September Market Snap 2019

METRO SEATTLE Real Estate Market Update

 

August 2019 statistics with % change from July 2019
Sold Listings: 726    down  -6%
Total Inventory: 1,203   down  -7%
Average Sales Price: $864,000    down -3%
Average Days on Market: 35   up +35%

Knowledge, communication, and partnership are key factors to a successful negotiation in Seattle’s market. In general, sellers have endured significantly different market conditions in the past, so their experiences are heavily influencing how they approach their real estate decisions today. Many buyers, on the other hand, have specific objectives in achieving their real estate dream, not motivated by past experiences. Your goals are the priority. Let’s get to work.

Sincerely,
Leah Pham

Source: Northwest Multiple Listing Service – METRO SEATTLE RESIDENTIAL

Posted on November 6, 2019 at 7:13 pm
Leah Pham | Category: Market News, Real Estate

August Market Snap

METRO SEATTLE Real Estate Market Update

August 2019 statistics with % change from July 2019
Sold Listings: 726     -6%
Total Inventory: 1,203     -7%
Average Sales Price: $864,000      -3%
Average Days on Market: 35     +35%

Knowledge, communication, and partnership are key factors to a successful negotiation in Seattle’s market. In general, sellers have endured significantly different market conditions in the past, so their experiences are heavily influencing how they approach their real estate decisions today. Many buyers, on the other hand, have specific objectives in achieving their real estate dream, not motivated by past experiences. Your goals are the priority. Let’s get to work.

Sincerely,
LEAH
Source: Northwest Multiple Listing Service – METRO SEATTLE RESIDENTIAL

Posted on September 24, 2019 at 2:25 am
Leah Pham | Category: Market News, Real Estate

End of July 2019 Market Snap

METRO SEATTLE Real Estate Market Update

July 2019 statistics with % change from June 2019
Sold Listings: 756     -1%
Total Inventory: 1,296     -10%
Average Sales Price: $892,000      
Average Days on Market: 26     +13%

Buyers have very specific expectations on what they are looking for, a combination of condition, location/lifestyle and price are all required.

Sellers’ objectives have centered on price and they are beginning to understand that buyers’ definition of value is much more. The complexity between buyers and sellers is the result of different experiences and expectations.

With online data, media coverage, family & friends all providing different perspectives on the market, buyers and sellers are succeeding by utilizing experienced professionals to sift through the voluminous data available.

Knowledge, communication and partnership are critical components of today’s real estate market. I know your goals are unique. Let’s start a conversation.

Sincerely,
LEAH

Posted on September 20, 2019 at 3:26 pm
Leah Pham | Category: Market News, Real Estate

Q2 2019 Seattle Metro Market Update

Q2 Seattle metro real estate numbers closed where the trends had suggested. While available inventory continues to tic upwards, average sales price declined 7%. This is further evidence that our market continues to moderate from the frenzied pace of the past 5+ years.

These are just a few highlights included on the full Quarterly Report.

Posted on August 19, 2019 at 3:58 am
Leah Pham | Category: Market News, Real Estate

End of June 2019 Metro Seattle Stats

METRO SEATTLE Real Estate Market Update

July 2019 statistics with % change from June 2019
Sold Listings: 756 -1%
Total Inventory: 1,296 -10%
Average Sales Price: $892,000 —
Average Days on Market: 26 +13%

The complexity between buyers and sellers is the result of different experiences and expectations. With online data, media coverage, family & friends all providing different perspectives on the market, buyers and sellers are succeeding by utilizing experienced professionals to sift through the voluminous data available. Buyers have very specific expectations on what they are looking for, a combination of condition, location/lifestyle and price are all required. Sellers’ objectives have centered on price and they are beginning to understand that buyers’ definition of value is much more.

Knowledge, communication and partnership are critical components of today’s real estate market. I know your goals are unique I know your goals are unique. Let’s start a conversation.

Sincerely,
leah

Posted on August 17, 2019 at 12:51 am
Leah Pham | Category: Market News, Real Estate

May 2019 Metro Seattle Market Update


METRO SEATTLE Real Estate Market Update

May 2019 statistics with % change from April 2019
Sold Listings: 797 +7%
Total Inventory: 1,378 +30%
Average Sales Price: $915,000 +1%
Average Days on Market: 25 -11%

Metro Seattle real estate data suggests we may see a shift from a seller dominated market to a buyer supported position. An experienced local expert will assist you in navigating the shifting factors in today’s market. I welcome the opportunity to leverage data for your success.

