Seattle Eastside Real Estate Stats for Aug 2012

Continuing with a Seller’s Market for Aug 2012…this is very encouraging news, as the rest of the country has not had this strong of a comeback in the real estate market or this fast.  The rate of market value increases has been slow, but steady.  We’re seeing anywhere from 2-4% increase in market value over this time last year.  Remember, slow and steady wins the race!  Here’s some more

Aug 2012 Seattle RE Stats

facts and data:

•   Months Supply of Inventory              2.1                     -46% change
•   Total Active Listings                           1859                    -33% change
•   Pending (YTD)                                       6837                     22% change
• # of Closed Sales (YTD)                       4746                    19% change

Always available to share/explain this info in detail, so never hesitate to engage me.  Here’s to a very active and solid 4th qtr for our Seattle Real Estate Market!

Seattle Eastside Real Estate Stats for May 2012

Seller’s Market May 2012

The Seattle area real estate market is continuing to improve!  The Eastside (Areas 500-600) average 1.8 months of inventory and prices have come up 2% this month…if no new listings came on the market, we would sell out of homes in less than 2 months…!  The homes in better condition and priced well will go first in this market especially.  Our local economy continues to help our real estate market by becoming as much of a tech-resource as the Silicon Valley has been.  Twitter just announced they’re opening up office space in the Seattle area…all of the social media giants plus Microsoft and Amazon have realized the valuable tech resources we have in the NW so they are creating a presence here!

Reading the chart below, it shows how the strong real estate market continues to be during May for the Seattle Eastside Areas (500-600).  Inventory is down 34% and sales are up (pending 23%, closed 13%) thus, months’ supply of inventory is down to 1.8 (or 48%). Prices are increasing (closed sales price YTD up 2%).  If there’s anything I can do for you, don’t hesitate to let me know!

May_2012_Seattle_RE_Stats

What’s the Seattle Real Estate Market Doing Right Now?

Seattle Real Estate Market

What’s the Seattle Real Estate Market Doing Right Now?  Have you wondered what is up with the entire Seattle Real Estate Market lately?  I get that question all the time.  Property is actually selling again!  YaaaHoooo!  And not only selling, but in some cases, selling  with multiple offers in record time!!

So what’s driving this “new” market we’re experiencing in the Seattle area again? In a word, it’s ECONOMY.  Our economy is strong.  What makes it strong?  Diversity!  Seattle just got tagged as the No. 1 in the Tech Job arena…From Microsoft, Amazon.com, Ebay, Google, Facebook and all of the others, tech jobs have put Seattle on the map as No. 1…!  Boeing is doing well and on a big hiring surge for tech professionals and engineers.  We’re a Bio-Tech region, supporting world-re-known healthcare facilities. How about Starbucks & Tully’s, Nordstrom & Eddie Bauer?  All of these make our world go ’round, both locally as well as  internationally.

I almost forgot to mention the still record low interest rates!

With all of that commerce, home builders are back in action too and having a hard time keeping up with demand.  Sellers have been slow to return to the market, so housing inventory is low.   What are you seeing in your neighborhood?

The Importance of Pricing Your Home to Sell in the Seattle Area

Priced To Sell

How important is pricing your home to sell?  Huge question… So huge, I chose this snowy picture to illustrate a point:  when priced right, you too can sign a Purchase & Sale contract during a snowy holiday…!  It’s the difference between drawing attention to your home from qualified, active buyers to no activity, or so you think.  Consider when you contemplate the purchase of a household appliance and you do your comparative shopping for that item.  You look at all the features, the colors, the upgrades, the attachments, the “things that make your item cool” and weigh that against the price.  Same goes for a house.  Whether it’s area/neighborhood/location/school district, size of lot, size of home, condition of the home/upgrades to the home…all of these things factor into how you price your home.  Your home may be the one that everyone is comparing to as the “overpriced” home…not the attention you want!

So what happens if you realize you’re priced too high…it can be a vicious cycle of chasing the Seattle market.   The chart below will depict this vicious cycle…It’s better to over-correct on your price and let the market react.  Otherwise you can be chasing your tail, so to speak.  The good part of our Seattle market right now is that when you are priced appropriate to the market, you just might see an offer in record time &/or see multiple offers…yes they’re back!

Overprice-Chart

So even though Seattle may be coming out of the “depreciating market”, now is not the time to put your house on the market using 2008  Seattle housing market values.  Our market is seeing a healthy, slow & steady uptick in prices.  That’s good for you and me and the economy…don’t hesitate in contacting me to discuss your particular real estate needs.