Most people think of real estate as simply the process of listing, viewing, buying and selling properties, but new technologies have allowed real estate marketing to be innovative in fresh and inspiring ways. Here are just a few ways in which technological advancements have changed the real estate industry in the past year.
Read MoreRealogics Sotheby’s International Realty’s acclaimed Research Editor and Data Analyst, William Hillis, has assembled a year-over-year review of eight key counties and 31 regional markets around the Puget Sound.
Read MoreIn early December, the Northwest Multiple Listing Service (NWMLS) press release indicated that home buyers in our region are feeling less pressure and more options amidst lending limit increases and softening home price growth.
Read MoreAfter 20 months of leading the nation in home price growth, Seattle Times reports that the Evergreen state now trails behind Nevada in year-over-year price gains, though—to the chagrin of buyers everywhere—it’s not “because homes here have suddenly become cheap.” As of June 2018, prices across the state as a whole grew 12.1% compared to this same time last year, down slightly from the 12.8 percent increases reported in May. Many of the region’s markets saw a deceleration of at least 1 percent from May to June, including Seattle, Bellingham, Mount Vernon/Anacortes and Bremerton/Silverdale, among others.
Read MoreThough the Seattle-area real estate market has decidedly been in favor of sellers for the past couple of years, buyers felt a bit of relief in July, as inventory increased for the third consecutive month. As Puget Sound Business Journal reports, the median sales price for July 2018 was up just 5-percent on a year-over-year basis, a stark decline from the 18-percent surge from the spring sales season. The root cause comes down to inventory, as there were just over 5,000 homes and condominiums available for sale last month, marking “a remarkable 48 percent more than July 2017.” After three months of inventory gains, supply is now higher than it’s been since early 2015.
Read MoreA recent feature published by New York Times outlined the challenges many first-time buyers are facing in real estate markets around the nation, as starter home supply dwindles and prices increase. In areas beyond the Puget Sound, homes are selling quickly, especially when they are smaller and lower-priced, and “seasonal demand is increasing as usual, but buyers are finding that there is a lack of new listings.”
Read MoreIn our current real estate cycle, in which we have a completely tilted supply and demand curve (where 80,000 people are moving into King County annually with only 8,000 new units being built) the bidding wars have gotten a little out of hand. Given Seattle’s hot real estate market, I have met with sellers who have posed the following question: Why go with a full-service broker when there will be multiple offers anyway? Does marketing matter?
Read MoreRealogics Sotheby’s International Realty’s acclaimed Research Editor and Data Analyst, William Hillis, has assembled a year-over-year review of eight key counties and 29 regional markets around the Puget Sound. In addition to in-depth market analysis, the report includes the “Condominium Conundrum,” Seattle’s stellar performance on the S&P CoreLogic Case-Shiller Home Price Index, the effects of Chinese capital controls and Canada’s restrictions on foreign buyers, landmark sales on the Eastside, and more. I have compiled a selection of key highlights including trends to watch, to spark a conversation so we may outline the implication for homes in your city.
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