The first quarter of 2022 was a tale of two real estate journeys. For sellers, their opportunities were bolstered by low inventory, escalating competition and often driving offers over list prices. For buyers, the market was plagued by low inventory, with few opportunities and massive competition making it difficult to secure a home across Western Washington—just as interest rates started to tick back up. If we follow the trendlines from the first quarter of the year, then it’s still a great time to list a home for sale. With inventory low, and buyer demand remaining steady, year-over-year median price gains are likely to continue.
Home buyers and sellers have been on a wild ride over the past year thanks to incredibly low inventory, increased demand coupled with historically low interest rates, and intense bidding wars. According to Holden Lewis, home and mortgage expert at NerdWallet, “mortgage rates snapped upward in January as mortgage investors realized what the Fed intends to do, which is raise interest rates aggressively this year.”
The real estate market remained as busy as ever in Q4 2021, fueled by eager buyers ready to find their dream home in a competitive market where inventory and interest rates remain incredibly low. Sellers also enjoyed unwavering interest and often sold their properties for well above asking price. Sotheby’s International Realty examines five local markets on a quarterly basis to deliver the data and insights buyers and sellers care about so they can make an informed decision and navigate the market with confidence.
When residential home sales picked up speed in the wake of the initial quarantine of the pandemic, many experts weighed in on this outlying trend. A year later, as Realogics Sotheby’s International Realty examines the data from the Eastside to Bainbridge Island and markets in between, it’s easy to see that a lack of inventory and an onslaught of buyers wasn’t a one-off.
Because demand has been at a record-high, and inventory continues to remain low even as we enter 2021, some buyers are electing to purchase a home sight unseen in order to secure the type of property they truly want.
Refinancing can lower your monthly payment and save you a large sum of interest money over the life-span of your loan. However, it is not always a no brainer. Such calculations rely on assumptions such as how long you plan to stay in your home. Before you commit to a decision on whether or not you should refinance, here are a few things to consider.
There's no doubt that the Seattle area housing market is competitive. Many people assume that rising property prices across the Puget Sound region have made it harder for young people to afford to buy a home, but they are wrong. Millennials are quickly becoming the predominant demographic of home buyers in the region.
Realogics Sotheby’s International Realty presents a look at the housing market trends for the third quarter of 2019, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
Statistics from the second quarter of 2019 are in and Realogics Sotheby’s International Realty has analyzed the data with a look at the latest residential housing market trends in and around the Seattle area.
Statistics from the first quarter of 2019 are in and Realogics Sotheby’s International Realty has analyzed the data with a look at the latest residential housing market trends in and around the Seattle area.
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.
Realogics 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.
The i-buying movement has been on the rise recently, especially within the last year. But with the housing forecast in 2019 indicating the market will continue to cool down, a new challenge is posed for electronic real estate companies such as Zillow and Redfin—and the challenges may be even greater in Seattle.
In 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.
Realtor.com® just released their 2019 housing forecast, outlining what buyers, sellers and homeowners can expect as we say goodbye to 2018 and welcome the new year.
It might be hard to believe, but we are edging ever-closer to the new year and 2019 will be here before we know it. The start of a new year signals change and as we prepare what this one will bring, Seattle Timesdove into the top four technological trends that are making—or are set to make—an impact on the real estate industry. From modular housing opportunities and automated parking systems to a whole new level of amenities, explore those five trends and the resounding impact they may have on the Emerald City’s future.
Statistics from the third quarter of 2018 are in and Realogics Sotheby’s International Realty has analyzed the data with a look at the latest market trends in Seattle, the Eastside and Bainbridge Island. While previous reports this year continued along the same narrative—of anemic inventory and meteoric home price growth—this quarter brings a different story, as home price appreciation leveled off and buyers found more options on the market.
At just over 12 percent year-over-year, residential prices in Seattle in July 2018 sustained their rate of increase from June, according to the S&P CoreLogic Case-Shiller Index. The Index showed Las Vegas, Nevada widening its lead nationwide with a twelve-month increase of 13.68 percent. Seattle remained second in the nation at 12.05 percent growth. Competing Pacific Coast gateway cities Los Angeles and San Diego were neck-and-neck, with home price increases of 6.37 percent and 6.18 percent, respectively, while prices in San Francisco rose by 10.8 percent.
