Dec. 8, 2018

Kirkland Market Report

Homes For Sale In Kirkland

Kirkland is a great place to buy a home and is still not only holding it's value but the prices are actually still going up. The inventory has went up but there is still enough buyers in the Kirkland market that the price keep increasing.  Homes and condos on average are selling for the listed price.  It is down since April when the average was a couple points higher than the listed price.  Click on the link to see the homes for sale in Kirkland.

 

Kirkland condos are still on the rise also.  Whether your looking for condos for sale in Kirkland or are searching for luxury waterfront condos the prices are still increasing while other parts of Washington state are leveling off and going down in a lot of areas. On Average the price per sq. foot is at $424 per sq foot while back in May when most of the surrounding areas topped out, Kirkland condos were selling on average for $386 per sq. feet.

Posted in Market Reports
Dec. 3, 2018

Dec. 2018 Downtown Seattle Condo Forecast

 

Average Sales Have leveled off since August

 

1562 New Listings

 

Pending Sales Are Down

 

Days On The Market Is Increasing

 

Months Supply is way up and still heading up.

 

Click the link to search for Seattle Condos For Sale.

Oct. 21, 2018

Downtown Seattle Condos Market

Downtown Seattle Real Estate Market Forecast Oct 2018

 

Median sales Price for Seattle Condos For Sale. Graph shows the price dropping since the real estate market peaked in May 2018.

 

 

The graph below shows a steady increase of inventory since Jan.


 

The days it takes to sell a Seattle condo has been increasing each month since May 2018. The low was around 6 days and now Seattle is sitting at around 26 days on average.


 

 

As inventory stack up in Seattle we are seeing a really big increase in the months of supply.  It used to be less than a month and now we are already at almost 4 months of inventory.


 

This graph shows that buyers are finally able to negotiate on the price a little bit.  On average homes are selling for 98% of the listed price compared to about 6% over the listed price a year ago.

 


 

This graph shows the price per sq. foot for Seattle condos dropping. 


 

Forecast For Seattle Condos

We are seeing more price drops that new listings which means Seattle condo sellers are getting very aggressive with their prices to unload their units. We also have been seeing only about 1/2 the units sold each month compared to the listings coming onto the market.

 

For the month of November 2018 Seattle Condo projected:

  • Prices to continue to go down.
  • Condo inventory to go up.
  • Days on the market to increase.
  • Months Supply to increase.
  • Price per sq. foot to go down.
Oct. 15, 2018

Seattle Real Estate Market Report October 2018

Seattle Real Estate Forecast

In the last 7 days there have been more price reductions than new listings. Listing have increased by 42% in the last 7 days.

 

 

 

 

Median Sales Price for sold homes in North Seattle

The graph shows homes prices are still increasing in Seattle.  I expect this graph to change direction next month due to lack of pending sales and price drops.

 

 

 

New Home Listings For Seattle

The trend so far is an explosive amount of home listings coming onto the market and a lot of buyers fleeing for the hills.

 

 

 

Pending House Sales For Seattle

The last month reported was for September.  I would expect this number to drop as well.

 

 

 

Months Supply For Seattle Homes

With more listings coming onto the market and less buyers this graph should continue North next month.

 

 

Sold To List Price For Seattle Homes

The days of every home having multiple bids is over for now. We are seeing more price drops than listings coming onto the market.  I would expect this graph to keep heading South.

 

Sold Price Per Square Foot

This graph shows the price per sq. foot dropping and the sales price should drop with this this graph in the following months.

 

Posted in Market Reports
Sept. 11, 2018

King / Snohomish County Market Report

New Listings For King County

 

 

Homes For Sale King County

 

 

Pending Sales King County

 

 

 

 

New Listings For Snohomish County

 

 

Homes For Sale Snohomish County

 

 

Pending Sales Snohomish County

 

 

New Listing For Seattle

 

 

Homes For Sale Seattle

 

 

Pending Sales Seattle

 

 

 

New Listings North Seattle

 

 

Homes For Sale North Seattle

 

 

Pending Sales North Seattle

 

New Listings Redmond

 

 

Homes For Sale Redmond

 

 

Pending Sales Redmond

 

 

New Listings Bellevue

 

 

Homes For Sale Bellevue

 

 

Pending Sales Bellevue

 

 

New Listings Shoreline

 

 

Homes For Sale Shoreline

 

 

Pending Sales Shoreline

 

 

 

New Listings Lynnwood

 

 

Homes For Sale Lynnwood

 

 

Pending Sales Lynnwood

 

 

New Listings Everett

 

 

Homes For Sale Everett

 

 

Pending Sales Everett

 

Posted in Market Reports
Sept. 9, 2018

Earnest Money Expained

Earnest Money Explained

What is Earnest Money?

