

Upgrade your locks:

A poorly installed deadbolt can make it easy for an intruder to kick in your door. Start by making sure that your door frames are in good condition and then look into getting a higher quality deadbolt. You’ll find everything from classic models with keys, or digital options that require passcodes or a fingerprint.

It’s also a good idea to check all the locks on your windows. Some older models are easy to jimmy open with a little wiggling. For ground floor windows, you may want to consider double locks. It goes without saying, leaving windows open during the summer is a bad idea – especially those that can be easily accessed.

Exterior and interior home lighting:

Having your exterior lights on timers or motion sensors is a good way to deter nighttime snoopers.  Add sensor lights to key entry points on your home, including the front door, back door, and/or basement entries. If you have an unused side yard, consider lighting there too. Keeping your home lit makes unwanted visitors weary of being seen.

If you will be gone from your home for an extended period of time, consider using timed lighting options in your home to make it appear someone is around. You can select timers for bedrooms or living areas. Also, you can program a radio to turn on and off for sound.

Alarm systems:

If you are considering an alarm, you have an array of options that vary from self-install motion detection kits to full-service home security systems.  If you choose to do-it-yourself, you will want to install motion detectors on doors and windows – especially those that can be easily accessed on the ground floor. In most cases, these kits also offer a 24-hour call service for an extra fee.

Full-service security systems can include everything from an alarm system and panic buttons to and integration with your smoke detectors/ fire prevention system. These services are expensive up front but usually have a reasonable monthly rate. And keep in mind, having a home security system installed can also reduce your insurance rates.

If installing an alarm system is cost-prohibitive or does not fit your lifestyle, consider purchasing stickers and a sign that state that your home is monitored by a trusted security system, and place them so they are visible at every entrance.

Security cameras:

Security cameras are readily available for home installation. You can install these in prominently viewed places to deter burglars. There are do-it-yourself install options and professional systems that come along with monitoring services.  There are even options that will work with your smartphone. If the cost of security cameras is too steep for your budget, you can purchase fake cameras to act as a visible deterrent for intruders.

Build your community:

Programs like Neighborhood Watch are very successful in some communities, by creating an environment where everyone is looking out for each other. Building close-knit relationships with your neighbors can go a long way in making you feel safe at home. Whether this is through a formalized program, or a shared agreement with your community, developing relationships with your neighbors is a great way to keep your home safe.

This post originally appeared on the Windermere Blog.


Posted on December 4, 2018 at 5:26 pm
Julia and Mark Krill | Posted in For Your Home | Tagged , , , , , ,

Bringing Your Plants Inside for Winter

Winters in many parts of the Western U.S. can easily see temperatures that dip down below freezing. For many gardening homeowners, this can be troublesome when precious plants are concerned. Covering your plants with sheets may not be enough to save a plant from succumbing to freezing temperatures. Check out these ways to bring your plants inside for winter:

 

Take Inventory of Plants

Unless you have planted exotic plants that are definitely not going to survive cold temperatures, there are probably more than a few plants within your yard that should be okay. Healthy native plants are used to the climate of your area and should be able to withstand the winter temperatures without any issue. Those plants that are better suited for a higher growing zone will need to be cared for in order to best survive the season. Consider every plant within your yard and access their health, maturity, and location in order to choose which plants to bring indoors.

 

Indoor Placement

Exotic plants love the sun and should be placed near southern facing windows that aren’t drafty or cold. Create a spot within your home that is far from drafts or cold breezes from open doors. Spread plastic sheeting to protect flooring and create a little greenhouse group of plants that will still receive plenty of sunlight. Refrain from placing plants too close together in order to allow for equal access to sunlight and air flow.

 

Container Issues

Many potted plants can easily be moved indoors without having to transplant them. Easily place potted plants in a group to ride out the winter season. In-ground plants within your landscape will need to be transplanted to a container in order to bring them indoors. Make sure that you consider the size of the plant and use a container that is big enough around for the root ball of the plant. Using a container that is much too large for a plant is better than one that is too small and could damage the plant’s root system.

 

Keep the Fan On

Many indoor plants enjoy being near a window but will also need adequate air circulation to prevent soggy soil conditions. It is a good idea to keep the ceiling fan on in the room, at a low speed, in order to keep the air moving within the room. Don’t place plants too close to heating vents in order to keep them from becoming too hot and overheated. Plants that produce browning leaves will need to be moved to a room with a humidifier in order to keep them in good condition as well.

