Seattle Real Estate Update

If you are thinking of buying or selling Seattle, WA homes for sale, knowing what is happening in the current market can have a big impact on your success as both a seller and a buyer. As a seller, knowing what the average and median sold price is will help guide you in picking an appropriate price to list at. As a buyer, you get an idea of what you could spend on Seattle, WA homes for sale. Additionally, you can find out days on market, percentage of list price, month supply and price per square foot. All of these are excellent details you can use when it comes to picking an offer as well as making one. Of course, a qualified Seattle, WA realtor is the one to give you this info and they have the ability to tailor it to your specific needs as well as specific neighborhoods. During such a tight market, you want to make sure you have expertise and professionalism on your side. Buying and selling Seattle real estate is not as cut and dry as simply making or accepting an offer. There are so many details that go into both aspects that working with someone well versed in your local market who also acts as you advocate is crucial for a good experience. So how are homes for sale in Seattle, WA doing? Let’s take a look!

According to the latest market report, Seattle real estate is more affordable compared to Bellevue, WA real estate. The median and average sold prices for Seattle, WA homes for sale are still up. However, they are not at the level that Bellevue is. Yet. Currently, the median sold price is up 15.2% at $651,000. The average sold price for homes for sale in Seattle, WA are up 12.5% at $739,035. The price per square foot is also up 10.6% at $450.  While these numbers are all up compared to this time last year, they are actually down a little bit compared to last month. Which is great news for buyers as this could add a little extra leeway in their buying budget. New listings are down 3.1%, homes for sale in Seattle are down 17.3%, pending sales are down 0.7% while closed sales are down 4.1%. Median days on market are currently at 8 while the median is at 18. Month supply is up from 0.80 last month to a 1. While this is still incredibly low, anything new is a relief to buyers. Keep in mind a balanced market needs a month supply of 6 so we have a ways to go.

With high demand and low inventory, it is more important than ever that you work with a qualified Seattle, WA realtor. If you want more information on Seattle, WA homes for sale or the Seattle real estate market in general, give me a call. I can provide custom market reports on specific neighborhoods and areas.


Posted on January 8, 2018 at 8:35 pm
Britt Wibmer | Posted in Britts Picks |

Medina, WA Real Estate Update

If you are looking to buy or sell Medina, WA homes for sale, knowing the current market conditions can make a big impact on your success. It isn’t news that both Bellevue, WA real estate and Seattle, WA real estate are dealing with incredibly high buyer demand and incredibly low inventory. The lack of inventory makes it hard for sellers to let go of homes for sale in Medina as not having a new property to move to creates an obvious issue. Meanwhile, buyers are dealing with multiple bids and over asking offers. Sellers stand to benefit from this as they can make quite a bit of profit at resale. Regardless of what side of the transaction you are on, knowing things like median and average sold price, days on market and month supply can guide you in crafting a competitive offer as a buyer, and which offer to accept as a seller. Of course, choosing a qualified Medina, WA realtor also makes a difference as an experienced professional can help guide you from start to finish. With how competitive the current market is, it is more important than ever to work with a long time, local Medina, WA realtor.  So how is Medina, WA real estate doing? Let’s take a look!

The good news for sellers is that the median and average sold prices for Medina, WA homes for sale are UP! The median sold price for homes for sale in Median has increased 30.2% compared to this time last year at $2,800,444. This also happens to be up almost $600,000 from last month. The average sold price for homes for sale in Medina, WA is 30.3% at $3,502,173. This is also up over $500,000 from just last month. The average price per square foot is up 25% at $839. The new listings have seen a small 1.2% increase compared to this time last year while Medina, WA homes for sale have gone up 7.1%. Pending sales have seen a 3.5% increase while closed homes for sale in Medina, WA have seen a 14.8% increase. The average days on market is now at 42% while the median days on market are 11. The month supply has seen no change and is at a 3. A balanced market needs 6 months while anything less than 4 is considered a seller’s market. If you are looking for more information on Medina, WA real estate, feel free to reach out. As a resident of Medina and a Medina, WA realtor, I have my finger on the pulse of the market and am able to help you navigate this sought-after neighborhood.


Posted on January 8, 2018 at 8:34 pm
Britt Wibmer | Posted in Britts Picks |

Clyde Hill, WA Real Estate Update

If you are looking to sell or buy Clyde Hill, WA homes for sale, knowing what is happening in the local market can guide you as both a buyer and a seller. Knowing the average and median sold price of homes for sale in Clyde Hill, WA can help you come up with a market appropriate list price as well as a competitive offer. Using things like days on market, price per square foot and month supply can also be handy as you figure out which offer is the best for you in both buying and selling. Of course, choosing a qualified Clyde Hill, WA realtor can also make a huge impact as an experienced professional can help you navigate each part of the process successfully. So how is Clyde Hill, WA real estate doing? Let’s take a look!

