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Seattle Metro •
April 17, 2018
Seattle Median Home Price Hits $800,000 in 1st Quarter of 2018!
Seattle Metro Quarterly Market Trends
It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 69% increase in new listings in March compared to February. That increase was followed by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 105%, indicating that multiple offers were the norm. We ended the quarter with 0.6 months of inventory based on pending sales. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 16% year-over-year.
Seattle Metro real estate has a very high premium due to close-in commute times and vibrant neighborhoods. In fact, the median price in March was $800,000, up 5% from the month prior! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.
This is only a snapshot of the trends in the Seattle Metro area; please contact me if you would like further explanation of how the latest trends relate to you.
South Snohomish County •
April 17, 2018
South Snohomish County Home Prices Continue to Go Up!
South Snohomish County Quarterly Market Trends
It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.5 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 15% year-over-year.
South Snohomish County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 47% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.
This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.
North Snohomish County •
April 17, 2018
North Snohomish County Housing Market Trends
North Snohomish County Quarterly Market Trends
It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 54% increase in new listings in March compared to February. That increase was matched by a 50% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio was 100%, and average days on market was 35 days. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 12% year-over-year.
North Snohomish County is one of the most affordable markets in the area. In fact, the median price in March was 28% higher in south Snohomish County. Buyers are migrating to the area, especially if they don’t have to commute into the city. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.
This is only a snapshot of the trends in north Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.
North King County • Price Appreciation •
April 11, 2018
Astounding Home Price Appreciation Numbers
Seattle Area Home Price Appreciation Continues
Shoreline:
Do you know what your home is worth? This is an example of an actual home that was sold in 2014 and again in 2018, with no remodel or significant improvements in between – for a resounding 42.85% increase in value! This is actual, pound-for-pound appreciation in north King County. Since 2014, home values in the greater Seattle area have grown over 10% each year. Contact me if you want to chat about your home’s value!
Price Appreciation • South Snohomish County •
April 10, 2018
How Much Has Your Home Appreciated since 2014?
Price Appreciation since 2014
Lynnwood:
Do you know what your home is worth? This is an example of an actual home that was sold in 2014 and again in 2017, with no remodel or significant improvements in between – for a resounding 42.85% increase in value! This is actual, pound-for-pound appreciation in south Snohomish County. Since 2014, home values in the greater Seattle area have grown over 10% each year. Contact me if you want to chat about your home’s value!
Cost vs Value •
March 29, 2018
Cost vs Value: Deck
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I am commonly asked which improvements sellers should make to get the greatest return on their home sale. Every year The Remodeling 2018 Cost vs. Value Report (www.costvsvalue.com) compiles all the information and analyzes the estimated percentage return on home improvements in each region. Getting a home prepared for market requires a keen eye and great resources. To access the entire Cost vs. Value report please visit www.costvsvalue.com and follow the steps to locate the Seattle area report.Also, I have a great list of reputable contractors from HVAC to plumbing to roofing who are licensed and bonded in the State of Washington. Please call on me whenever you need a solid recommendation. I am happy to help whether you are getting your home ready for market or just want to find a good window washer now that the sun is starting to shine a little more.
Complete data from the Remodeling 2018 Cost vs. Value Report can be downloaded free at www.costvsvalue.com
© Hanley Wood Media Inc.
Cost vs Value •
March 23, 2018
Cost vs Value: Kitchen
I am commonly asked which improvements sellers should make to get the greatest return on their home sale. Every year The Remodeling 2018 Cost vs. Value Report (www.costvsvalue.com) compiles all the information and analyzes the estimated percentage return on home improvements in each region. Getting a home prepared for market requires a keen eye and great resources. To access the entire Cost vs. Value report please visit www.costvsvalue.com and follow the steps to locate the Seattle area report.
Also, I have a great list of reputable contractors from HVAC to plumbing to roofing who are licensed and bonded in the State of Washington. Please call on me whenever you need a solid recommendation. I am happy to help whether you are getting your home ready for market or just want to find a good window washer now that the sun is starting to shine a little more.
Complete data from the Remodeling 2018 Cost vs. Value Report can be downloaded free at www.costvsvalue.com
© Hanley Wood Media Inc.