Buyers will benefit from inventory growth
In May, Metro Seattle’s real estate market offered buyers more opportunity for success. New listings increased 24% while pending sales increased a modest 6%. What does this tell us? With more inventory available, buyers have more options. It has been years since buyers have had an equal position in the market. The key is understanding local statistics and trends in order to make an informed decision. I welcome the challenge to create a solid plan for your success.

Posted on June 19, 2019 at 5:26 pm
Leah Pham | Category: Market News, Real Estate

Q1 2019 Metro Seattle Housing Report

Q1 data is traditionally a subtle indicator of what we might
expect for the spring selling season. However, February’s
unprecedented snow and weather conditions brought
the greater Seattle and Eastside area to a standstill for
the better part of the month. Given this unique quarter, we
find ourselves looking at the performance from the last
30 days to determine what we may expect this second
quarter.
In March, Metro Seattle saw new listings increase 71%
from the previous month and at the same time pending
sales increased by 80%. Sales outpacing new inventory
confirms that buyer demand remains strong. While
average sales price was 13% higher than February, the
90-day price trend is down 3% during the same period a
year ago. Although multiple offers have returned, many
of these offers were near the asking price. This is another
indicator that Seattle’s home prices have and continue
to stabilize. Finally, mortgage rates decreased in Q1 and
continue to show signs of this trend.
Most media reports are only looking at a narrow time
period and rarely provide the full perspective of the
market. Buyers and Sellers are well advised to seek the
advice of an experienced real estate professional to gain
the specifics that will serve their objectives. I welcome the
opportunity to provide you with facts that will position you
to succeed in today’s market.

Posted on April 23, 2019 at 7:58 pm
Leah Pham | Category: Market News, Real Estate

March 2019 Market Update


METRO SEATTLE Real Estate Market Update
NWMLS Data: Q1 2019 statistics with % change from Q1 2018
Sold Listings: 1,341 -3%
Available Inventory: 2,351 +131%
Average Sales Price: $845,667 -3%
Average Days on Market: 48 +127%

Metro Seattle Q1 2018 vs Q1 2019
In March, Metro Seattle saw new listings increase 71% from the previous month and at the same time pending sales increased by 80%. Sales outpacing new inventory confirms that buyer demand remains strong. While average sales price was 13% higher than February, the 90-day price trend is down 3% during the same period a year ago. These are indicators that Seattle’s home prices have and continue to stabilize. If a move is in your future, I welcome the opportunity to start discussing your needs and how to succeed in today’s market.

Posted on April 18, 2019 at 1:59 am
Leah Pham | Category: Market News, Real Estate, Uncategorized

2018 in Review: Annual Report

Posted on February 9, 2019 at 7:02 pm
Leah Pham | Category: Market News, Real Estate

October 2018 Market Snapshot

Can a balanced market be on the horizon?

After 90 days of residential inventory increases in the Metro Seattle area, we are beginning to see signs that a balanced market may be closer than we thought. While median sales price in October dropped a modest 2%, most Seattle neighborhoods have seen more aggressive reductions in August and September. October is the first month we have seen sales numbers increase and inventory numbers decrease at the same time. This may be an indication that prices and inventory are stabilizing. If you have questions about this quickly adapting market and the details that could benefit you, I welcome an opportunity to discuss.

METRO SEATTLE Real Estate Market Update
Metro Seattle residential inventory is DOWN 5% following 90 days of significant increases.

NWMLS Data: OCTOBER 2018 statistics with % change from SEPTEMBER 2018
MEDIAN SALES PRICE: $760,000 -2%
NUMBER OF HOMES FOR SALE: 1303 -5%
NUMBER OF SOLD LISTINGS: 606 +18%
NUMBER OF PENDING SALES: 603 +6%
NUMBER OF NEW LISTINGS: 862 -25%
AVERAGE DAYS ON MARKET: 25 +9%

Posted on November 16, 2018 at 8:23 pm
Leah Pham | Category: Market News, Real Estate