Queen Anne Seattle Real Estate Update

If you are in the market to buy or sell Queen Anne Seattle real estate, knowing the current market conditions can help you navigate the transaction successfully. As a seller you can know what to expect as far as what is appropriate for pricing, days on market, etc. As a buyer you can get an idea of how much you will spend and what your negotiation power is with the price points. Using a Queen Anne Seattle realtor is necessary as they can get you this information as well as help you get through any bumps that my pop up throughout the listing or buying process. So how is this particular neighborhood doing? Let’s take a look!

The average sales price for Queen Anne Seattle real estate is up 7.6% at $782,259 while the median is up 28.7% at $625,000. Unlike it’s neighbors in Magnolia, the new listings and the homes for sale have seen a decrease. The new listings have gone down 9.3% while the homes for sale have gone down 41.7%. The pending sales and closed sales have gone up slightly between 2%-3%. The median days on market is 8 while the average is 22. The percentage of list price is 104.4%, which means the average home is not only getting full price but over. Which makes sense as the month supply is less than 1 at 0.8. A balanced Queen Anne Seattle real estate market needs a 6 month supply. If you are looking for a Queen Anne Seattle realtor to help you navigate this current competitive market, give me a call. I would be happy to help!


Posted on September 25, 2017 at 10:40 pm
Molly Shutes | Posted in Uncategorized |

Seattle, WA Real Estate Market Report

If you are thinking buying or selling real estate in Seattle, WA, knowing what the current market conditions are can have a profound impact on your experience. As a seller, knowing things like the average and median sold price will help guide you in picking an appropriate listing price while as a buyer, you know a general idea of what to expect as far as an offer price goes. Of course, working with a qualified Seattle, WA realtor that can guide you throughout the transaction also makes a huge difference. You will need someone who is well versed in the local market, as well as someone who acts as your advocate in case things get complicated. In a competitive market like the one we are experiencing today, this is huge! So how is real estate in Seattle, WA doing? Let’s take a look!

The median sold price is up 13.3% at $620,000 while the average sold price is up 10.6% at $707,364. The average price per square foot for real estate in Seattle, WA is up 10.5% at $432. The average percentage of list price for Seattle, WA real estate is 104.5%. This stat indicates your negotiation power and currently, on average, homes for sale in Seattle, WA are not only getting full price, they are getting over. This is likely due to the fact that we are dealing with a month supply of 1. A Seattle, WA realtor looks for a 6 month supply in order to consider the market “balanced”. To further prove that point, new listings are down 2% while homes for sale in Seattle, WA are down 14.4%. Pending sales are up, but only by 2.1% and closed sales are up by 2.3%. The median days on market is 8 while the average days on market for Seattle, WA real estate is 23. This means homes for sale in Seattle, WA are moving fast, making it more important than ever to work with a qualified Seattle, WA realtor. If you are looking to buy or sell, give me a call. I would be happy to help!


Posted on September 25, 2017 at 10:28 pm
Molly Shutes | Posted in Uncategorized |

Monthly Magnolia Seattle Real Estate Report

If you are looking to list or buy Magnolia Seattle Real Estate, being aware of the current market conditions is key to a successful experience. As a seller, you have a good idea of what is appropriate to price at, how many days a home is sitting on the market as well as what kind of market you are in. As a buyer, you get an idea of the average and median sold prices (aka a ball park number of what you can expect to spend) as well as the percentage of list price (this indicates your negotiation power). Of course, whether you are buying or selling Magnolia Seattle Real Estate, choosing a qualified Magnolia Seattle Realtor is key. They can not only help you navigate the current market, but also be your guide during the escrow process. So, how is this neighborhood doing this month? Let’s take a look.

The average sold price has gone up 16.7% and is currently at $931,426 and the median sold price is up 9.9% at $781,000. This is good news for sellers as it means the value on their home for sale in Magnolia, Seattle real estate is up. Also up are a majority of the other categories we follow: New listings, homes for sale, pending sales and closed sales. New listings are up 17.4% while homes for sale are up 11.4%. Pending sales are up 23.1% and closed sales are up 16.9%. Month supply has also gone up from last month and last year at 8.3%. Currently we are sitting at a 1.3 supply. Magnolia Seattle real estate is still very much in a seller’s market as we need a 6 month supply in order to be considered balanced. The average percentage of list price is 103.3%, which indicates a buyer’s negotiation power. This basically means that homes are going for not only the full amount of the asking price, but over. Whether you are looking to list or buy a home for sale in Magnolia Seattle, working with a Magnolia Seattle realtor who knows what is happening in the market is crucial. This information can help guide your decisions which have a huge impact on whether or not your experience is a success. As a long time Magnolia Seattle realtor, I would be happy to give you more information.


