King County, WA Real Estate News

By J. Casey Losh, CEO
(Ewing and Clark)
Residential properties across the NWMLS (26 counties) sold for 107.8% over asking price in April.  King County is one of two counties where inventory is down from a year ago.  This is especially true for condos where inventory is down 35%.  Thus King County prices are up nearly 20% for single family homes and 12.6% for condos  Median price in King County for a house is now nearly $1 million ($995,000) and condos are $518,000.  Nevertheless, inventory across the NWMLS is up slightly and with an uptick in interest rates, some think the real estate market will start to calm.  But, so far, the real estate market continues to be brisk and prices have continued to increase. Closed Seattle home transactions are down to 836 sales compared to 1,022 the previous April, Nevertheless, the average p...
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By J. Casey Losh, CEO
(Ewing and Clark)
Luxury real estate market is extremely hot.   In the first quarter of the previous year there were 371 sales over $2 million in King County.  In the first quarter of 2022, there were 513 luxury home sales over $2 million.  Not only were there more sales, the average list price of those luxury homes was nearly $2.78 million, BUT the average sales price was $3.04 million.  So the average luxury real estate listing went for nearly 9.5% over asking.  The highest sale price in the first quarter of 2022 was only $12.75 million compared to $18.15 million for the same time in the previous year.  Thus, the 2022 averages were not distorted by only a few large sales.  The Eastside continues to dominate the luxury "home" market.  8 out of 10 of the top sales in 2022 were in Bellevue, Medina, and Cl...
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By Kevin Meyer, Eastside and Greater Seattle Homes & Real Estate
(Kevin Meyer Group - John L Scott Real Estate)
Just Listed! Impressive Squak Mountain Home  Click here to access all photos. *Just Listed*    With gorgeous Cougar, Squak and Tiger Mountains just a stone’s throw away, this impressive home is a rare blend of incredible location, charming style and smart updates. Step inside and you can’t help but be captivated by the welcoming warmth of every handsome detail: a rustic wood-beam mantle, wood burning fireplace, charming brick accents, delightful tile work. There is so much personality throughout! The kitchen is a highlight, remodeled in 2019 with a cavernous stainless steel refrigerator/freezer, pro-style range, and beautiful finishes worth savoring. The expansive kitchen peninsula is the ultimate family gathering spot where the good times are sure to flow.   Outside, the generously siz...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
5 Tips for Real Estate Business Planning Success Business planning is top of mind for most business leaders this time of year. Lofty goals, dedication and drive are commonplace, but what is going to get you to a new level of success is not looking forward, it is looking backward and analyzing what has room for improvement. In all my years of both selling real estate and now as a coach and trainer, there are common challenges that always doom a business plan and sabotages goals. Agents aren't consistent, they aren't leveraging their time, they don't track their money, they don't connect, and don't take enough time off. So before you look forward, I encourage you to take a good hard look at your 2021 and ask yourself the following questions: Are You Consistent Enough? Meaning, are you fo...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Keeping It Simple in 2022 Every year when the first of January rolls around, everyone comes up with this long list of things and goals they want to get done. But this year, I want you to start with one thing. Just one thing. Don't get distracted by the fog of resolutions and checklists of goals. Pick out one goal or task to achieve this year. It could be a thing that is a source of pain. It could be a source of great joy. It could remove stress for you. Just really think about one thing that, if you were to complete this year, would positively impact everything else. Start there. If you're successful, fantastic! Now you can pick a new one thing and continue on. I think we put a lot of pressure on ourselves. We sit down and create these great big, extravagant lists. It looks perfect in ...
