February, 2022 RSS Icon
Found 33 entries for February, 2022.

  •          At month end inventory reached a meager 3,092 active listings, down more than 30% from a year ago.
  •          King County had the steepest drop in active listings, shrinking nearly 59% from a year ago.
  •          The market remains virtually sold out.
  •          The imminent rise in interest rates has buyers scrambling to find properties to buy.
  •          No relief in sight by way of increased inventory to meet demand.

KIRKLAND, Washington (February 7, 2022) – A frigid first week of January, surges in coronavirus cases, and depleted inventory were among factors brokers from Northwest Multiple Listing Service cited for last month’s slower than year-ago sales.

In newly released statistics for January, the MLS reported 6,350

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It can seem pretty easy in a market like this just to stick a sign in the yard and have all the offers come in one at a time. But the truth is, it takes more than that. You need a detailed marketing plan that’s going to get your home maximum exposure quickly. You need an agent to help set your house up for success! Yes, photos and things like a 3D Walkthrough are very beneficial for marketing your home. But adding things like Website Syndication, Permanent Smart Flyer, and a Retargeting Ad Campaign are just a few things that will help advertise your home for top dollar!

As your Real Estate Agent, my job is to make your transaction as simple as possible. I will be with you from start to finish. My goal is not just to meet but always

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  •          At month end inventory reached a meager 3,092 active listings, down more than 30% from a year ago.
  •          King County had the steepest drop in active listings, shrinking nearly 59% from a year ago.
  •          The market remains virtually sold out.
  •          The imminent rise in interest rates has buyers scrambling to find properties to buy.
  •          No relief in sight by way of increased inventory to meet demand.

KIRKLAND, Washington (February 7, 2022) – A frigid first week of January, surges in coronavirus cases, and depleted inventory were among factors brokers from Northwest Multiple Listing Service cited for last month’s slower than year-ago sales.

In newly released statistics for January, the MLS reported 6,350

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THE NEW state of real estate in King County goes a little something like this: Homes are about as expensive as they have ever been, and the suburbs are still hot.

The average price for a single-family home in King County is now more than $1 million, $1.055 million to be exact. That’s a 20.1% increase from the 2020 average of $878,000.

Snohomish and Pierce counties saw similar percentage gains year over year. The average price of a single-family home in Snohomish County rose from $600,000 in 2020 to $741,000 last year, a 23.5% increase. Pierce County saw a 19.3% increase from $467,000 in 2020 to $577,000 last year.

 

 

Fueled in part by extremely low inventory, population growth and an influx of high-paying tech jobs in recent years, all

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                  KEEP YOUR MONEY IN THE BANK

                                             OR

                           INVEST IN REAL ESTATE 

With it being a seller's market right now, buyers often consider keeping their money in the bank, preferring to hold cash, but is that the wise thing to do?  I get it, it's a tough market right now, it may be nerve-wracking to deal with putting an offer on that home you have dreamt about and very likely deal with buyers fatigue. However, Investing in real estate may be more beneficial than you know in the long run. Yahoo! Finance makes a good point

 

“You need to look at money as a tool and use money to build wealth.”

 

To that end, money you put into a bank does not build you

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THE NEW state of real estate in King County goes a little something like this: Homes are about as expensive as they have ever been, and the suburbs are still hot.

The average price for a single-family home in King County is now more than $1 million, $1.055 million to be exact. That’s a 20.1% increase from the 2020 average of $878,000.

Snohomish and Pierce counties saw similar percentage gains year over year. The average price of a single-family home in Snohomish County rose from $600,000 in 2020 to $741,000 last year, a 23.5% increase. Pierce County saw a 19.3% increase from $467,000 in 2020 to $577,000 last year.

Fueled in part by extremely low inventory, population growth and an influx of high-paying tech jobs in recent years, all three

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Just not so long ago, I had blogged about interest rates on the rise. Well, they just went up again!! Just last year, mortgage rates were at an all-time low. In fact, "Mortgage rates have not been this high since the start of the pandemic in early 2020"  per CNBC. Clearly, 2022 is going to be different. In other words, if you had your eye on a home but hadn't locked in a rate just yet, that home just got a lot more expensive. CNBC  gives us more details:

 

The average rate on the popular 30-year mortgage hit 3.64% on Monday morning, after rising sharply last week, according to Mortgage News Daily. On Friday, the rate was 3.5%, and last Monday it was 3.29%.

 

For a median-priced home, currently about $350,000, buyers putting

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Housing Market Update: Hottest January on Record

Pending sales posted their first annual decline since June 2020, stalled due to a lack of supply. Early spring has the potential to be even hotter and more volatile: stock-market declines, mortgage-rate increases, and mounting affordability pressures are escalating the sense of urgency for buyers and as a result the limited inventory of homes are seeing their values skyrocket at unheard of rates. 

While dwindling housing inventory continues to be a source of frustration across the country, Washington has been hit harder by the housing crisis than any other state, according to a new study by the Washington State Department of Commerce.

Washington ranks last among 50 states in the ratio

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Housing Market Update: Hottest January on Record

Pending sales posted their first annual decline since June 2020, stalled due to a lack of supply. Early spring has the potential to be even hotter and more volatile: stock-market declines, mortgage-rate increases, and mounting affordability pressures are escalating the sense of urgency for buyers and as a result the limited inventory of homes are seeing their values skyrocket at unheard of rates.

While dwindling housing inventory continues to be a source of frustration across the country, Washington has been hit harder by the housing crisis than any other state, according to a new study by the Washington State Department of Commerce.

Washington ranks last among 50 states in the ratio

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             In the dead of winter, the Eastlake Sammamish (98074) housing market is heating up by the day.  In January we observed 8 sales logged on the NWMLS and LITERALLY EVERYTHING went over this month!  One property went for 127.74% of the asking price, and average price per square foot appreciated to $686.78 for the month.   

               Please feel free to check out my 2021 Eastlake Sammamish Market Recap to see how your neighborhood specifically compared.  As always, I remain 1 call/ text away at 425-223-0098 if you would like to learn more or capitalize on this market. 

 

The least expensive home sold in January: $875,000 located at 1021 211th Pl NE (Inglewood neighborhood).  This was a much smaller home measuring in at

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