The good news for sellers is that the median and average sold prices for Clyde Hill, WA real estate have increased compared to this time last year. The median sold price for Clyde Hill, WA homes for sale is up 23.6% at $2,658,000. The average sold prices for homes for sale in Clyde Hill, WA are also up 38.9% at $3,083,211. The price per square foot is up 16.6% at $696. This is great for sellers as it means that they have a good chance of making a great profit at resale. The bad news for buyers is that new Clyde Hill, WA real estate listings are down 29.5%. Clyde Hill, WA homes for sale are also down 14.3%. Pending sales are down 27.5% and closed sales are down 34.9%. Median days on market in this neighborhood are at 14 while the average is at 53. The month supply for Clyde Hill, WA real estate is at 3. In order for a market to be considered balanced, it needs a 6 month supply.  As a Clyde Hill, WA realtor, I prefer to pull these details from our local Northwest Multiple Listing service to ensure that I am providing accurate data. If you are looking for a custom market analysis for your neighborhood or simply want more info from a Clyde Hill, WA realtor, feel free to give me a call. I would love to discuss your real estate needs!


Posted on January 8, 2018 at 8:33 pm
Britt Wibmer | Posted in Britts Picks |

Bellevue Market Report

Buying or selling on the Eastside of King County? With homes for sale in Bellevue, WA being in high demand more than ever, knowing the market conditions is crucial for success. As a seller, homes are moving quickly and in a lot of situations, with multiple over asking offers. As a buyer, this can create some stress and pressure as you try to get into homes for sale in Bellevue, WA that fit your needs and your budget. When you educate yourself on the local Bellevue, WA real estate market, you are can utilize things like average and median sold prices, days on market and percentage of list price to your advantage. As a seller, you can use this to find out what is an appropriate list price and how fast homes are moving. As a buyer, you get a good idea of your competition and can come up with a competitive offer you feel confident about. Regardless of what side of the transaction you are on, I strongly urge you to align yourself with a qualified Bellevue, WA realtor. We work as your guide throughout the entire process and advocate for you no matter what comes up. In such a tough market, having experience and professionalism on your side is the best way to go.  So how is the Bellevue, WA real estate market doing? Let’s check it out.

The good news for sellers is that sold prices for homes for sale in Bellevue, WA have gone up. Way up. The median is up 20.2% compared to last year at $859,212. This actually happens to be down compared to last months $880,000 median sold price. The average sold price for Bellevue, WA homes for sale is up 18.9% compared to this time last year at $1,057,825. This is also down a bit compared to last month. The average price per square foot is up 17.4% at $458 which also happens to be down from last month. New listings are down 3.4%, homes for sale in Bellevue, WA are down 25.1%, pending sales are down 1.8% and closed sales are down 4.8%. The median days on market is 7 and the average has gone up to 23 from 20 last month. This means homes are accepting offers in less than a month of being listed. Month supply is also down 25% at 1.2. This is actually good news for buyers as last month it was at 0.80! Of course, a balanced market needs a 6 month supply and anything under 4 is considered seller territory, so there is still a major lack in listings which makes it tough on buyers.

It is important to note that while real estate in Bellevue, WA is more compared to Seattle Real Estate, it is considered to be a very desirable part of King County to live in. Bellevue is either home to or in close proximity to local corporations, fabulous schools and the amenities of a city while being close to all the things the PNW is famous for: mountain biking, hiking, lakes, skiing and much more. If you aren’t sure what area in Bellevue you are interested in being in, working with your Bellevue, WA realtor can help narrow down what part of this city is best for you and your family. Including what neighborhoods fit within a certain price point. With home prices dropping a little bit, sellers should consider putting their home on the market sooner rather than later while buyers can rejoice in knowing that their buying budget just got a little extra cushion. With King County real estate expected to be one of the hottest markets in 2018, we don’t know how long this is going to last. If you are serious about buying, it is more important than ever that you choose an experienced Bellevue, WA realtor. For more information on a specific neighborhood, give me a call. I would be happy to help!


