Archive for the ‘Investment’ Category

Housing Market Report

Posted: October 15th, 2015 by Brad

The latest statistics from the Multiple Listing Service (MLS) show a double-digit drop in inventory, a double-digit jump in closed sales and a near double-digit increase in prices from a year ago. Northwest MLS director Darin Stenvers also expects a slowdown, pointing to new rules for mortgage closings and rising interest rates as culprits. “With [...]

Housing Market Report – Expectations for the remainder of 2105

Posted: September 25th, 2015 by Brad

The big news for our local housing market this year; inventory shortages and rising prices. According to data from the Northwest Multiple Listing Service (MLS) King County’s median price for single family homes has increased 14.4 percent year over year, and the median price for condos has increased 19.7 percent year over year. Basic supply and demand [...]

Median Price Dips, Inventory Remains Tight

Posted: August 19th, 2015 by Brad

King County’s median home price decreased from its record high of $500,000 in June to $485,000 in July. Pent-up demand continues to fuel home sales around Western Washington. “All indicators are that the current momentum in sales volume will be sustainable throughout this year and well into 2016. In short, we remain very busy with [...]

Seattle Market Breaks Records

Posted: July 21st, 2015 by Brad

Seattle’s early start to summer with record breaking heat in June certainly didn’t put a chill on our real estate market. The bigger news from last month’s housing numbers is home values. For the first time ever, King County’s median home value hit $500,000. The previous high occurred in July 2007 at the peak of the last market cycle when [...]

Buyers Abundant, Homes Scarce

Posted: June 10th, 2015 by Brad

Home buyers are in “full sprint” mode while sellers are stalling, according to brokers from Northwest Multiple Listing Service. Demand exists across the price spectrum, fueled by renters, high wage earners and investors. As a result, MLS members are juggling severe inventory shortages and multiple offers in many Seattle neighborhoods and beyond. MLS figures for [...]

Home Values Surge, Buyers Struggle

Posted: April 15th, 2015 by Brad

Low inventory has many Puget Sound home buyers swarming new listings and multiple offer environments are in some cases influencing buyer waivers of all contingencies. Sellers of conservatively priced homes, who may also have difficulty finding another place to live, are fetching top dollar. The multiple offer market has become commonplace on well-priced new listings, observed John Deely, a member [...]

Three Year Real Estate Wave Projected

Posted: April 15th, 2015 by Brad

The real estate industry is expected to further strengthen this year and continue to get stronger through 2017, according to a new report released from the Urban Land Institute Center for Capital Markets and Real Estate, which is based on a survey of the industry’s top economists and analysts. Survey respondents said that the residential, [...]

Interest Rates to Rise in June

Posted: April 15th, 2015 by Brad

The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. The move would be the first rate increase since 2006. Two of the central bank’s officials said that disappointing job growth, manufacturing activity, and retail sales over the winter [...]

Seattle’s Construction Boom

Posted: March 11th, 2015 by Brad

In case the cranes were not convincing enough, the Downtown Seattle Association just published a report that underscores Seattle’s growth spurt. Downtown is adding approximately 25 new jobs each day and netting 24 new residents every week according Jon Scholes, DSA president and CEO. To accommodate that growth, 15 million square feet of office space [...]

Where Have All The Sellers Gone?

Posted: February 12th, 2015 by Brad

In many areas of Seattle proper, available home inventory is down nearly 50 percent from a year ago, further perpetuating a market favoring sellers. “The current inventory of homes available for sale has never been lower in my 22 years as a real estate broker,” lamented Northwest Multiple Listing Service (MLS) director George Moorhead. King [...]

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