Archive for the ‘Market Economics’ 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 [...]

Analysts Fear Housing Falter

Posted: August 19th, 2015 by Brad

Inventory shortages could disrupt momentum on the U.S. housing market and expectations for continued economic expansion, according to some analysts. A recent report by AP economics writer identifies inventory shortages as the main problem. “Robust demand has failed to draw many sellers into the market,” Boak wrote, adding few in the industry foresee a surge [...]

Posted In: Blog, Market Economics

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 [...]

Tech Boosts Seattle Luxury Market

Posted: July 21st, 2015 by Brad

The technology boom is pushing its way north up the Pacific Coast, boosting real-estate prices, sparking neighborhood squabbles and creating new demand for luxury homes asking $1.5 million or more. Real-estate agents say Seattle, the longtime home of software giant Microsoft and online-retailing behemoth Amazon, is attracting more technology firms because it offers a combination [...]

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 [...]

Luxury Market Brief

Posted: June 10th, 2015 by Brad

Luxury home buyers are also active participants in the current market. A check of MLS statistics shows 887 single family homes priced at $1 million or more have sold during the first five months of the year. That compares to 696 for the same timeframe a year ago for a jump of more than 27 [...]

Seattle: Silicon Valley North?

Posted: June 10th, 2015 by Brad

Skyrocketing home prices in the Bay Area are prompting tech workers to consider relocating – and the Seattle area is high on the destinations list. GeekWire, a technology news site, reported on a recent analysis of home search behavior. A Seattle-based real estate brokerage conducted the study.  John Cook, GeekWire’s editor, called the findings “startling” [...]

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 [...]

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