Posted on January 8, 2018 at 8:31 pm
Britt Wibmer | Posted in Britts Picks |

2018 Real Estate Forecast

Whether you are selling or buying homes for sale in Bellevue, WA, knowing what is happening in the market place is crucial. This is why I continually update the market reports for Bellevue, WA real estate & Seattle, WA real estate.  Arming yourself with knowledge like days on market, the average and median sold price and percentage of list price can help you immensely. As a seller, you know what Bellevue, WA homes for sale are actually selling for price wise. This helps you pick the market appropriate list number. As a buyer, you get an idea of what you may spend in the area based on the sold prices for homes for sale in Bellevue, WA. So what is expected to happen in Bellevue, WA real estate & Seattle, WA real estate for 2018? Let’s see what the folks at realtor.com uncovered based on the economic growth indicators and historical data!

The new proposed tax reform

This could change everything! Currently, and thankfully, the jury is still out. If a version of this tax reform does come to pass, we can expect to see declining home prices and less homes for sale in Seattle, WA. It is important to know that realtors all over, including Seattle, WA realtors, are fighting for homeowners across the nation right now.

Supply is supposed to catch up with demand. 

Hallelujah! If you are a buyer, this is music to your ears. But don’t get too excited just yet. This isn’t expected to come to fruition until the end of 2018. The start of the year is expected to still be challenging for those looking to buy homes for sale in Seattle & Bellevue. However, thanks to new construction, we are going to see that tight inventory ease up thanks to new additions coming on the market. Now, if you are shopping on a budget, it is important to note that experts are expecting the higher priced homes to see relief first before it trickles down to the bargain buy homes for sale in Seattle, WA. Across the nation, anything $350,000 and up is considered a “higher price point”. However, for those of us in King County, our average sold price is $664,754. What this means for our buyers remains to be seen, but the hope is that since we have so many looking at the higher price points that they will see relief soon. Across the nation, prices are expected to go up before they come down and slow to a 3.2% year over year growth. As a seller, this means now would be a good time to list if you want to make the most money at resale. As a buyer, it means you have to hang tight for a little bit longer. Our recommendation is to start the process now. Align yourself with a qualified Seattle realtor and keep an eye on homes for sale in Seattle, WA that match your criteria.

Millennials continue to dominate the market

It seems like this last year, the focus was all on the millennial buyer. 2018 likely won’t be any different as they are predicted to make up 43% of the nations buyers. This past year (or so), millennials across the nation struggled to not only handle student loan debt but also take on a mortgage for homes listed at record high prices. However, thanks to continued economic growth and more inventory, millennial buyers are expected to be able to not only qualify for a mortgage, but not be limited to a starter bargain home as so many first time buyers are. Now, Seattle, WA real estate is a bit of a different animal due to rapid career growth and high paying tech jobs. There is no shortage of successful millennials. Part of the struggle in our neck of the woods was simply lack of inventory. However, this upswing could result in hundreds of thousands of new homes coming on the market, creating a rebound for years to come. If you are a millennial reading this, don’t wait. Mortgage rates are expected to hit 5% by the end of 2018.

The South is where it is at

Seattle is still forecasted to be the hottest housing market for 2018, however, we have some competition. The Southern states are expected to beat the national average this next year with a 6% growth compared to the national 2.5%. The South dominating real estate is not news. Like their weather, these markets have been hot for a while. In fact, it seems someone is always moving to Austin thanks to great employment options and a large house with a big yard at a fraction of the cost compared to markets along the West Coast. With low costs of living, strong economic growth and warm weather, buyers have been snapping up luxurious homes for a great price point for a while.

Whether you are buying or selling in 2018, it is so important to work with an experienced Seattle, WA realtor. The first half is kicking off with increasing prices and record low inventory. While buying in the winter usually sees less competition for buyers, we have overflow from the folks that couldn’t get into Seattle, WA homes for sale. For more information, give me a call. I would be happy to advise!

 


Posted on December 5, 2017 at 6:51 pm
Britt Wibmer | Posted in Britts Picks |

Medina, WA Real Estate Update

If you are looking to list or purchase Medina, WA homes for sale, being aware of the current market conditions can make a big impact on your success. As a seller, you will get a good idea of what to list at while as a buyer, you get a good idea of what you’ll spend. Of course, choosing a qualified Medina, WA realtor also makes a difference as an experienced one can help guide you from start to finish. With how competitive the current market is, it is more important than ever to work with a long time, local Median, WA realtor.  So how is Medina, WA real estate doing? Let’s take a look!

