Ewing & Clark - Seattle Real Estate Blog

The Seattle real estate market has been booming month over month, and the trend is expected to continue. With the consequences of global warming affecting climates in other regions, coupled with the rapid expansion of companies like Amazon, Seattle is growing remarkably fast. More and more people continue to flock to the Emerald City, growing the population by more than 1,000 people per week since 2010. 

Ours is also one of the top rated cities to get the greatest return on real estate investment, due to constantly increasing home prices and real estate value.

In September this year, there were slightly fewer residential home listings at 134 as compared with listings in 2016 (143). The average sale price also dropped $55,000 to $993,291 in 2017,

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Maybe you were thinking about buying a home late last year or at the beginning of 2017. The soaring prices and hectic pacing of a seller-friendly market are intimidating. You may have thought that if you wait until the boom of the spring and summer sales was over, the local market would return to normal.

Well, the numbers for the summer are basically in, and Seattle continues to be the hottest real estate market in the United States. If you were waiting for prices to drop off or demand to slow, prepare to be disappointed. Homes comparable to the ones you considered earlier this year are probably priced higher now than they were then. In fact, since June of 2016, the average home price for a single-family home has gone up a staggering 13.4 percent!

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If you are a homeowner, it can be difficult to think of leaving a place that has meant so much to you. But for many of us -- especially those who are a bit younger -- we will sell our current home and purchase a new one some day. Before we sell our home, what are the actions that create the most “bang for our buck”? When prospective buyers feel like they could move in and start cooking in the kitchen and entertaining in the back yard immediately, that feeling will often translate to a sale.

  1. Say Cheese! If your home is in great condition and has desirable amenities, it pays to showcase that fact professionally. Pictures are often the reason that buyers decide to visit your home in the hope of making a purchase and, of course, they could also dissuade
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Seattle luxury real estate, including all of King County, has seen a great deal of increase over the last couple years.  Historically, $1 million was considered luxury real estate in Seattle, Mercer Island, Medina, Hunts Point, etc., but those days have long passed.  In 2015, there were 2,617 luxury homes sold if you use $1 million as the benchmark.  Using that same benchmark, in 2016 there was 3,547 luxury properties sold.  The number of sales drop drastically if you use $2 million (438 in 2015, 556 in 2016), $3 million (132 in 2015 & 172 in 2016), $4 million (54 in both years), and $5 million (32 in 2015, 31 in 2016).

Using $2 million and up as the benchmark for luxury real estate, we see 2017 is off to a strong year.  There were 29 luxury homes sold

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Mercer Island home sales was strong again in 2016.  The Mercer Island real estate saw increase in most of the significant statistics in 2016 over 2015.  The overall number of sales decreased (339 vs 384), but the Mercer Island homes stayed on the market less days (36 days vs 44 days), sold for more money with a higher average overall sales price ($1,473,971 vs $1,365,324) and average price per square foot ($477 vs $429), and Mercer Island real estate sold for more than list price in 2016 (100.3%) after selling just under in 2015 (99.6%).

The increase in Mercer Island real estate statistics are even more impressive when you consider that in 2016 there were 30 Mercer Island waterfront home sales while in 2015 there was 41 waterfront sales.  Since

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Seattle Waterfront

Seattle waterfront homes had a strong year in 2016, continuing where 2015 left off.  Sales of Seattle waterfront homes in Seattle saw year over year increases in most numbers.  Single family waterfront homes, excluding condos and houseboats, saw an increase in average price ($2,175,991 vs 1,896,089), average price per square feet ($588 vs $581), and sales price as compared to list price (99% vs 97%).  Seattle waterfront homes overall sales were down slightly (58 sales vs 61 sales) and the average days on market did increase (97 vs 80).

The highest sale in 2016, was a Laurelhurst watefront east-facing home on Lake Washington on just over 1 acre of land.  It sold for $9,750,000.  The highest sale in 2015, was also in Laurelhurst although the

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Most have seen the Seattle Rental Market headlines “Seattle is 4th Fastest Growing Rental Market in Nation” and “Seattle Rents Now Growing Faster Than in Any Other U.S. City.”   While this overall news has been true in the recent past (meaning earlier this year), the Seattle rental market has seen some signs of relief for renters. For example, Rent Jungle shows the average apartment rent over the prior 6 months in Seattle has actually decreased by $13 (-0.6%). Their data shows the overall decrease is based on one bedroom units decreasing by $20 (-1%) which has more than offset the increase in two bedroom apartments rent: $22 (0.8%). When looking at the Northwest Multiple Listing Service (NWMLS), the number of rented homes and the average rent in King

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King County’s housing market is showing no signs of the typical winter season slowdown, even with inventory at its lowest point in a decade. With nearly 1,500 fewer homes on the market in November than in October, sellers have less competition and are seeing “condensed traffic” at open houses, meaning only buyers who are serious about purchasing homes. As we typically see fewer buyers house searching during the holiday season, buyers may also find a slightly less competitive market in December.

Prices continue to rise, and the median sales price in King County was up to $499,950 in November (compared to $440,000 in October) a 13 percent increase over November 2014, according to statistics from the Northwest Multiple Listing Service (NWMLS). In

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According to a new report by The Seattle Times’ “FYI Guy” Gene Balk, construction trends continue to point to a ‘bigger is better’ mentality in much of the Seattle area. Balk’s data shows that between 2012 and 2014, 1,500 houses were demolished and replaced with much larger homes, 450 of which were approximately triple the square footage of the previous dwelling. Many of Seattle’s predominately residential neighborhoods consist of modestly sized Craftsmans or bungalow-style homes, but home buyers seem to be increasingly buying houses with the intent of tearing them down and starting from scratch or adding significant square footage. The average 1,546-square-foot teardown was replaced by a 3,219-square-foot home. According to Balk’s data, Eastside

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It’s no secret that Seattle’s housing market is one of the strongest in the nation, but what is a little surprising is the growth in the luxury homes sector. According to a recent story by the Puget Sound Business Journal, 537 homes sold for more than $1 million in just four Bellevue ZIP codes alone over the past year, 108 more than 2014 and an increase of 25 percent. 60 homes sold for over $3 million in those areas, up 43 percent over last year.

In Seattle as a whole, 901 homes have sold for $1 million or more so far in 2015, compared to 689 in 2014, according to statistics from the Northwest Multiple Listing Service. Of those sales, more than a quarter (241) occurred in the Central Seattle area comprising the neighborhoods south of the ship canal,

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