September 17, 2019

Ballard, Blue Ridge, Green Lake, Fremont, Loyal Heights, North Beach, Phinney Ridge and Sunset Hill Real Estate Activity By Quarter

Market statistics, by quarter, for the Ballard, Blue Ridge, Green Lake, Fremont, Loyal Heights, North Beach, Phinney Ridge and Sunset Hill neighborhoods.
                               HOW IS THE MARKET?
The general approach to market analysis translates to the following:
— It is a BUYER’S market when there is 6 or more months of inventory.
— It is a BALANCED market when there is 3-6 months of inventory.
— It is a SELLER’S market when there are 0-3 months of inventory.
2016 Year End Area 705
705-3rd-2016
705 - Ballard
1st Q 2016 - 705
half 705
Area 705 3rd Q 2015

Area 705 2nd Q 2015

1st Q 2015 705
Year End - 705

3rd Q 705

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YE 2013 -705
705 3rd

2ndt Q 705

1st Q 705

YE 2012 - 705

How is the market?

How is the market?

Inventory on the market.

Inentory on the market.

How is the market?

How is the market?


Inglewood, Kenmore,Lake Forest Park and Sheridan Beach Real Estate Activities By Quarter

The market statistics, by quarter, for the Inglewood, Kenmore, Lake Forest Park and Sheridan Beach neighborhood.
   HOW IS THE MARKET?
The general approach to market analysis translates to the following:
— It is a BUYER’S market when there is 6 or more months of inventory.
— It is a BALANCED market when there is 3-6 months of inventory.
–It is a SELLER’S market when there are 0-3 months of inventory.
2016 Year End Area 720
720-3rd-2016
720 - Lake Forest Park
1st Q 2016 - 720
half 720
Area 720 3rd Q 2015
Area 720 2nd Q 2015
1st Q 2015 720
Year End - 720
3rd Q 720

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YE 2013 -720
720 3rd

2ndt Q 720

1st Q 720

YE 2012 - 720

We are back to a SELLER’S market . . .

How is the market?

Inventory on the market.

 

 

Inventory on the market.

How is the market?

How is the market?

Laurelhurst, Ravenna, Sand Point, View Ridge, Wedgwood, Windermere and NE Seattle Real Estate Activity By Quarter

The real estate market statistics, by quarter, for the Inverness, Laurelhurst, Ravenna, Sand Point, View Ridge, Wedgwood, Windermere and northeast Seattle neighborhoods.
HOW IS THE MARKET?
The general approach to market analysis translates to the following:
— It is a BUYER’S market when there is 6 or more months of inventory.
— It is a BALANCED market when there is 3-6 months of inventory.
— It is a SELLER’S market when there are 0-3 months of inventory.
2016 Year End Area 710
710-3rd-2016
710 - North Seattle
1st Q 2016 - 710
half 710
Area 710 3rd Q 2015
Area 710 2nd Q 2015

1st Q 2015 710
Year End - 710
3rd Q 710

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YE 2013 -710
710 3rd

2ndt Q 710

1st Q 710

YE 2012 - 710

We are back to a SELLER’S market . . .

How is the market?

How is the market?

Inventory on the market.

Inventory on the market.

How is the market?

How is the market?How is the market?

Broadmoor, Capitol Hill, Leschi, Madison Park, Madrona and Montlake Real Estate Activity By Quarter

The  market statistics, by quarter, for the Broadmoor, Capitol Hill, Leschi, Madison Park, Madrona and Montlake neighborhoods.
HOW IS THE MARKET?
The general approach to market analysis translates to the following:
— It is a BUYER’S market when there is 6 or more months of inventory.
— It is a BALANCED market when there is 3-6 months of inventory.
— It is a SELLER’S market when there are 0-3 months of inventory.
2016 Year End Area 390
390-3rd-2016
390 - Capitol Hill
1st Q 2016 - 390
half 390
Area 390 3rd Q 2015

Area 390 2nd Q 2015

1st Q 2015 390
Year End - 390

3rd Q 390

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YE 2013 -390
390 3rd

2ndt Q 390

1st Q 390

YE 2012 - 390

We are back to a SELLER’S market . . . .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Inventory on the market

Inventory on the market.

How is the market?

Explanation as to why there are no statistics.

How is the market?

Burien and Normandy Park Real Estate Activity By Quarter

The  market statistics, by quarter, for the Normandy Park and Burien neighborhoods.
                                HOW IS THE MARKET?
The general approach to market analysis translates to the following:
— It is a BUYER’S market when there is 6 or more months of inventory.
— It is a BALANCED market when there is 3-6 months of inventory.
— It is a SELLER’S market when there are 0-3 months of inventory.
2016 Year End Area 130
130-3rd-2016
130 - Burien
1st Q 2016 - 130
2015 - 130
Area 130 3rd Q 2015

Area 130 2nd Q 2015
1st Q 2015 130

 4 Q 2014 - 130

3rd Q 130

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YE 2013 -130
130 3rd

2nd - 130

1st Q 130

YE 2012 - 130

We are back to a SELLER’S market . . . .