The good news for sellers is that the median and average sold prices for Medina, WA homes for sale are UP! The median sold price is up 11.9% compared to this time last year at $2,285,000. The average is down 7.3% at $2,914,877. Interestingly, these are both down compared to last month.The average price per square foot is also down 12.2% at $690. The new listings have seen no change compared to this time last year while Medina, WA homes for sale have gone up 33.3%. Pending sales have seen a 20% decrease while closed sales have seen a 66.7% increase. The average days on market is down 48% compared to this time last year to 64 days while the median days on market are up to (wait for it: 583%) at 41. The month supply is also up 31.6% and is now at a 2.5. A balanced market needs 6 months while anything less than 4 is considered a seller’s market. This month’s Medina, WA real estate report is definitely an interesting one, if not conflicting. We will see what next month brings, but in the meantime, feel free to let me know if you have any questions. I would be happy to help!


Posted on December 5, 2017 at 5:09 am
Britt Wibmer | Posted in Britts Picks |

Seattle, WA Real Estate Update

If you are thinking of buying or selling Seattle, WA homes for sale, knowing the current market conditions can have a big impact on your experience as both a seller and a buyer. As a seller, knowing things like the average and median sold price will help guide you in picking an appropriate listing price. As a buyer, you get an idea of what price Seattle, WA homes for sale are moving at. In addition to knowing how to work that magic number regardless of what side of the deal you are on, you get other information like days on market, price per square foot, etc. Of course, working with a qualified Seattle, WA realtor can also give you this information while tailoring it to your specific needs. Additionally, we can guide you throughout the entire transaction which makes a profound difference. You will need someone who is well versed in the local market, as well as someone who acts as your advocate in case things get complicated. Which is crucial in a competitive market like Seattle. So how are homes for sale in Seattle, WA doing? Let’s take a look!

According to the latest market report, Seattle real estate is more affordable compared to Bellevue, WA real estate. The median and average sold prices for Seattle, WA homes for sale are still up. However, they are not at the level that Bellevue is. Yet. Currently, the median sold price is up 18.4% at $675,000. The average sold price for homes for sale in Seattle, WA are up 18% at $764,508. The price per square foot is also up 18.3% at $465. The good news for buyers is that new listings are up 16.9%. Although homes for sale in Seattle, WA are down 16.1%. Pending sales are up 9.4% while closed sales are down 6.8%. The days on market are pretty close to Bellevue, WA real estate though. Median is 8 and average is 20. Month supply is also the same as Bellevue, WA real estate at 0.80. A balanced market needs 6 months and anything less than 4 is considered a sellers market. With high demand and low inventory, it is more important than ever that you work with a qualified Seattle, WA realtor. If you want more information on both the Seattle & Bellevue markets, give me a call. I can provide custom market reports on specific neighborhoods and areas.


Posted on December 5, 2017 at 4:51 am
Britt Wibmer | Posted in Britts Picks |

Bellevue, WA Real Estate Update

With one month left of 2017, all eyes are on our corner of the Pacific Northwest. With so many transplants relocating to King County, homes for sale in Bellevue, WA are in high demand more than ever. With quick proximity to the top schools in the area, all the amenities of a major city with a small town feel and quick access to Seattle, it is no wonder Bellevue, WA homes for sale are in such high demand. If you are thinking of listing Bellevue, WA real estate, now is a great time. If you are buying homes for sale in Bellevue, WA, I urge you to align yourself with a qualified Bellevue, WA realtor. The competitive market place is causing a lot of stress for buyers as they deal with low inventory and rapidly increasing prices. One of the best ways you can prepare yourself is by getting the facts about the market stats. This is great regardless of whether you are listing Bellevue, WA homes for sale or buying them. Knowing things like average and median sold prices, days on market and dollar per square foot can help you immensely. From listing at an appropriate price to figuring out what is a desirable offer to make. Of course, these are all details that a Bellevue, WA realtor can help guide you with as well. So how is the Bellevue, WA real estate market doing? Let’s check it out.

The good news for sellers is that sold prices for homes for sale in Bellevue, WA have gone up. The median is up 25.7% at $880,000 while the average is up 13.3% at $1,065,111. The average price per square foot is up 15% at $468. If you are interested in selling Bellevue, WA homes for sale, now is the time. In fact, I would say that this month’s market report is in favor of the sellers across the board. New listings are down 7.3%, homes for sale are down 28.4%, pending sales are down 3.2% and closed sales are down 29.5%. The median days on market is 7 and the average is 20. This means homes are accepting offers in less than a month of being listed. Month supply is also down 33.3% at 0.8. A balanced market needs 6 months and anything under 4 is considered seller territory. If you are serious about buying, it is more important than ever that you choose an experienced Bellevue, WA realtor. For more information on a specific neighborhood, give me a call. I would be happy to help!


