Current Real Estate Market

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, Finances

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 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 […]

Current Real Estate Market Regional Housing Market Forecast for the Remainder of 2020 In his updated 2020 forecast, Matthew Gardner discusses how COVID-19 has changed the landscape in the economy and housing market. Click here to learn more about what’s next in the King/Pierce/Snohomish county area during the 2nd half of 2020.

Current Real Estate Market Snohomish County Sales and the Legacy of Racism I’ve been studying sales statistics and doing some thinking. Yesterday I listened to Matthew Gardner who discussed home ownership rates since the late 19th century. At the end of his presentation, he shows a comparison of home ownership among different racial classes. As you might guess, white/Caucasian home ownership is significantly higher than all other […]

Current Real Estate Market July 2020 Market Snapshot As you can see from the following stats in the link below, activity in July has been brisk! It is definitely a Seller’s market! Despite being in a pandemic, sales have been brisk. Pending Sales have been increasing consistently over the past two months, and inventory has shrunk–it is over 40% lower than at the […]

Current Real Estate Market Just Listed Today! Relax in this spacious, airy, 4 bedroom, 2.75 bath home that’s tucked away on a quiet cul-de-sac. Updates throughout include gleaming hardwood & tile floors, granite counters, stainless steel appliances, gas range, French doors, skylights, fresh paint, carpet, & more. Entertain on the upper deck, lower patio, & large backyard, then roast S’mores in the […]

Current Real Estate Market How Do Consumers Feel About Buying & Selling Right Now? This week learn about results from the National Housing Survey results published by Fannie Mae. Chief Economist Matthew Gardner dives into the #s that measure the public’s current sentiments re: buying and selling. https://www.windermerehub.com/member/post/899f7d22-a5d3-432f-8717-7345911c8250?uid=107130&actr=Broadcast&actd=1135 Do you (or anyone you know) want or need to buy or sell a home now? If you are worried about […]

Current Real Estate Market Sold Safely $38k Over Asking! My Seller is in a high-risk group. She and her family had concerns about her staying safe during COVID-19, but she needed to sell quickly and wanted top dollar for her home. I helped her achieve her goals: Her home sold in 4 days for $38k over asking price (9.2% above list price) 15 offers […]

Current Real Estate Market June 2020 Market Stats for the NWMLS Check out June 2020 real estate statistics for the 23 counties that comprise the Northwest Multiple Listing Service (NWMLS). Quick takeaways: COVID-19 + Low inventory are the driving factors in the current real estate market. Homes are selling 33% faster than they were a year ago. Compared to 2019, inventory of available homes was down […]

Current Real Estate Market Why Aren’t More Millennials Buying Homes? Why is home buying lower among Millennial buyers? Matthew discusses this as well as how a lack of home buying can affect long-term wealth and wealth inequality. As always, if you know someone who is thinking of buying or selling, please pass on my info…I’d love to help! #yourhomesherpa https://www.windermerehub.com/member/post/2b898d6d-6b32-43e0-a85f-9a102d36c26a?uid=107130&actr=Broadcast&actd=1098

Current Real Estate Market New COVID-19 Requirements for Real Estate Recently, Governor Inslee made changes to the rules/requirements for Real Estate. Here are the latest requirements as of 6/24/2020, sorted by Phases. WA Counties are listed at the bottom of the chart. 062420 Phase Chart with Counties

Current Real Estate Market Record Mortgage Demand During COVID-19, many people have been waiting on the housing sidelines as mortgage rates have dropped to record lows. Now that restrictions are being lessened, people are coming out in droves, applying for mortgages with interest in buying/selling. Mortgage applications are now at an 11-year high and 21% higher than last year. For more info, […]