Current Real Estate Market

What's happening in the current Real Estate market

Current Real Estate Market Q2 2021 Western Washington Gardner Report Matthew Gardner, Windermere’s Chief Economist, shares second quarter 2021 housing statistics. To see his blog, click here.  Highlights from Matthew: Q2 Listing activity was 42.8% higher thanQ1 San Juan, King, Whatcom, and Snohomish counties saw significant sales increases Home prices rose 31.4% compared to a year ago. The average sale price was $734,567—another all-time record. […]
Current Real Estate Market Why Homebuyers Are Struggling in This Market Here is a great Forbes article that gives a nice overview of the challenges buyers (especially first-time home buyers) are having in today’s strong seller’s market. The buying strategies discussed are sound and common in our area. While this is great information, the author doesn’t mention the importance of communication. I cannot overstress the importance […]
Current Real Estate Market Monday with Matthew: Why Home Prices Have Risen So Much In this month’s episode of “Monday with Matthew,” Matthew Gardner digs into the data on inflation rates and mortgage payments to explain the significant increase in home prices over the past thirty years. He also discusses the topic of a housing “bubble.” Good stuff!!
Current Real Estate Market May 2021 Was Record Breaking This past month was one for the record books: Record increases in the median price year-over-year, record low inventory, and record low interest rates. It was (and still is) a “perfect cocktail” for sellers and a “perfect storm” for buyers. For a good article about the current Seattle real estate market, click the link below: […]
Current Real Estate Market May Housing Statistics The May 2021 housing numbers for the Northwest Multiple Listing Service have been crunched. My reaction? WOW!! The median price for a single family home increased 30% over May 2020. For a quick video featuring the highlights and further details, click here.
Current Real Estate Market Q1 2021 Gardner Report First quarter housing numbers are in! As you might expect, Western Washington continues to be a strong seller’s market and will likely remain so for the foreseeable future. Low interest rates, limited inventory, and pandemic-driven relocations are the biggest factors. Notice how San Juan and Island Counties topped the list for increased sales volume in […]
Current Real Estate Market Seattle Times Article: Buying a House in Seattle This is a decent article about buying a home in Seattle in the current intense seller’s market. The article does a good job discussing the challenges, potential pitfalls, and steps to successfully purchasing a home. While I don’t completely agree with some of the statistics (such as the % of homes that generate bidding wars), […]
Current Real Estate Market Second Home Considerations Are you thinking of buying a second home? With the recent gains in the stock market and in real estate values, many people are! Here are some things to consider before you take the leap. While it can be a potential source of passive income or a nice getaway, there can be added costs and […]
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Current Real Estate Market Generational Housing Trends Millennials are now the biggest contingent of home purchasers ever. “82% of younger millennials and 48% of older millennials were first-time homebuyers, more than other age groups,” according to the National Association of Realtors. Gen Z is also entering the housing market and is now considered an active group of home buyers. Click here for […]
Current Real Estate Market Housing Tipping Point? This past year the housing market surprised a lot of us: Sales were brisk, prices rose, and interest rates hit record lows, fueling demand. Who would have predicted this during a pandemic? The winds of change may be blowing, however. This article discusses various factors that may point to an upcoming correction in the housing […]
Current Real Estate Market 2021 Housing Price Predictions Disclaimer: I don’t have a crystal ball. (Nobody does) That said, here is what the analysts at Realtor® Magazine are predicting in 2020: Home prices are expected to rise 5.7% Interest rates should creep up to 3.4% Sales of existing homes are likely to rise 7% For first-time home buyers and those on a budget, […]
Current Real Estate Market November 2020 Market Snapshot This short 4 minute video gives shows November 2020 sales statistics for the NWMLS.* The statistics compare November 2020 to November 2019. To watch, click this link. Key highlights (if you don’t want to watch). Number of transactions + 23% Median price: $495,000, + 13.8% Total sales volume in dollars: +42.9% Available inventory at the […]
Current Real Estate Market Home Prices in Seattle top Nationwide Increases Seattle was #2 in the nation for price growth in September 2020. This is according to S&P CoreLogic Case Shiller Home Price Index reported by The Seattle Times. Homes in the middle tier (priced between $470,183-$705,295) rose 12% year-over-year, and modest homes (under $470,183) rose 12.5%. Homes over $705,295 rose by 9%. Going forward in […]
Current Real Estate Market Millions Behind on Rent and Mortgage Payments This is a sobering chart: Millions of Americans are behind on rent or mortgage payments and are at risk of eviction or foreclosure in the next two months. In Washington state, over 21% are not current. That’s a staggering number! If people lose their homes, the housing market will no doubt be affected. Hopefully we […]
Current Real Estate Market Mortgage Rates at a New Low…AGAIN For the fourteenth time this year, mortgage rates have hit a new low! The 30-year fixed-rate mortgage is now at 2.71%. While this is good news for buyers, purchasing power has been diminishing due to home prices rising. Higher prices reflect basic Economics 101: When supply is low and demand is high, prices usually go […]
Current Real Estate Market The US Job Market and Economic Update The October 2020 jobs report is out! It this video, Matthew Gardner dives into the report and discusses it’s implications. At first glance, the headlines appear good: We added 638,000 jobs in October. This is higher than most experts predicted. However, since February 2020 we have lost 10.1 million jobs. Let that number sink in. […]
Current Real Estate Market Q3 Western Washington Gardner Report The Q3 Western Washington Gardner report is out! What is this? Each quarter Matthew Gardner, Windermere’s Chief Economist, crunches the sales numbers for Western WA and creates a report analyzing what the numbers mean. Here’s the “Cliffs Notes” version: The average home price in this region increased 11.6% compared to a year ago, to $611,793 […]
Current Real Estate Market September 2020 NWMLS Sales Statistics Here are September 2020 sales statistics for the Northwest Multiple Listing Service (NWMLS).  Click here to watch the 4 min video. The NWMLS Market Snapshot report lists statistics for all 23 counties in the Primary Service area and includes homes, condominiums, and new construction. Quick take-aways from the report: $6.27 Billion in closed sales during […]
Current Real Estate Market Analysis of the Latest Economic Data On this week’s  “Mondays with Matthew”, Matthew Gardner analyzes the most recent economic and real estate data. Included are a variety of key indicators, including retail sales, consumer sentiment, and the housing market index. Don’t miss the surge in lumber prices! It will be interesting to see how this will affect the future price and […]
Current Real Estate Market August Market Stats Here are the NWMLS Market Stats for August 2020. Quick takeaways: The median sold price of homes is 14% higher compared to August 2019 Total volume of sold homes increased 19.7% from 2019 to $5.98 Billion New listings increased 13.9% while pending sales increased 24.7% compared to August 2019 The difference between new listings and […]