Earnest money also known as good faith is something of value you give to the seller after a contract is accepted to confirm the contract.

What is earnest money for?

Earnest money is used as leverage for the seller to hold a buyer to the contract.  Earnest money is tied to the sale of the purchase and the seller can keep the earnest money if a buyer gets cold feet and decides not purchase.

How much earnest money do you have to put down?

You have to put down something of value. It can be a $1.00 or even a piece of jewelry. The sellers gets to decide if the amount is sufficient.  The typical rule of thumb is 1% of the purchase price.  Home buyers may put down more if they are competing with other buyers and they want their offer to stand out.

When is earnest money due?

When earnest money is due depends on your contract.  Typically it needs to be deposited within 2 days of mutual acceptance of a contract.

Where does the earnest money go?

The real estate contract should state who holds the earnest money.  Typically it's the escrow office handling the sale.  When the property closes the earnest money will go towards your closing cost or the down payment. In the event that a buyers doesn't have closing costs or a down payment then the earnest money would be refunded back to the buyer.

Where does the earnest money go if the sale doesn't go through?

If the buyers have contingencies then they will be tied to the earnest money. For an example the buyers might have an inspection contingency.  The buyers complete their inspection and find out that the home needs a new foundation and they no longer want the home.  They could get out of their contract and receive the earnest money back as long as they respond back before the contingency expires. If the buyers get cold and just want out of their contract and don't cancel based on one of the contingencies then the seller can keep the earnest money.

Posted in Buyers Tips
Aug. 15, 2018

Seattle Real Estate Market

The Seattle real estate market is slowly starting to cool off. We are still seeing a lot of full price offers and bidding wars but not like it was a few months back. 

The last week Seattle has 319 new listings and 34 homes back on the market. The same period there were 196 listings sold, 44 canceled, and 13 expired. That equated to over a 100 new homes just last week that the week prior.

These stats are for all of Seattle for home and condos.

 

Since last year the median sales price in Seattle has went from $564,000 up to $698,000. In June of 2018 it was $691,600.  The prices are still headed up word according to this graph.

 

 

Last July we had 12,458 single family homes and condo for sale. The July we had 13,012.  Not a huge difference but the graph appears to be climbing at a fast rate. Definitely a sign that the Seattle real estate market for 2019 is starting to soften.

The Days on the market are the same as last year at 8 days, which isn't a lot of days but note where the graph is pointing. This is another indication that the Seattle market could be shifting.

 

This graphs shows the months of supply for the Seattle market. If no other homes were listed it would take .90 months to run out of houses.  That number is really low compared to almost all other real estate markets. It shows that the market is still really strong. If the market shifts that number will keep creeping up.  This is a great indicator to see what the current market is doing.

 

This graph show how much on average that homes in Seattle are selling above or bellow. The peak for the Seattle market was April & March and home were selling on average for 2% over.  Currently we dropped down to an average of 1% over the listing price but the graph is starting to point downward. Yet another sign that the market may be slowing down.

Please check back on our home page at findourpad.com as we will be posting more stats to keep you informed in what's happening with the Seattle market.

My Seattle real estate market forecast for 2019 is that it will continue to slow down which is good news for buyers. There are still plenty of people moving to Seattle and our job force is very healthy so I don't really expect prices to take a nose dive.  Hopefully we will get back to a more normal market and keep climbing slow and stead.

Try out our home search which is updated every 15 minutes. You can search for condos by going to the Seattle Condos page or go to our home page to start your own custom search.

 

Aug. 15, 2017

Ballard/Green Lake Real Estate Market Report

Average Asking Price

 

 

Homes For Sale

 

 

 

 

Days On Market

 

 

 

Months Supply

 

 

List to Sold Price

 

 

Price Per Sq. Foot

 

July 31, 2017

Downtown Seattle Real Estate Market Report

July 2017

 

Average Sold Price

 

 

Total Closed Sales

 

Average Day On Market

 

 

 

Months Supply

 

 

Price Per Sq. foot

 

 

Supply is still dropping and price per sq. foot is rising.

 

July Recommendation

HOLD

July 18, 2017

Ballard Greenlake Real Estate Market Report

Median Sale Price For Ballard / Green Lake

 

Days On Market Ballard / Greenlake

 

 

Months Supply Ballard / Greenlake

 

 

List To Sales Price Ballard / Greenlake

 

Price Per Sq. Foot Ballard / Greenlake