seattle real estate: 2021 Seattle Real Estate Recap
- 01/20/22 01:56 PM
2021 saw another impressive year of growth in real estate. The 2020 spike in demand for single-family homes, spurred on by the pandemic, continued in 2021. We continued to see bidding wars in every market, substantial price growth, and equity gains across the country (see figure 1) Locally, Issues with affordability and the slow rebound of condo sales had the price of Seattle real estate rise a modest 4.8% to close out the year, with a median sales price of $760,000. As many companies continued their flexible approach to working from home, it is unsurprising that buyers opted to purchase homes in … (1 comments)
While new listings in King County this June are only down slightly compared to June of 2019 (3145 vs 3326), we continue to feel the effects of coronavirus and associated lockdowns as sharp reductions in new listings from March through May kept overall inventory low. Inventory in King Country sits at just over 50% of what it was for the same month last year, 2490 for June of 2020 vs 4775 for June of 2019.
Lack of selection has not deterred … (4 comments)
seattle real estate: State of the Market - Coronavirus Update
- 03/25/20 08:29 AM
First, I want to take a moment to reach out and find out how you are doing. I hope you are healthy and safe, and if you need anything please don’t hesitate to reach out to me personally. This is uncharted territory for all of us across all industries and we need to be there (but at a distance J) for each other. I’ve spent a lot of time educating myself and thinking about how my clients can help themselves through this event. In light of Governor Inslee’s Stay-at-Home order (effective Wednesday) I had a few thoughts I’d like to share … (2 comments)
seattle real estate: How Much Do I Need for a Down Payment?
- 03/09/20 02:05 PM
One challenge first-time home buyers face is saving enough for a down payment. Often, young home buyers are saddled with tens of thousands of dollars in student-debt and are just beginning to get their careers off the ground. This makes it difficult to save enough for the traditional 20% down payment needed for a 15- or 30-year loan, especially in a market like Seattle where home prices are nearly triple the national average. The good news is that most lenders offer FHA loans that require as little as 3.5% down for a 30-year loan. Are you a veteran? VA loans through the US … (6 comments)
2021 saw another impressive year of growth in real estate. The 2020 spike in demand for single-family homes, spurred on by the pandemic, continued in 2021. We continued to see bidding wars in every market, substantial price growth, and equity gains across the country (see figure 1)
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