Uncategorized January 28, 2018

Ballard, Seattle Real Estate Update

Seattle real estate is one of the hottest markets in the country right now. Due to the Amazon boom, there are certain long time established neighborhoods that have become highly sought after thanks to close proximity to good schools, great restaurants and popular city attractions. One of those neighborhoods is Ballard, Seattle. If you are buying homes for sale in Ballard, Seattle, you should know you have to move fast. Same goes for sellers. This popular area is considered very desirable for buyers and Ballard, Seattle homes for sale are moving quickly. Regardless of what side of the transaction you are on, knowing the numbers for this area is crucial as they can guide both parties towards a successful experience. The best way to get this information is from a Ballard, Seattle realtor. Working with someone who knows this local market is incredibly important. So how is this area looking? Let’s check out the numbers!

The good news for sellers is that the average and median sold prices for homes for sale in Ballard, Seattle are both up compared to this time last year. The median sold price for Ballard, Seattle homes for sale is up 25.6% at $738,800 and the average is up 24.1% at $737,147. The price per square foot has also gone up 9.1% at $517. The percentage of list price is up 2.3% at 105.9%. This last number indicates your negotiation power and also shows that homes for sale in Ballard, Seattle are going, on average, over asking price. Interestingly, while these prices are up and beyond the national average, this is actually less compared to nearby areas like Queen Anne & Magnolia. Once again, I stress the importance of using a qualified Ballard, Seattle realtor if you are looking to buy in this area OR looking to sell.

Inventory wise, the numbers have gone down. The amount of Ballard, Seattle homes for sale has decreased by 26.9%. The amount of new listings are down 6.3% while pendings are down 5.5%. This is all due to the incredibly low month supply. Ballard, Seattle real estate has a .40 month supply. A balanced market requires 6 months and anything less than 4 is considered a market that is in favor of the seller. If you are looking in this neighborhood, give me a call. As an experienced Ballard, Seattle realtor, I would be more than happy to act as your advocate as you buy or sell in this area.

Uncategorized January 28, 2018

Queen Anne, Seattle Real Estate Update

If you are thinking of listing or buying Queen Anne, Seattle homes for sale, being aware of what is happening in this market is necessary for your success. Queen Anne, Seattle realtors use details like days on market, average sold price, month supply and more to educate our clients on what makes an attractive offer as well as an attractive list price. As a seller, knowing these details before you list your Queen Anne, Seattle real estate can prepare you for the process. You can not only list at an appropriate market price but you also have an idea of how quickly homes for sale in Queen Anne, Seattle are moving. As a buyer, you can use this same info to come up with a competitive offer. The best way to get these details are from a Queen Anne, Seattle realtor.  So how is this particular neighborhood doing? Let’s take a look!

The average sales price for Queen Anne Seattle real estate is up 12.8% compared to last year at $923,694. This is up compared to just last month as well. This is the same as far as the median sold price goes. That number is up 10.9% compared to last year at $820,000. Interestingly, the average is only up a few thousand compared to last month while the median is up $15,000. The average price per square foot is up 16.6% at $533. The percentage of list price is up 2.4% from this time last year at 104.4%. This means on average homes for sale in Queen Anne, Seattle are not only getting full price, but over.

We have good news for buyers too! Queen Anne, Seattle real estate has some new listings. The bump from this time last year is minimal at 5.6%, however, any increase is good. Unfortunately, Queen Anne, Seattle homes for sale are down 11.4%. Pending Queen Anne, Seattle homes for sale are up 13.8% and closed sales are up 12.1%. Median days on market are 8 and the average is 19. So if you are selling, prepare your listing by de-cluttering, selling and packing up as many items as possible ahead of time. As a buyer, don’t “sleep on it”. Know your criteria before you go. If a home is a match for your needs, write up the offer. Your Queen, Anne Seattle realtor can help you with both the aspects of selling and buying so both parties are prepared to move fast.

These numbers are a result of this neighborhood being in a seller’s market. A Queen Anne, Seattle real estate market needs a 6 month supply in order to be considered balanced. Anything less than 4 is considered in favor of the seller. Currently, this market is at a 1, which is actually down a bit from last month. My only advice for navigating this market is using an experienced Queen Anne, Seattle realtor. If you have any questions on this neighborhood, both buying and selling, let me know. I would be hapy to help!