 

Keep Pets Away

Many indoor plants can become curious items for an indoor pet. Make sure to keep pets away from plants in order to keep both safe. Some tropical plants are toxic for animals and some pets can prove damaging to plants. Create a barrier between plants and animals so that both are kept safe during the winter season.

 

Water & Dust

Keeping your plants watered indoors may look different than what it receives in an outdoor environment. Make sure to consider the plant before watering in order to keep it in soil that it prefers. Many winter climates will not see a lot of added water so choosing to water your indoor plants at a minimum will help mimic those conditions that it would receive outside.

Also, check the plants for accumulating dust that can easily be found after a few weeks indoors. Dust off plants on a regular basis in order to keep them healthy and able to absorb important nutrients. Use a wet cloth to gently wipe down leaves in order to keep dust free from indoor plants.

There are many things to consider when choosing to bring plants indoors for winter. Make sure to choose plants carefully and monitor their progress as the winter season wears on. Consider all of these tips for bringing your plants inside for winter in order to keep them from freezing outdoors.

 

Kelly Holland is a gardening and landscape design writer who loves experimenting in her kitchen. Her quirky nature loves a bright color palette so naturally, her coveted garden is covered in a rainbow of fruits, vegetable, and flowers. 

This post originally appeared on the Windermere Blog.


Posted on November 28, 2018 at 9:34 pm
Julia and Mark Krill | Posted in For Your Home, Uncategorized | Tagged , , , , , , , ,

Eastside Market Update – November 2018

Increased inventory, slower sales and more price reductions all point to a balancing market—welcome news for price-shocked buyers. Sales prices are up from last October and down from the all-time high reached this spring. Despite the slowdown, it’s important to point out that we’re only moving back toward what a normal market looks like. King and Snohomish counties each have over two months of available inventory. While that is double the inventory of a year ago, it’s far short of the four to six months supply that is considered a balanced market. Sellers looking to list their home now can be sure there remains plenty of interest among home buyers.

Eastside

>>>Click image to view full report.

The median home on the Eastside sold for $890,000 in October, up 5 percent from a year ago and unchanged from the previous month. While year-over-year price increases were in the single digits for the Eastside overall, several areas, including Kirkland, Woodinville and Mercer Island, experienced double-digit price gains. Buyers are still having to pay a premium for desirable Eastside properties. However, with more choices and less buyer urgency, sellers need to price their home correctly to maximize their chances of getting the best possible return.

King County

>>>Click image to view full report.

Inventory in King County for all homes, both single-family and condominium, soared 102 percent over last October. The increase was due to an influx of new listings and the fact that homes are now taking longer to sell than at the peak of the market this spring. While buyers now have more breathing room to make their decisions, the 2.4 months of inventory in King County is still far from a balanced market. The median price of a single-family home in October was $670,999, an increase of 7 percent from the same time last year, and virtually unchanged from August and September. South King County showed larger increases, with prices rising more than 10 percent from a year ago in Auburn, Kent and Renton.

Seattle

>>>Click image to view full report.

In October, the median price of a single-family home in Seattle was $750,000, up 2 percent from last October and down slightly from last month. While inventory doubled over a year ago, Seattle falls behind most areas of King County in supply with just under two months of inventory available. Demand is predicted to stay high, with Seattle’s population projected to grow at twice the national rate next year. That said, buyers are in the position to be able to negotiate. A recent analysis named Seattle as one of the top markets in the country where it makes the most sense to buy this winter.

Snohomish County

>>>Click image to view full report.

Inventory in Snohomish County soared 65 percent in October as compared to a year ago. The area now has 2.4 months of inventory, about the same relative supply as King County. As with most of the Puget Sound area, the increase in inventory was due to a higher number of sellers listing their homes and fewer sales. Year-over-year, the median price of a single-family home sold in October in Snohomish County grew 8 percent to $473,000. The median price in September was $485,000.

This post originally appeared on the Windermere Eastside Blog.


Posted on November 13, 2018 at 6:17 pm
Julia and Mark Krill | Posted in Buying a Home, Local Market Update, Real Estate News, Uncategorized | Tagged , , , , , , , , ,