Posted on September 12, 2017 at 6:34 pm
Molly Shutes | Posted in Uncategorized |

Seattle Real Estate Report

The Seattle real estate market has been making headlines across the nation for the past year. Inventory is very low and the demand is incredibly high with the rapid economic growth and the influx of people moving to the region every single day. Because of this, the current Seattle real estate market is incredibly competitive right now. It is a fabulous time for seller’s to list their real estate in Seattle but it is a tough time for buyers trying to get into a home for sale in Seattle. Whether you are buying or selling, the use of a qualified Seattle realtor is incredibly important. As a seller they can help you pick the appropriate list price as well as get your home ready for the market. If you are a buyer, working with an experienced Seattle realtor will help you in a few ways. First, they will have good working relationships with other brokers, which can aid in making a strong offer. Second, they will know of properties that haven’t yet hit the market, but will. Which means, you have a good chance of taking a tour before anyone else knows about it. In addition to these two perks, they are able to guide you every step of the way using their expertise. So how is the current Emerald City market looking? Let’s take a look.

Both the average and median sold price is up, which sellers will be happy with. The median is up 13.7% at $614,000 while the average is up 10% at 698,870. New listings in Seattle and homes for sale in Seattle are both down. Luckily, the decrease is minimal. New listings in Seattle are down 0.8% and homes for sale in Seattle are down 13%. Pending sales are up 3.6% and closed sales are up 4.1%. The percentage of list price (which helps determine your negotiation power) is at 104.2%. This basically means, on average, real estate in Seattle is getting over asking. The median days on market is currently 8 days while the average days on market is 26. Basically, homes are moving quickly. Which isn’t shocking given that the month supply is at a 1 right now. In order for a market to be considered balanced, there needs to be a 6 month supply. With a market this tight, be sure you have chosen a long time Seattle realtor to help you navigate it. For more information on real estate in Seattle, give me a call!


Posted on August 25, 2017 at 8:11 pm
Molly Shutes | Posted in Uncategorized |

Ballard, Seattle Real Estate Report

If you are thinking of buying or selling Ballard, Seattle real estate, you have come to the right spot. Knowing what is happening in the local market ensures success regardless of what side of the transaction you are on. As a seller, you know you priced appropriately. This keeps your home from either sitting too long OR selling for a lower priced you aren’t satisfied with. Truth be told, bidding wars and quick sales are a common theme in the Ballard, Seattle real estate market for multiple reasons. It is a hot neighborhood with highly ranked schools that is conveniently located close to all of Seattle’s best amenities. With demand so high and inventory so low, homes for sale in Ballard, Seattle move quickly. If they are priced according to the recent comparable sales, they are more likely to sell quickly and receive multiple bids. As a buyer, knowing what is happening in the Ballard, Seattle real estate market allows you to be confident in your offer price. Of course, working with a qualified Ballard, Seattle realtor who can guide you in both selling and buying makes a huge difference. So how is this neighborhood looking currently? Let’s take a look!

The good news for homeowners thinking of selling real estate in Ballard, Seattle is that prices have gone up! The average has gone up 14% at $702,256 while the median has gone up 15.4% at $675,000. Interestingly, while these are considered higher price points in general, these are still lower compared to some of the other nearby sought after neighborhoods. New listings are down 2.5%, homes for sale have taken a hit at 14% but pending sales and closed sales are up between 1.1%-2.3%. Whether you are buying or selling in Seattle, you likely already know we are in a seller’s market. However, this neighborhood in particular is dealing with some VERY low inventory. The month supply is currently 0.6. In order to be considered balanced, a market should have a 6 month supply. Also, the median days on the market (which is the amount of time a home goes from active to pending) is 8, with the average being 16. Now, The average percentage of list price (which basically determines your negotiation power) is 105.3%. Which means on average homes are not only going for asking, they are getting well over in most scenarios. As a buyer, this sounds frustrating. Our only recommendation is choosing a qualified local Ballard, Seattle realtor. You want someone who has local ties and good working relationships with other brokers so they are aware of Ballard, Seattle real estate before it even comes on the market. This ensures you get to see it before everyone else does and hopefully get one of the first offers in. Not to mention, there are other fabulous perks that come with working with a Ballard, Seattle realtor that knows the local market and industry like the back of their hand.