Uncategorized January 28, 2018

Magnolia Seattle Real Estate Update

When listing or buying homes for sale in Magnolia, Seattle, it is important to know what the neighborhood market conditions are. No matter what side of the transaction you are on, things like days on market, average and median sold price and percentage of list price can help you have a successful Magnolia, Seattle real estate experience. As a seller, you can use the local comparable sales as a way to come up with an appropriate list. When you list according to the local Magnolia, Seattle real estate values, you can rest assured your home will sell quickly. As a buyer, you can use this info to create a competitive offer. Which is so important in our local market as homes for sale in Magnolia, Seattle are pending in record time. The best place to get this information is from a Magnolia, Seattle realtor. An experienced, local professional is the best resource to find out what is happening when it comes to Magnolia, Seattle homes for sale. Let’s take a look at how our neighborhood is doing!

Now that we have covered the financial aspect of this report, let’s look at the inventory. If you are a buyer and you were starting to feel frustrated, I have some good news for you as well. New listings are up 17.2%. Although down slightly from last month, any increase in this department is welcomed news. Magnolia, Seattle homes for sale are up 10.9% while pending sales are up 19.2% and closed sales are up 20.1%. While we love all this increase in activity, the month supply is still incredibly low at 1.3. We have been sitting at this number for the past few months. Us Magnolia, Seattle realtors look for a 6 month supply in order to consider the market balanced. Anything less than 4 is considered a seller’s market, which we are clearly in. The best piece of advice I can give anyone looking to buy or sell in this neighborhood is to work with a qualified Magnolia, Seattle realtor who knows the neighborhood. Not only do we act as a guide, but we help you navigate the entire process from start to finish and beyond. Not to mention, someone who has been working in this neighborhood for a while will be the first to know of properties that are coming on the market soon. This inside knowledge could get your offer to the top of the pile as a buyer. If you are interested in more information, feel free to give me a call. I would be happy to help!

Uncategorized December 26, 2017

Magnolia Seattle Real Estate Update

The average sold price has gone up 12.4% and is currently at $942,847, which is up from this time last year. However this is actually down a bit from last month. Interestingly, the median sold price is up 7.5% from last year at $806,500. This is actually up from last month. The average price per square foot is up 13.9% from last year at $450. The average percentage of list price is the same as last month at 103.4%, 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 on average. This is due to high demand and low inventory. While sellers may rejoice with this news, buyers definitely have their work cut out for them. The littlest increase in price can impact your buying power. The good news for buyers is that new listings are up 21.1% in this neighborhood compared to this time last year. The overall Magnolia Seattle homes for sale are up 13.3%, pending sales are up 19.8% and closed sales are up 17.9%. Unfortunately, the month supply is still sitting at 1.3, which it has been at for the past few months. 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. 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.

Uncategorized December 26, 2017

Queen Anne Seattle Real Estate Update

If you are currently thinking of buying or listing Queen Anne Seattle homes for sale, knowing the current market conditions can help you navigate the experience successfully. As a seller you get an idea of what is appropriate for pricing, how many days homes for sale in Queen Anne Seattle are sitting active before accepting an offer. You also get an idea of your negotiation power with percentage of list price and much more. As a buyer you can also benefit from this information and use it as a guide when putting together a competitive offer you feel confident about. The better the offer, the higher chance it has of being accepted. In this ultra tight market, utilizing any leverage you can is necessary for your success regardless of what side of the transaction you are on. Using a Queen Anne Seattle realtor is also crucial as we can get you this information as well as help you navigate the entire 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 12.7% compared to last year at $919,027. This is up $30,000 compared to just last month. This is the same as far as the median sold price goes. That number is up 11.3% at $805,000. Interestingly, this number is actually the same as last month. The price per square foot is up 16.1% at $526. The percentage of list price is up 2.3% from this time last year at 104.4%. This means the average home is not only getting full price, but over on average.  This is great news for sellers as it indicates that your home likely has gone up in value, making it a great time to sell.

The good news for buyers is that new listings have seen an increase of 11.4%. If you are buying Queen Anne Seattle homes for sale, you will know that any new inventory is appreciated at this point! However, Queen Anne Seattle homes for sale have gone down 11.4%. Pending sales have gone up 14.8%. While this is the number compared to this time last year, this is about the same as last month. Closed sales have gone up 13.8%.  The median days on market is still 8 while the average remains at 19. This is all expected being in the seller’s market that we are. Homes are selling fast with multiple bids which ultimately drives the prices up. The type of market we are in is determined by month supply.  A balanced Queen Anne Seattle real estate market needs a 6 month supply. Currently, we are at a 1.10. 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!

