A little cooling off can been seen in the market this week as we bring the latter part of August, and summer break, to a close and begin planning for back-to-school.
This week will likely mark the last active listing week of August as buyers, sellers and agents enjoy the last bit of summer vacations and prep for back to school. The second half of August is a great time for buyers to find the tables turned in their favor.
Look for a rush of new listings to come to market in the week following Labor Day as we enter the second most active season of the year.
The week’s record heat dried up the Seattle region’s inventory of homes for sale right along with everything else. We can’t remember an August where the number of homes for sale was this low!
Followed by last week’s record sales, and fewer new listings to market, this week marked an even more extreme shortage of homes for sale-with most areas having far less than one month of inventory at their mainstream price points. What is left on the market is often tired or lacking desirable features. Turn-key homes are golden right now and we need more of them!
Q2 2017 REVIEWS: Click to view quarterly market reports for Mercer Island, Seattle and The Eastside. Published July 2017 … Continue Reading Q2 2017 Seattle Area Residential Real Estate Report
Q2 2017 REVIEW Q2, typically the second most active quarter of the year for waterfront—behind Q3—saw an expected seasonal uptick … Continue Reading Q2 2017 Seattle Area Waterfront Report
This week strongly favored sellers as fewer new listings came to market and more listings sold pending.
Click here for the full report and neighborhood-by-neighborhood statistics!
We’ve seen an eclectic week this week in the greater Seattle region with more affordable price points strongly favoring a seller’s market while upper price points have slowed a bit.
Q2 2017 CONDO REVIEW The Q2 median sale price increased by 14.6% in Seattle and 17.2% on the Eastside over … Continue Reading Q2 2017 Seattle Area Condo Report
As anticipated, many new listings entered the market this week. Coupled with fewer holiday week sales, Seattle area real estate is slightly leaning in buyer’s favor this week…at least in upper price points. This is especially true with Downtown Seattle condos where all but the lowest price points are either balanced or buyer-friendly.
Whoa Betsy! What’s happening in Ballard this week? Virtually zero month’s supply of inventory on the market for sale below $1.5 million!! Other areas fare better for buyers this week…but a low supply of homes for sale is prevalent throughout the region as we head into this holiday weekend. Look for some relief in the form of new listings by next weekend as homes come to market after the holiday lull.
We’ve seen more listings come to market in the past week than during most weeks in April. That equates to more choices for buyers and possibly, just possibly, a little more balance (between buyers and sellers) in the market.
The frenzied market of last week has certainly cooled to a more moderate pace. Sellers: not to worry-you’ll likely still have multiple offers-maybe just not 10 of them. Buyers: the second half of the year is your opportunity to shine with more homes for sale and fewer competing buyers than in the spring.
The big winners this week were the Central and West Seattle neighborhoods and Downtown Bellevue condos-if you are a seller that is. For buyers-South Seattle, East Bellevue and Kirkland all had a nice jump in new listings to choose from.
This week feels a bit like watching a ping pong match in in the real estate market. On the tails of strong seller sentiment last week we find buyers more in the driver’s seat this week with more new listings on the market and fewer pending sales. A little more of this kind of balance does a market good!
Sellers had the upper hand this week with fewer new listings on the market and pending sales depleting much of the existing inventory. This was especially so in Ballard and North Seattle. Several Eastside neighborhoods showed some balance in the $1.5 million range but were otherwise right in tune with Seattle. Expect many new listings to come to market in the two weeks following Memorial Day weekend.