If you are thinking of buying or selling real estate in Ballard, Seattle, give me a call. I would be happy to help you navigate this competitive market.


Posted on August 25, 2017 at 7:13 pm
Molly Shutes | Posted in Uncategorized |

Magnolia, Seattle Real Estate Report

If you are thinking of selling or buying Magnolia, Seattle real estate, knowing the current market conditions is incredibly important for a successful real estate experience. As a buyer, you can use these stats to help guide your purchasing and negotiation power. As a seller, you can be aware of what is a good price to list your Magnolia, Seattle home for sale. This is actually one of the most important things you will do when listing a property. After selecting a qualified Magnolia, Seattle realtor of course. When you oveprice, you risk your Magnolia, Seattle home for sale sitting on the market too long. This can cause people to think that there is something wrong with the home and results in prospective buyers skipping over it. If you price it too low in hopes of starting a bidding war (which is a very common thing in the current Seattle real estate market), you could end up leaving money on the table if you pick the wrong bid. Truthfully, when you list at a fair market value, you actually have a better chance of your home selling for more money in less time. Discussing pricing with your Magnolia, Seattle realtor ensures you have the most accurate information to come up with that perfect number. So how is the market looking in our neighborhood? Let’s take a look!

Both the average and median sold price for Magnolia, Seattle real estate is up! The average is up $913,661 (up 15.6% this time last year) and the median is up 10.9% at $767,475. New listings are also up 14.8% which is great news for buyers. Obviously there isn’t enough inventory to satisfy the current demand, but any extra bump is helpful. Pending sales are up 21.2% and closed sales are up 17.1%. The two things that are down are the days on market and the month supply. Both of which indicate that this neighborhood is in a seller’s market. The median days on the market is 8 days, which is a quick sale! The average is 22, which is still fast considering the national average is still around 40 days. The month supply is also incredibly low at 1.5. In order for the market to be considered balanced, there really should be a 6 month supply. Of course these statistics change every month, so it is important to stay in close contact with your Magnolia, Seattle realtor. They can help you navigate how to successfully buy or sell a Magnolia, Seattle home for sale.

For more information on Magnolia, Seattle real estate, give me a call! I would be happy to help.


Posted on August 25, 2017 at 6:48 pm
Molly Shutes | Posted in Uncategorized |

Queen Anne, Seattle Real Estate Market Report

If you are thinking of selling or buying Queen Anne, Seattle real estate, knowing the current market conditions is crucial for a successful real estate transaction. As a buyer, you can use these stats to help guide your purchasing and negotiation power. As a seller, you can be aware of what is an appropriate price to list your Queen Anne, Seattle home for sale. This is actually one of the most important things you will do when listing a property. After selecting a qualified Queen, Seattle realtor of course. When you price too high, you risk your Queen Anne, Seattle home for sale sitting on the market too long. This can cause people to think that there is something wrong with the home and results in prospective buyers passing over it completely. If you price it too low in hopes of starting a bidding war (which is a very common thing in the current Seattle real estate market), you could end up leaving money on the table if you pick the wrong bid. Truthfully, when you list at a fair market value, you actually have a better chance of your home selling quicker and for more money. Discussing pricing with your Queen Anne, Seattle realtor ensures you have the most accurate information to come up with that perfect number.   So how is the market looking in the Queen Anne neighborhood? Let’s take a look!