Uncategorized December 24, 2017

Ballard, Seattle Real Estate Update

If you looking to buy (or sell!) Ballard, Seattle homes for sale, knowing what is happening in the local market ensures success regardless of whether you are a buyer or a seller. As a buyer, knowing what is happening in the Ballard, Seattle real estate market allows you to put together a competitive offer you feel confident about. As a seller, you can feel good about your listing price. This keeps Ballard, Seattle homes for sale from sitting too long. Even though bidding wars and quick sales are common in this hot neighborhood, the truth is that if a property is overpriced, it will sit. 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 listing homes for sale in Ballard, Seattle is that prices have gone up! Both the average and median sold price is up compared to this time last year AND just last month. The average has gone up 17.8% at $746,818 (up from last month by over $10,000) while the median has gone up 17.4% at $710,000 (also up $10,000 from last month). Interestingly, while these are considered higher price points in general, these are still lower compared to some of the other sought after neighborhoods just minutes away. The price per square foot has also gone up 14.4% at $453. The bad news for buyers is that new listings are down 2.6%, along with homes for sale in Ballard, Seattle being down 22.7%. Pending sales have seen a minimal 1.6% increase. Closed sales are down at 2%. Even if you have done minimal research on Seattle real estate, you know this city is in a seller’s market. This neighborhood is no exception with a 0.5 month supply. This is down from last month as well as last year by 28.6%. In order to be considered balanced, a market needs a 6 month supply.  Also, the median days on the market is 7, with the average being 14. Now, The average percentage of list price, which determines your negotiation power, is 106.2%, up from last year and slightly from last month. Which means on average, homes for sale in Ballard, Seattle 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.

Uncategorized December 24, 2017

Seattle Real Estate Update

Seattle real estate was officially named the hottest market of 2017 and is expected to be the number #1 market for 2018. What does that mean for buyers and sellers? For buyers, it means that the market will still be competitive with inventory still at record lows. As a result, you can expect to deal with rising prices, multiple offers and crafting a competitive bid with your Seattle Realtor. If you are buying Seattle homes for sale, you have your work cut out for you. As a seller, you can likely expect a quick sale with over asking. Of course, this is as long as you price according to the market conditions. We are still seeing some over priced Seattle homes for sale sitting on the market. As homes for sale in Seattle are already higher than the national average, buyers don’t want to spend more than they have to. Regardless of what side of the transaction you are on, there are two things you can do for a successful Seattle real estate experience. The first is to pick a qualified Seattle Realtor. We have the experience to help you navigate the process as well as any tricky scenarios that may arise. The second is to arm yourself with knowledge on the market that comes straight from the MLS. Not a Zillow Zestimate, but the actual statistics from our own Multiple Listing Service. So how is the Seattle real estate market doing this month? Let’s take a look!

According to the Northwest MLS, the average and median sold prices for homes for sale in Seattle have gone up. Not just from this time last year, but also by last month. This is good news for sellers as it means they will likely make a good profit at resale. While homes for sale in Seattle vary based on a variety of factors, the average sold price is up 11.9% at $731,910 while the median is up 16.1% at $649,950. The average price per square foot is up 10.7% at $446. I wish there was good news for buyers as far as increased inventory levels, but that number is down 2.6% while the amount of homes for sale in Seattle is down 16.7% compared to this time last year. Pending sales have seen a very slight increase at 0.1% and closed Seattle homes for sale are down 3.3%. The median days on market is still 8 while the average is 19. These numbers are down a substantial amount compared to this time last year, however this is the same as last month. While we are discussing things that have stayed the same, the month supply is still down 16.7% at 1. As I have discussed in other blogs, a balanced market needs a 6 month supply. So  aligning yourself with a qualified Seattle realtor is necessary for success in this market. If you have more questions, feel free to reach out. I would be happy to help!