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By J. Casey Losh, CEO
(Ewing and Clark)
The holiday season is historically slow time in the Seattle real estate market.  During COVID the last two years, the real estate market has not been as affected by  holidays as other years.  This November and last November are nearly identical in the number of transactions.  Both years the number of pending sales were nearly 8,600 and the number of closes sales were within 1.14% (8,976 in 2021 vs 8,875 in 2020). Only 6,455 listings were added this November which was well below the pending sales of nearly 8,600.  This continues the downward trend on inventory in the NWMLS.  Real estate inventory continues to be historically low.   For example, King County inventory is down over 10,000 listings compared to 2010 (see chart). King County Active Listings as of:   Nov 2021   1,149 Active Lis...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
2022 Real Estate Predictions - Be Brave With Your Opinion! The last two years have had an unprecedented effect on the economy, on the way we interact socially, on the way we shop, on education, and of course, on the real estate market. More than ever, your clients need to hear your voice when it comes to the real estate market and what they can expect in the coming year. Many real estate agents are not comfortable looking into the future and making predictions. However, making a prediction is nothing more than making your best guess based on the information you have at the moment. You make predictions all the time; you just may not refer to them as predictions. For example, let's say you have a listing that is priced in the middle of your market. It gets 15 offers and the price escalat...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
The Real Estate Numbers You Should Track My favorite thing about numbers is that they do not lie. If I look at an agent's business, their numbers will give a very clear indication of what's really going on. Not only do these numbers define past success, they also predict your future. If you don't know your numbers, you are running blind. When you track your numbers, you have the best possible road-map to success. What numbers am I talking about? There are lots of metrics, but the most important ones to consistently track are these: Gross Commission Income & Activity Let's start with the obvious one: tracking your monthly income. You should look at both the money and the activity. You may notice some interesting trends, including your most efficient client load, your burn-out point, and...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Your Listing Checklist: Naming and Claiming What You Do In October, The Lones Group hosted our listing presentation class for real estate agents - Stop Losing Listings You Should Have Won. In that class, we offered 15 spots to those agents who wanted to revamp their listing presentation and be part of a case study. Well, those spots got taken very quickly. That case study is currently running and we are in the process of individually redoing each agent's listing presentation materials, customizing each to what they each offer a seller when they list their home. One of the first things we asked each of our case study participants to do is fill out an intake form which included checking off the services they did for each listing and checking those services they only did when the listing ...
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By Courtney Cooper, 206-850-8841
(Cooper | Cartwright)
Looking for an excellent new lifestyle or to elevate your home in general?  This is a fantastic floating home!  Elevate beyond your expectations in Portage Bay. Starting from the rooftop deck with two seating areas to soak up the view & fire pit to enjoy year round. Custom extra wide spiral staircase leads you to the covered deck off the main floor living area. Open concept for dining, cooking, and entertaining. Stunning ethanol fireplace, sleek kitchen w/ two eat-in areas, Wolf gas range, & Dekton countertops. Travel down the stairs to the bedroom level. The most beautiful bathroom and primary closet will knock your socks off. We love the breezeway between the two rooms on this level. Go for a dip in the lake or hot tub and take in the lapping water around you. The basement has room fo...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
What If a Seller Asks You to Cut Your Commission? The first thing you have to remember is that when someone asks you to cut your commission, they are being motivated by something. Maybe the seller is concerned about closing fees. Maybe a friend of theirs bragged about what they paid. Maybe they are just trying to figure out the differences between you and another agent (because you may be competing against other agents to secure this listing client). With that in mind, it's not about having perfect answers right off the top of your head. It's about opening up the topic for discussion. Both you and your prospective client should be comfortable talking about your commission. When I was an agent, I would frequently talk with sellers about commissions. My response was, "That is a really gr...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
How Will You Prepare Your Business for 2022? Right now it is the fall real estate season. Maybe, just maybe, in your area you might have the sensation that the market has softened. Maybe just a little bit. And ho-boy, if you have been working hard all year long, this may feel like a long overdue and welcome moment. But I've done my research. Have you? Because there is something you should know. Our market is still in dire need of new inventory and there's no relief coming in 2022. So, how will you prepare for the coming year? Every year, about this time, I'm already thinking ahead. I know that while it's only the second week of November that just around the corner is Thanksgiving and then BOOM the end of the year will be upon us. Are you wondering what the housing market will do this c...
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By J. Casey Losh, CEO
(Ewing and Clark)
Across the Northwest Multiple Listing Service inventory is down over 23% and prices are up 15% from last year. Prices in Seattle, while not as impressive, are still up 5.3%.  Other areas of King County have seen large gains. For example, Vashon prices are up 33% and the Eastside is up 17.3%.  The Eastside and even Seattle are luxury real estate markets.  In October, Seattle homes had an average sales price of $1.05 million and sell for an average of 15 days.  On the Eastside, the Bellevue area between Lake Washington and Lake Sammamish had an average sales price of nearly $2.46 million while Mercer Island homes sold for an average of $2.42 million.  Condos have recovered nicely.  Condo sales slowed during the early part of the pandemic, but condo inventory is down 55% from a year ago.  ...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Don't Be Afraid to Niche - It Won't Limit Your Real Estate Business! There comes a time in many agents' careers when they get tired, burned out, and know they can't continue in the business the way they have. Maybe they are selling across too large of an area that has awful traffic and they are spending more and more time on the road and less time in the houses they are trying to show. Maybe they are working with clients who don't take advice and are too much work (such as buyers who won't be realistic in their offers and you wind up writing offer after offer, driving further and further away from where they started their search months ago). Maybe they have had an awful transaction with a client. You know, one of those transactions that make you question whether or not you are cut out ...