Both the average and median sold price for Queen Anne, Seattle real estate is up! The average is up $887,239 (up 15.9% this time last year) and the median is up 14.6% at $785,000. New listings are also up 3.6% which isn’t a big increase but still great news for buyers. Pending sales are up 17.7% and closed sales are up 17.8%. The two things that are down are the days on market and the month supply. Both of which indicate that this neighborhood is in a seller’s market. The median days on the market is 9 days, which is a quick sale! The average is 17, which is still fast considering the national average is still around 40 days. The month supply is also incredibly low at 1.10. In order for the market to be considered balanced, there should really be a 6 month supply. Of course these statistics change every month, so it is important to stay in close contact with your Queen Anne, Seattle realtor. They can help you navigate how to successfully buy or sell a Queen Anne, Seattle home for sale.

For more information on Queen Anne, Seattle real estate, give me a call! I would be happy to help.


Posted on August 25, 2017 at 6:33 pm
Molly Shutes | Posted in Uncategorized |

Queen Anne, Seattle Real Estate Update

When looking at Queen Anne, Seattle Real Estate, the latest statistics from the Northwest Multiple Listing Service confirm that this sought after neighborhood is definitely in a seller’s market.  The average sold price is up 15.6% at $881,209 while the median sold price is up 13.2% at $765,000. The percentage of list price for Queen Anne,  Seattle real estate saw a minimal 0.2% increase and is now at 102.8%. This means that, on average, homes are going for over list price. Knowing this information is great for negotiating when putting in an offer. You get a heads up on how much people are going over. Of course, your Seattle realtor will advise on what is an appropriate offer, being informed ahead of time is incredibly beneficial when navigating a market like the one we are currently in. Closed sales are up 16.7%, pending sales are up 15.2% and new listings are up 11.9%. More new listings is welcomed news for buyers as Seattle real estate has had record low inventory, making it hard for people to find Queen Anne, Seattle real estate. Additionally, this has caused rent to sky rocket forcing would be buyers to pay the same amount they would pay for a mortgage, for rent. This lack of inventory has understandably caused some frustration. While new listings are up, the month supply is still down at 1.2. In order for a market to be balanced, there needs to be a 6 month supply. This neighborhood, and much of King County, is still in a competitive sellers market. Whether you are looking to buy or sell, it is more important then ever to work with a qualified Seattle realtor. Having been in the local industry since 1989, I take great pride in guiding my clients so that they can make an informed decision on one of the biggest financial decisions they will make. If you are looking for an experience Seattle realtor, I would be happy to help you navigate this market.

 


Posted on July 27, 2017 at 7:37 pm
Molly Shutes | Posted in Uncategorized |

Magnolia, Seattle Real Estate Update

Whether you are looking to buy or sell Magnolia, Seattle real estate, knowing the current market conditions is the difference in having a successful real estate transaction. As a seller, you want to rest assured that you listed at market value. An over priced home for sale in Magnolia, Seattle can sit and “grow stale”. Generally, if a home is active for too long, potential buyers will overlook it as they assume there is something wrong with it. After all, if there wasn’t, it would have sold already. Not exactly accurate, but this is why Seattle realtors stress the importance of listing at market value. Additionally, you don’t have to worry about leaving money on the table. As a buyer, you want to feel confident in your purchase and that you didn’t overpay. Truthfully, Magnolia, Seattle real estate is all about making sure both parties got what they wanted for the price they wanted. So how is our local neighborhood doing? Let’s take a look.

The good news for sellers is that the sold price for homes for sale in Magnolia, Seattle have gone up. The median sold price is $751,000 while the average sold price is $893,353. The average percentage of list price is up 0.2% at 103.1, which means that in most scenarios, Magnolia, Seattle real estate is going for over asking. Pending sales are up 20% and closed sales are up 7%. The good news for buyers is that new listings are up 17.5%. This is a little bit of relief to buyers looking to purchase a home for sale in Magnolia, Seattle. Although, unfortunately, while the month supply is up 27% from this time last year, it is still very low with a 1.4 month supply. If you are not sure what month supply is, this determines what kind of market we are in. A balanced market needs a 6 month supply, which we are not even close to. Sellers would stand to gain from listing right now as there is absolutely buyer demand. In order for buyers to have success in this competitive market, it is crucial for them to work with a local Seattle realtor. As a long time Seattle realtor since 1989, I can help you navigate this market whether you are buying or selling.

 


Posted on July 26, 2017 at 9:09 pm
Molly Shutes | Posted in Uncategorized |

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