Uncategorized November 25, 2017

Ballard, Seattle Monthly Real Estate Update

If you are thinking of listing or buying Ballard, Seattle homes for sale, knowing what is happening in the local market ensures success regardless of what side of the transaction you are on. As a buyer, knowing what is happening in the Ballard, Seattle real estate market allows you to be confident in the offer you make. As a seller, you know you priced appropriately. This keeps Ballard, Seattle homes for sale from either sitting too long OR selling for a price 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 that is family friendly with good schools but also has a popular nightlife scene that is located close to some of Seattle’s best amenities. With inventory in this neighborhood so low, homes for sale in Ballard, Seattle already move quickly. If they are priced according to the recent comparable sales, they are more likely to sell quickly AND receive multiple bids.  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 listing homes for sale in Ballard, Seattle is that prices have gone up! Both the average and median sold price is up compared to this time last year AND just last month. The average has gone up 16.1% at $735,558 (up from last month by about $12,000) while the median has gone up 16.0% at $700,000 (up about $5,000 from last month). Interestingly, while these are considered higher price points in general, these are still lower compared to some of the other sought after neighborhoods just minutes away. The price per square foot has also gone up 12.9% at $446. The bad news for buyers is that new listings are down 3.2%, along with homes for sale in Ballard, Seattle down 21.3%. Pending sales have seen a minimal 1% increase. Closed sales are barely down at 0.4%. Even if you have done minimal research on Seattle real estate, you likely know this city is in a seller’s market. This neighborhood is no exception with a 0.6 month supply. In order to be considered balanced, a market should have a 6 month supply. The only slight positive to this is that while it has gone down compared to last year, it hasn’t changed from last month.  Also, the median days on the market (which is the amount of time a home goes from active to pending) is 7, with the average being 15. Now, The average percentage of list price (which basically determines your negotiation power) is 106%, up from last year and slightly from last month. Which means on average, homes for sale in Ballard, Seattle 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.

Uncategorized November 25, 2017

Seattle Real Estate Update

With recent reports naming Seattle real estate the number #1 market for 2018, there are currently a lot of eyes on what is happening locally. With so much economic growth and a high number of new residents looking for housing daily, knowing our current conditions is absolutely crucial. As a seller, you must price accordingly, regardless of who has control of the market. As a buyer, you need to make a competitive offer. In a market as tight as ours, making your offer stand out against the others is more important than ever. When you know what the current sold prices are along with month supply, days on market, etc. you can successfully do both of these things. First and foremost, you should select a qualified Seattle Realtor. As a Seattle realtor who has worked with the top Seattle brokerage since 1989, I have the ability to act as my clients advocate while advising on the market using knowledge based on both the past and present market conditions. So how is our Seattle real estate market doing? Let’s look at the stats.

According to the Northwest MLS, the average and median sold prices have gone up. This is great news for sellers as it means that they can sell their home and likely make a good profit. While every home varies, the average sold price is up 10.7% at $721,555 while the median is up 14.2% at $636,000. The average price per square foot is up 9.7% at $440. I wish I could report good news for buyers as far as the amount of new listings available, but the number is down 3.6% while the amount of homes for sale in Seattle is down 16.9% compared to this time last year. Pending sales have seen a very slight decrease at 0.1% and closed homes for sale in Seattle are down 0.8%. The median days on market is down to just 8 while the average is 19.  While we are on the topic of decreases, the month supply is down 16.7% at 1. As I have discussed in other blogs, a balanced market needs a 6 month supply. So currently, aligning yourself with a qualified Seattle realtor is necessary for success in this market. If you have more questions, feel free to reach out. I would be happy to help!

Uncategorized November 19, 2017

Queen Anne Seattle Real Estate Update

If you are currently thinking of buying or listing Queen Anne Seattle homes for sale, knowing the current market conditions can help you navigate the experience successfully. As a seller you get an idea of what is appropriate for pricing, how many days (on average) homes are sitting active before accepting an offer, your negotiation power with percentage of list price and much more. As a buyer you can also benefit from this information and use it as a guide when putting together an offer. The better the offer, the higher chance it has of being accepted. In this ultra competitive market, utilizing any leverage you can is necessary for your success. Using a Queen Anne Seattle realtor is also crucial as we can get you this information as well as help you navigate the entire 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 11.7% compared to last year at $898,349. However, this is down compared to last month. This is the same as far as the median sold price goes. That number is up 12.6% at $805,000. The percentage of list price is up 2% from this time last year at 104.3%. This means the average home is not only getting full price, but over.  The average percentage of list price is up 14.9% at $517. This is great news for sellers as it indicates that your home likely has gone up in value, making it a great time to sell.

The good news for buyers is that new listings have seen an increase of 13%. If you are buying Queen Anne Seattle homes for sale, you will know that any new inventory is appreciated at this point! Homes for sale have gone down 13.6%. However, pending sales have gone up 14.9% and closed sales have gone up 17.7%.  The median days on market is still 8 while the average remains at 19. This is all expected being in the seller’s market that we are. Homes are selling fast with multiple bids which ultimately drives the prices up. The type of market we are in is determined by month supply.  A balanced Queen Anne Seattle real estate market needs a 6 month supply. Currently, we are at a 1. 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!