All Blog Entries by Casey Losh

There are currently 37 blog entries published by Casey Losh.

It appears as if the Seattle real estate market has no indication of slowing down, after opening 2018 hotter than before. In King County, 2017 featured the highest home prices in history and prices surged another 20 percent in January this year compared with the same month in 2017. It’s now been 15 months straight that Seattle has led the nation as the hottest housing market.

The heat in the local housing market certainly shows in the numbers for January’s residential home sales. In 2017, a total of 281 single-family residential homes were listed. Although 30 fewer homes were listed in January 2018, the average sale price was $789,000 - more than $80,000 higher than the average sale price in January last year: $706,500. The top home price in

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For 14 straight months, Seattle has dominated the national real estate market as the hottest in the country. There are many factors that impact this rating, from average home prices to the level of demand in the market. Although Seattle remains a popular and expensive place for potential homeowners, there are some signs that this current number-one position could soon be claimed by another city, perhaps Las Vegas, Nevada, which currently holds the number-two spot.

Single-family homes around the Seattle area are in incredibly high demand. In fact, that demand extends well beyond the city proper, with King, Snohomish and Pierce counties all experiencing substantial price boosts. Looking at the average selling price of a home in any of these three

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Seattle's Mayor Jenny Durkan announced this December a commitment of $100 million to build new (and support existing) affordable housing in the Seattle area. “Today, we are making a huge down payment on a more affordable future,” the mayor said in a press conference announcing the decision.

This announcement follows up and doubles down on investments made in previous years, making it the largest one-year investment the Office of Housing has ever put into affordable housing. With Seattle’s population continuing to grow at record rates and home prices are going through the roof, the investment could not have come at a better time.

Where Does the Money Come from and Where Will It Go?

A large portion of the $100 million investment will come from

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Seattle has been ranked the hottest housing market of the year 2017, after 16 months in a row at the top of the S&P CoreLogic Case Shiller Home Price 20-City Composite Index. Home prices continue to stay at peak levels, and since inventory is quite low, the market for buying a home is incredibly competitive.

According to Redfin, over 50 percent of the homes sold by the company last year resulted in bidding wars, showing just how deeply competitive 2017 was for local real estate. And the competition isn’t just between local buyers; international investors, particularly from China, are very attracted to Seattle real estate opportunities. However, foreign investment in the Seattle real estate market has dwindled since late last summer.

Residential

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The Seattle real estate market shows no signs of slowing its hot streak of growth due to high demand, limited inventory and significant development projects that are snapped up almost immediately after completion. We are at the top of the list of major U.S. cities with the highest home price increases:

“The Seattle metro right now we are seeing it’s the second fastest moving market among the large markets in the U.S. with almost 12 percent annual home value appreciation,” said Zillow Chief Economist Svenja Guddell, after the company issued a new market report.


Average sale prices are distinctly higher this year for both residential home sales, exemplifying the local market demand.

In November 2017, residential home sales were more than double

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It seems like every week, a new article or report comes out blaming the Millennial generation for the decline of an industry. Millennials have been blamed for falling birth and marriage rates, the financial woes of casual chain restaurants like Applebee's and TGIFridays and even droughts in California because of their love for avocados and almond milk.

Many economists are also quick to point out that far fewer Millennials are buying homes than members of previous generations did at their age. While pundits may like to claim that this is because Millennials hate responsibility, this trend has more to it than a simple desire to avoid needing to maintain a house and yard. In fact, as many as 90 percent of Millennials look at home ownership as a major

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Prices for homes across the United States have been on the rise throughout 2017. Most markets are seeing growth in demand and an increase in average selling prices. Washington State, and more specifically, the Seattle area, has far exceeded the growth of other real estate markets. Prices around Seattle are on the rise, and demand doesn't show any sign of tapering off in the near future.

The average selling price of a single family home in the Seattle area has gone up 13.5 percent in only a year. When you compare that with the national average increase in home price, which is 5.9 percent, it's easy to see how Seattle's growth outpaces most other places. Looking nearby to Portland, Oregon, which currently holds the second place for real estate growth

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Seattle has been leading the nation with the hottest real estate market for a full year now, with no signs of slowing down. This trend is expected to continue into 2018, according to an emerging trends report from ULI.

The steady increase in home prices has led to a growth that is double San Francisco’s, although the California hub’s home values are still much greater than ours. That being said, Seattle’s home values increased by more than 12 percent in 2017.

Last month, residential home sales were generally close to the October 2016 statistics, with only 20 fewer homes listed last month as compared with October last year. However, the average sale price for single family residential homes increased by more than $100,000 this year to $793,000

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If you've been in the home-buying market in recent months, you're well aware of how competitive it is in Seattle right now. Homes are selling fast, often for above asking price. The average homeowner and would-be buyer can face struggles trying to buy. International investors have been scooping up as much real estate as possible, making it harder for owner-occupants to complete a purchase.

Investors often have several advantages coming to the table. One of the biggest is the potential to purchase a home via a cash offer. There are no contingencies, such as appraisals and inspections. For sellers, that can make working with an investor more attractive. After all, the concern of the sale falling through due to appraisal or inspection issues becomes

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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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