How is the market?

 

How is the market?

 

Inventory on the market.

Inventory on the market.

How is the market?

How is the market?

How is the market?

West Seattle Real Estate Activity By Quarter

The real estate market statistics, by quarter, for the West Seattle neighborhood.
                                   HOW IS THE MARKET?
The general approach to market analysis translates to the following:
— It is a BUYER’S market when there is 6 or more months of inventory.
— It is a BALANCED market when there is 3-6 months of inventory.
— It is a SELLER’S market when there are 0-3 months of inventory.
2016 Year End Area 140
140-3rd-2016
140 - West Seattle
1st Q 2016 - 140
Half 140

Area 140 3rd Q 2015
Area 140 2nd Q 2015
1st Q 2015 140

Year End - 140

3rd Q 140

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YE 2013 -140
140 3rd

2ndt Q 140 1st Q 140

YE 2012 - 140

We are back to a SELLER’S market . . . .

How is the market?

Inventory on the market.

Inventory on the market.

How is the market?

How is the market?

How is the market?

SAY ‘YES’ TO CRS . . . Certified Residential Specialist

Buying or selling a home can seem like an overwhelming task. But the right REALTOR® can make the process easier — and more profitable.  A Certified Residential Specialist (CRS), with years of experience and success, will help you make smart decisions in a fast-paced, complex and competitive market.

To receive the CRS Designation, REALTORS® must demonstrate outstanding professional achievements — including high-volume sales — and pursue advanced training in areas such as finance, marketing and technology. We must also maintain membership in the NATIONAL ASSOCIATION OF REALTORS® and abide by its Code of Ethics.

When the time is right for your move please contact me . . . I have earned the CRS designation!

4 Questions You Need to Answer Today

1. Why are the prices of homes dropping substantially in today’s market?
Prices are dropping because of the anomaly that occurred during the market boom. Professor Karl Case of Wellesley College and contributing author of the Case-Schiller Home Prices Indices, a quarterly nominal housing price report, looked closely at the appreciation of median home value over five-year increments dating back to 1980 (see chart: “Appreciation Went Into Overdrive” http://tinyurl.com/yay4xaj). His research shows that home values appreciated 26.5 percent on average for the 20-year period from 1980 through 2000. 

In the six years that followed, average appreciation was 89 percent. Prices are now adjusting to the inconsistent and unsustainable growth that occurred during the first six years of this decade. In other words, the market is not on the decline. Rather, it is moving toward stability, which will mean healthier markets in the future. 

2. How do I determine the direction of prices in my market?
Although there are no steadfast rules to determine future pricing, months’ supply of inventory (total inventory divided by the number of houses sold per month) is a great guideline. Review the STATISTICS link on the blog. A normalized or balanced market has five to six months of inventory. If 100 houses sell a month, there should be 500 to 600 houses in active inventory.  

Based on this principle, if you have one to two months of inventory, double-digit appreciation is likely to occur. Lack of supply will cause potential buyers to clamor over the few homes that are for sale, which in turn drives prices higher. On the other end of the spectrum—where many markets are right now—there is a seven- to eight-month inventory. With this abundance of supply, there simply aren’t enough buyers to support the number of homes for sale.

Current economic conditions will also have an effect on the direction of pricing, as pricing is directly connected to average income. Traditionally, the national average sales price of a home is two-and-a-half times the average household income. Through the boom years of 2004, 2005, and even into 2006, that ratio was distorted, reaching up to four times the average income. We’re now getting much closer to the 2.5 ratio. However, with unemployment rising, prices may have to drop further to stay in line with the average American family income.

3. Why should I buy now?
Any investment consideration, whether it be real estate, gold, or fine art, follows a predictable cycle with nine stages (see chart: “The Stages of a Market Cycle” http://tinyurl.com/yay4xaj). Let’s start with optimism, the period in which many people are excited about buying a home. When the market is strong, people’s purchases quickly increase in value, which leads to euphoria, which can lead to rash decision making. 

 From euphoria starts a downward cycle. As prices start to fall, buyers go into denial, with statements such as “I’ll be in the house a few years, so this won’t be a challenge.” After denial comes fear, as prices continue to fall, followed by panic, despondency, and depression. After depression comes hope and then optimism (back to stage one).

The point of maximum risk for any investment is during the euphoria stage. The point of maximum opportunity is at the lowest point, between despondency and depression. That’s exactly where we are in many real estate markets today. Clients who are motivated and qualified to buy will be able to look at the market cycle chart and understand why now is the best time to invest in real estate.

4. Is homeownership really a good way to build wealth?
According to NAR, home values appreciate 4.5 percent annually on average. That’s a great return; however, very few buyers pay in cash. Most try to put as little cash down as possible. The amount of cash buyers put into their home determines their return on equity, which is the total return on the cash they initially invested. So the return on equity can be astronomical. It’s easy to see that real estate isn’t just a good investment; it’s a great investment.