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By Erin Harper, REALTOR®
(Erin Harper Homes Compass Real Estate)
One of my favorite things about living in Clyde Hill is the proximity to some of my favorite places to spend time in the Fall. Nothing beats living less than two minutes from the Medina dog park! Our dogs Penny & Pepper especially love our visits to the park in the Fall when they can play in the fallen leaves. The park is a true neighborhood fixture and I love seeing it full of dogs and pet parents. Everyone in our family has made friends from around the neighborhood at the Medina park and I love the strong sense of community felt there. I like that there are walking paths and wide open spaces so you have the option of throwing the ball around with your dogs or just walking with them. Bonus that the paths are gravel so the dogs don't get overly muddy on the trail!Another Medina favorite...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Are Time and Money Wasters Dragging Your Business Down? Have you ever had a leaky faucet? One that drip-drip-drips all day and night? Maybe one that you know should be fixed, needs to be fixed, but it isn't your biggest priority? Then the water bill comes and you are shocked to learn that the little drip drip drip has resulted in an extra $200 bill and thousands of gallons of water. Then it becomes a big priority! The individual drips don't seem like a big deal, but the accumulation factor is huge. Every business has leaks. Most real estate agent businesses are especially prone to leaks because we are independent contractors! Most agents have to be the lead generator, administrative assistant, the bookkeeper, the appointment-setter, the graphic designer, and more. Usually the biggest p...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Prioritizing Your Rocks You are likely familiar with the Rocks, Pebbles, and Sand story and demonstration. No? Let me quickly explain: Our demonstration includes a jar, rocks, pebbles, and sand. The jar represents your life - the 24 hours that each of us has each and every day. The rocks include the important stuff - spouse, family and friends, pets, hobbies, health, and the things that bring each of us joy. The pebbles include the things that we have to focus on such as career, making sure your house is maintained, your financial life, etc. It even includes marketing such as your campaigns that bring you future business! These things are not as important as things you designate as your rocks, but they are still things that give your life structure. The sand is all the extra stuff - wa...
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By Denise Lones, CSP, MIRM, CDEI - Real Estate Coaching & Branding
(The Lones Group, Inc.)
Building Rapport - It Can Make or Break Your Listing Presentation Making a strong first impression can be tough - unless you have a fail-safe system for it that works in almost every listing presentation. My Rapport-Building Formula helps you connect with the seller, allows you to get to know the property and, most importantly, helps you stand out right away utilizing a process that almost no other agent is using. How does the Rapport-Building Formula work? It's easy! What You Need A clipboard and pen Your phone/camera Home Conditions Checklist Seller Improvements Checklist Listing Dollars Checklist To put the Rapport-Building Formula into action, put the three checklists onto your clipboard, have your phone handy, and you are ready to go once you get to the seller's house. Most agents...
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By Kevin Meyer, Eastside and Greater Seattle Homes & Real Estate
(Kevin Meyer Group - John L Scott Real Estate)
Stunning Snoqualmie Ridge Home OverviewMapsFeaturesMarket Stats $2,300,000 Single Family Home Main Features 4 Bedrooms4.75 BathroomsInterior: 4,780 sqftLot: 14149.00 sqftYear Built: 2005MLS #: 1821927 Location 35206 SE Palmeter LaneSnoqualmie, WA 98065 Description Elegance & custom millwork sweep thru this stunning Snoqualmie Ridge home. French doors open to an entrance w/soaring ceilings & natural light. Great Rm w/FP & custom built-ins. Open floor plan flows into gourmet Kit & dining area. Glass doors lead out onto the covered patio. Chef’s Kit has double ovens, prep sink, rich hrdwd & walk-in pantry. Main flr suite is perfect for guests or master on the main. Den w/custom built-ins & desk is ideal work from home space. Primary suite w/private FP & picturesque views of the Mountains....
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By Kevin Meyer, Eastside and Greater Seattle Homes & Real Estate
(Kevin Meyer Group - John L Scott Real Estate)
Just Sold! Snoqualmie Ridge Home OverviewMapsFeaturesMarket Stats $1,500,000 Single Family Home Main Features 5 Bedrooms3.25 BathroomsInterior: 4,317 sqftLot: 6,384 sqftYear Built: 2000MLS #: Unlisted Location 7206 Curtis Drive SESnoqualmie, WA 98065 View All Available Snoqualmie PropertiesFall City – Issaquah - North Bend Price Your Home Here View Our Recently Sold Homes Just Sold! Updated Renton Highlands Home Just Sold! Custom Benson Hill Home Just Sold! New Construction in Lake Stevens Just Sold! Charming Snoqualmie Ridge Home 
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King County, WA Real Estate Professionals