Gloomy weather and the start of the holidays did not deter thousands of buyers and sellers last month, based on the latest report from Northwest Multiple Listing Service (NMLS). And while competition amongst buyers has cooled slightly, sellers still have the upper hand.
Read MoreIn an unusual year, the real estate market has largely been a beacon of positivity. And while activity seemed to come to a complete halt for a brief moment in the second quarter, the buyers quickly got off the bench—to take advantage of low-interest rates, to invest in homes with bigger spaces or larger yards as working from home or home school became priorities. And even as the temperatures began to drop this September, the market remained hot in Q3 with appreciating home prices, low inventory, and buyers eager to find the right opportunity.
Read MoreBuyers continue to rush to the new-construction market. Nationally, sales of newly-built, single-family homes in July surged to the highest pace since 2006, jumping 36% higher than a year ago according to the U.S. Department of Housing and Urban Development and U.S. Census Bureau.
Read MoreEach quarter, Realogics Sotheby’s International Realty analyzes market data to examine trends and to ensure our clients better understand the real estate market. The second quarter of 2020 was framed by a very different real estate landscape as Washington’s stay-at-home order was in effect for the majority of this period. The data across these market areas reflects fewer homes on the market year-over-year likely because of this, and while median prices and buyer demand varied more, it was a seller’s market.
Read MoreJust when the market was expected to enter busy spring season, the coronavirus pandemic shocked the world. The impacts of this pandemic have caused uncertainty across all sectors of the economy and the housing market is no exception. Many home buyers who were ready to make their move are now sitting on the sidelines wondering if now is the right time. While each market has responded differently, we have seen numerous reasons in our local market in the greater Seattle area that now is the right time to buy.
If you’ve been considering purchasing a home, read on to learn about some of the reasons that it would be better to make your move now instead of wait, and learn what recent events and trends could mean for your home search.
Read MoreTake a look at real estate trends around King County as we explore insights from the first quarter of 2020.
Read MoreRealogics Sotheby’s International Realty proudly presents its annual summary of the Real Estate Market in Western Washington. Each year, this report reflects on how the news events of the past year could economically impact the home buying and selling process. It also offers key insights from nine counties and 37 communities around the Puget Sound, providing an in-depth analysis of data, information, factors in trends, news, and events that make an impact on our local housing market.
Read MoreMany were curious to see how the typically robust spring real estate market would be impacted by the Coronavirus pandemic. Like many sectors of the economy, residential real estate experienced disruption and uncertainty just when things were ramping up.
As guidelines for essential workers evolved, the market virtually paused for a few days, but then took off again after real estate guidelines and practices were adjusted to support social distancing. Despite the changes, housing activity around Western Washington in March showed the volume of new listings added during the month surpassed February’s total, as did both pending and closed sales.
Read MoreCoronavirus aid, relief, and economic security act—what can we expect? The $2 trillion economic relief plan brings a variety of aid to U.S. citizens in an attempt to spur growth for local communities.
Read MoreThe first renderings for the new Seattle Center Arena—slated to open by the summer of 2021—have just been released. The nearly $1 billion—yes billion—will create a world-class venue for hockey, basketball, and music. With private lounges and bars to striking views of our city, there’s something for everyone to enjoy at this state-of-the-art arena. You have to admit, the renderings look pretty sweet.
Read MoreIn Seattle’s hot real estate market, it’s become increasingly difficult to find good investment opportunities. But every once in awhile, a fantastic, turn-key property is brought on the market. Check this out.
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