Posted on December 5, 2017 at 4:25 am
Britt Wibmer | Posted in Britts Picks |

Clyde Hill, WA Real Estate Update

If you are looking to list or purchase Clyde Hill, WA real estate, knowing the current market conditions can make a huge impact on the success you have. Of course, choosing a qualified Clyde Hill, WA realtor can also make a huge impact as an experienced one can help you navigate each part of the process successfully. As a seller, you want to know things like what your average or median days on market are looking like or what the median and average sold prices are so you can make a good decisions on a selling price. As a buyer, you want to know these aspects as well so you know what is considered a good offer that has a high chance of getting accepted. So how is Clyde Hill, WA real estate doing? Let’s take a look!

The good news for sellers is that the median and average sold prices for real estate in Clyde Hill, WA have increased! The median sold price is up 9.2% at $2,325,000 which is up compared to this time last year AND last month. The average sold price is up 19.2% at $2,680,072. The average price per square foot is up 7.7% at $642 and the average percentage of list price is slightly down at 98.7%. The percentage of list price basically indicates your negotiation power as a buyer and lets the seller know how much, on average, they can expect to receive of their list price. Unfortunately for buyers, new listings are down 25.8%, homes for sale are down 10%, pending sales are down 24.4% and closed sales are down 7%. Interestingly enough (and we saw this last month for this area AS well as in Medina), the median days on market are down 26.3% at 14 days but the average is up 28.9% at 49 days. It is important to note that with higher priced homes, as Clyde Hill, WA real estate is known for, it isn’t uncommon for them to sit a little longer. One home can also throw the entire average off. Regarding the month supply, this number continues to be down at 12.1% with a 2.9 month supply compared to this time last year. HOWEVER! This is up (minimally, but we will take it!) compared to last month. In order for real estate in Clyde Hill, WA to be considered balanced, we need a 6 month supply. As a Clyde Hill, WA realtor, I prefer to pull these details from our local Northwest Multiple Listing service to ensure that I am providing accurate data. If you are looking for a custom market analysis for your neighborhood or simply want more info from a Clyde Hill, WA realtor, feel free to give me a call. I would love to discuss your real estate needs!


Posted on October 18, 2017 at 5:38 pm
Britt Wibmer | Posted in Britts Picks |

Medina, WA Real Estate Update

If you are looking to list or purchase Medina, WA real estate, being aware of the current market conditions can make a big impact on the success you have. As a seller, you want to know things like what your average or median days on market are looking like or what the median and average sold prices are so you can make a good decisions on a selling price. As a buyer, you want to know these numbers so you can feel confident that you made a good offer that has a high chance of getting accepted. Of course, choosing a qualified Medina, WA realtor also makes a difference as an experienced one can help you navigate each part of the process successfully. With how competitive the current market is, it is more important than ever to work with a long time, local real estate expert.  So how is Medina, WA real estate doing? Let’s take a look!

The good news for sellers is that the median and average sold prices for real estate in Medina, WA are UP! The median sold price is up 33.4% compared to this time last year at $2,800,888. The average is up 43.3% at $3,591,877. The average price per square foot is up 32.9% at $844 and the average percentage of list price is actually down for the first time in a LONG time at 99.5%. This is only down 0.5%. The percentage of list price basically indicates your negotiation power as a buyer and lets the seller know how much, on average, they can expect to receive of their list price. When this number reaches 100%, this usually means homes are getting full price offers. Unfortunately, due to the fact that we are in a seller’s market, new listings are down 13%, however, pending sales are up 9.1% while closed sales remain unchanged. Interestingly enough, the median days on market are down 33.3% at 10 days but the average is up 58.6% at 46 days. It is important to note that with higher priced homes, as Medina, WA real estate is known for, it isn’t uncommon for them to sit a little longer. One home can also throw the entire average off. Regarding the month supply, this number continues to be down at 6.7% compared to this time last year with a 2.8 month supply. However, it is important to note that this is unchanged compared to last month. In order for real estate in Medina, WA to be considered balanced, we need a 6 month supply. As a Medina, WA realtor, I prefer to pull these details from our local Northwest Multiple Listing service to ensure that I am providing accurate data. If you are looking for a custom market analysis for your neighborhood or simply want more info from a Medina, WA realtor, feel free to give me a call. I would love to discuss your real estate needs!


Posted on October 17, 2017 at 6:03 pm
Britt Wibmer | Posted in Britts Picks |

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