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December Market Update for Seattle Real Estate

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The Market Update report is compiled from statistics from the NWMLS’ InfoSparks using data from City: Seattle and Area 705 Ballard/Greenlake. December is typically the slowest sales month of the year with the least amount of closings, so no surprises there. Almost all categories were down across the board, including active listings, sold homes and months of inventory. Days on market in Seattle continues to creep up, now at 38 days for Seattle and 33 days for Ballard.

Recently, interest rates have been trending down, against market predictions, so that should bring more buyers to the market as we start to ramp up again in January.

As always, please reach out to us if you have any real estate questions. If you’re thinking about selling your home, visit our Home Sellers page to see our services.

November Market Update for Seattle Real Estate

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The Market Update report is compiled from statistics from the NWMLS’ InfoSparks using data from City: Seattle and Area 705 Ballard/Greenlake. In November, the median sales price of a Seattle home continued to level out, dropping only 1%.

  • The amount of homes for sale on the market dropped by about 20%, however that is in line with seasonal norms and market fluctuations as less people list their homes in November and December during the holiday season.
  • Days on market edged up slightly, with Seattle homes now spending about a month on the market before accepting an offer.
  • Due to the lack of new listings coming on the market, there was only 2.1 months of inventory (the amount of time it would take to sell all homes on the market if no new inventory were to come on.)
  • Total closed sales volume was down 20% from the previous month and sharply from November of 2017. In Ballard, it was down by nearly 50%! Not as many homes sold and people pulling back in the holiday season can explain the lack of listings and sales.

Got questions about Seattle real estate? Give us a call at 206-965-8205.

October Market Update for Seattle Real Estate

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The Market Update report is compiled from statistics from the NWMLS’ InfoSparks using data from City: Seattle and Area 705 Ballard/Greenlake. In October, the dropping prices in Seattle’s real estate began to level out, with only a 1% price drop month-over-month. Listings stayed level, suggesting that homes are moving and Sellers may be more cautious. Days on market edged up slightly, but not as much as previous months, and closed sales were up for the first month since July.

Got questions about Seattle real estate? Give us a call at 206-965-8205.

Just Listed: Green Lake Classic Tudor Home!

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Greenlake Tudor

7549 1st Ave NE
Seattle, WA 98105
MLS #1381524
Offered at $1,880,000

Impeccable Green Lake 4 bed 2.75 bath tudor, perfectly located & restored to its full splendor with the finest materials & finishes. Sophisticated & tasteful – custom solid mahogany & cherry cabinetry, trim, shutters & inlays in oak hardwoods. Elegant Arts & Crafts (Batchelder?) fireplace & coved ceilings complete this timeless classic. Chef’s kitchen has Viking range. Easiest commute in Seattle yet serene on a street of gorgeous homes. Gardeners delight, large fenced yard, deck & landscaping.

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Buyers See Relief As Housing Market Shifts

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Houses on a hill

Buyers are seeing relief in the housing market after years of double-digit percentage growth in the west coast housing market. Nationally, the story is that year-over-year home sales dropped by 11.6%.

In west coast markets, RE/MAX agents are reporting home sales are down nearly 20% in August and September, marking a shift from the days of multiple offers and crazy escalations that Seattle, San Francisco and other hot markets have become accustomed to.

Our broker, John Manning, was quoted in the Forbes article. “There’s a healthy correction to the ‘red hot’ sellers’ market last spring with its multiple offers, low inventories, waived contingencies, and frustrated buyers,” Manning notes. “Sellers are realizing that it may take weeks or months to sell their home and to be competitive, they may need to make property improvements, invest in staging and marketing. Buyers are awakening to the fact they have more choice and purchasing power.”

If you’re on the market for a home or interested in selling, we’re happy to give you a free expert consultation. Our team of brokers helps buyers and sellers all over Seattle and the Puget Sound area, from Everett to Tacoma. Give us a call at 206-965-8205 or email hello@remaxonmarket.com to get started.

Just Listed: Ballard Townhouse

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Ballard Townhouse

2452 NW 57th St
Seattle, WA 98107
MLS #: 1373350
Offered at $748,000

Bright & airy townhouse on corner lot in prime Ballard location. Well maintained home with high ceilings, gleaming hardwood floors, balcony & gas fireplace. Two bedrooms upstairs, including master with large walk-in closet. Ground level bedroom has full bath & separate entrance to fully fenced sunny yard & patio. Radiant heat & one car garage plus private driveway parking. Located on pleasant tree-lined street. Walk score of 93! Nearby Ballard Locks, Burke Gilman Trail & downtown Ballard.

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NWMLS InfoSparks September Market Update for Seattle and Ballard

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The Seattle and Ballard Market Update is a monthly update using information from NWMLS’ InfoSparks using data for sold residential and condominium homes in Seattle and the Ballard/Greenlake area. September’s Market update key points include:

  • Median sales price is up slightly
  • Listings available are up 25% from last month. Not quite as much as July to August, but still a significant jump nonetheless
  • Closed sales were down again, a 28% drop from August to September
  • Average days on market jumped to 23 days for Seattle, increasing the months of inventory to 2.4. We haven’t seen that high of a month’s supply since Sep 2013.
  • Total sales volume was down sharply, by almost $200 Million

Have questions about buying or selling, or specific questions on trends in your neighborhood? Shoot us an email at hello@remaxonmarket.com. We’re happy to answer all your questions!

Just Listed: 2 Bed Queen Anne Condo with Pool!

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2253 Living Room

2253 Gilman Dr W. #107
Seattle, WA 98119
MLS #1362203
Offered at $521,000

Peaceful West Queen Anne condo just minutes from downtown. Completely updated in 2016 with a open concept and sunken living room. Designer kitchen, quartz counters, stainless steel appliances, hardwood floors in the dining & kitchen. Just off the patio, enjoy the outdoor pool during the warm summer months and cozy up to the wood burning fireplace in the winter. Washer & dryer in-unit. New custom blinds. Secure parking & entry w/ elevator to condo. Strong HOA and on-site manager. Move in ready!

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Just Listed: North Seattle 2-Level Home

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13770 30th Ave NE Exterior

13770 30th Ave NE
Seattle, WA 98135
MLS #1365765
Offered at $620,000

Ultimate space and privacy on huge almost 1/3 acre usable lot. Easy commute to all points and stone’s throw to neighborhood amenities. Lovingly maintained four bed home with big private deck over massive back yard with incredible possibilities. Home is open, sunny and bright. Features include hardwood floors, second kitchen, washer/dryers on both levels, fireplaces on both levels & large rec room downstairs. 2012 roof, fresh exterior paint, ample parking, patio, fire pit.

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Just Listed: Queen Anne Modern Townhouse

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queen anne modern townhouse just listed

562 Galer St #A
Seattle, WA 98109
Offered at $850,000
MLS #1362182

Spacious, light filled townhouse on quiet street with entry on main floor, gorgeous remodeled kitchen & great flow throughout. Eco-features include induction range with double oven, radiant heat, air conditioning on all floors. Relax in the deep Japanese soaking tub or on the private deck off the huge master bedroom. Excellent location, minutes to SLU, Fremont, Ballard or downtown. Ample closet storage, high efficiency washer/dryer & large garage. No HOA fees.

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