South King Co Market Trends • April 12, 2018

South King County Market Trends – Q1 2018

by Jen Bowman

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 101%, indicating that multiple offers were the norm. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 12% year-over-year.

South King County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 78% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in south King County; please contact me if you would like further explanation of how the latest trends relate to you.

Eastside Quarterly Market Trends • April 12, 2018

Eastside Quarterly Market Trends – Q1 2018

by Jen Bowman

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 54% increase in new listings in March compared to February. That increase was topped by a 58% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 14% year-over-year.

Eastside real estate has a very high premium due to close-in commute times and desirable neighborhoods. In fact, the median price in March was $927,000! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends on the Eastside area; please contact me if you would like further explanation of how the latest trends relate to you.

Seattle Metro Quarterly Market Trends • April 12, 2018

Seattle Metro Quarterly Market Trends – Q1 2018

by Jen Bowman

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 69% increase in new listings in March compared to February. That increase was followed by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 105%, indicating that multiple offers were the norm. We ended the quarter with 0.6 months of inventory based on pending sales. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 16% year-over-year.

Seattle Metro real estate has a very high premium due to close-in commute times and vibrant neighborhoods. In fact, the median price in March was $800,000, up 5% from the month prior! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in the Seattle Metro area; please contact me if you would like further explanation of how the latest trends relate to you.

North King Co Quarterly Market Trends • April 12, 2018

North King County Quarterly Market Trends – Q1 2018

by Jen Bowman

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 55% increase in new listings in March compared to February. That increase was followed by a 41% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 106%, indicating that multiple offers were the norm. We ended the quarter with 0.6 months of inventory based on pending sales. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 14% year-over-year.

North King County real estate has a very high premium due to close-in commute times and desirable neighborhoods. In fact, the median price in March was $808,000, up 4% from the month prior! Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

South Snohomish Co Quarterly Market Trends • April 12, 2018

South Snohomish County Quarterly Market Trends – Q1 2018

by Jen Bowman

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.5 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 15% year-over-year.

South Snohomish County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 47% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

North Snohomish Co Quarterly Market Trends • April 12, 2018

North Snohomish County Quarterly Market Trends – Q1 2018

by Jen Bowman

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 54% increase in new listings in March compared to February. That increase was matched by a 50% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio was 100%, and average days on market was 35 days. We ended the quarter with 0.7 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 12% year-over-year.

North Snohomish County is one of the most affordable markets in the area. In fact, the median price in March was 28% higher in south Snohomish County. Buyers are migrating to the area, especially if they don’t have to commute into the city. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in north Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Uncategorized • March 17, 2018

An Irish Blessing ~ Happy St. Patrick’s Day!

by Jen Bowman

Real Estate News • March 7, 2018

Cost vs Value: Front Door

by Jen Bowman

I am commonly asked which improvements sellers should make to get the greatest return on their home sale. Every year The Remodeling 2018 Cost vs. Value Report (www.costvsvalue.com) compiles all the information and analyzes the estimated percentage return on home improvements in each region. Getting a home prepared for market requires a keen eye and great resources. To access the entire Cost vs. Value report please visit www.costvsvalue.com and follow the steps to locate the Seattle area report.

Also, I have a great list of reputable contractors from HVAC to plumbing to roofing who are licensed and bonded in the State of Washington. Please call on me whenever you need a solid recommendation. I am happy to help whether you are getting your home ready for market or just want to find a good window washer now that the sun is starting to shine a little more.

Complete data from the Remodeling 2018 Cost vs. Value Report can be downloaded free at www.costvsvalue.com

Lynnwood • Uncategorized • March 7, 2018

SAVE THE DATE! Shred Day @ Windermere North in Lynnwood!

by Jen Bowman

North Snohomish Co Quarterly Market Trends • South Snohomish Co Quarterly Market Trends • March 7, 2018

The Cost of Waiting – Snohomish County

by Jen Bowman