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Seattle, WA Real Estate News

By J. Casey Losh, CEO
(Ewing and Clark)
Northwest MLS MarketTransactions across the Northwest MLS, have been down the last two years.  For example, during the 5 years between, 2017 and 2022, the average of number of sales in February was 5,426 .  Furthermore, the least amount of sales transactions during that time was in February 2019 being 5,145.  In contrast, the past two Februarys the number of sales was 4,258 in 2023 and 4,189 in 2024.   Nevertheless, the median price has generally trended up, with 2023 the only year to see a dip from the previous year.  Median price across the NWMLS in February 2017 was $335,515 and now this past February median price was $608,111.Seattle Real Estate MarketSeattle has generally followed similar trends as the overall NWMLS real estate market, but February 2024 bucked the trend of the rece...
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By J. Casey Losh, CEO
(Ewing and Clark)
Overall Greater Seattle Real Estate MarketThe Greater Seattle real estate market is part of the Northwest MLS.  Pending Sales in August were down 25% across the NWMLS, but the median price In August was the same as July ($615,000) and actually higher than the previous year ($600,000).  Prices remain strong because of low inventory.  Many current homeowners are locked in at historically low interest rates; thus, are generally choosing to stay put rather than sell.  Only 8,152 new listings were added in August.  Down 18% from the previous August which added 9,914.The Greater Condo MarketThe condo market has also faired well. Median prices in August ($465,000) did dip from July ($480,000), but for the second month in a row they did exceed the previous year’s median price ($450,000 in Augus...
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By J. Casey Losh, CEO
(Ewing and Clark)
Is it wise to buy a house in Seattle now?It is a complex question that you really should speak to a Seattle real estate broker about, but...the simple answer is yes!  Prices peaked across the NWMLS (26 counties in WA State) in the May of 2022 (median price of $660,000).  However, as the interest rates continued to increase the real estate market began to fade.  Median prices declined each month, but the prices were still higher than the previous year.  Finally in December 2022 it was the first time that median prices dipped below the previous year.  It was a minor dip (Dec 2022 = $570,000; Dec 2021 = $572,900), but a dip nonetheless. Then 2023 began and while the median price again dipped in January ($557,250), something began to happen.   The median price in Feb ($575,000) not only inc...
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By J. Casey Losh, CEO
(Ewing and Clark)
Has the Seattle real estate market improved?  Seattle is part of the NWMLS.  While pending sales across the NWMLS are still down 9% from last January, the market has shown resilience to begin 2023.  For example, pending sales in January are up 44% over December.  In addition, prices in January are up 0.41% when compared with last January. The improved market seems to correlate with the recent interest rate drop.  Interest rates peaked in November with a Freddie Mac U.S. weekly average of over 7%.  Last week, that number was 6.09%.Inventory is up from the historically low numbers from a year ago.  This January ended with 8,220 active listings versus 3.092 a year ago.  Nevertheless, across the NWMLS inventory is only 2.52 months which is still a sellers’ market.  Four to six months is an ...
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By J. Casey Losh, CEO
(Ewing and Clark)
2022 started out the year with both historically low interest rates and record low inventory.  This created a very hot (seller’s) market across the NWMLS and the Greater Seattle condo market.  For example, 2021 ended with the Freddie Mac 30 year fixed rate of 3.05% and NWMLS had 0.40 months of housing inventory.  In comparison, at the end of 2022, Freddie Mac 30 year interest rate was 6.42% and inventory was at 2.09 months.  Thus the real estate market changed drastically over the course of the year.  Nevertheless, the condo market had modest increases at year end.  Across the NMWLS, condo prices were up 1.15% in December 2022 compared to December 2021.  In addition, for the year, 2022 median prices finished above the previous year.Looking at the Seattle condo market, where the vast maj...
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By Rob Spinosa, Mortgage Loan Originator, Marin County
(US Bank)
How to Rock a Low House Appraisal Value!!!  You found the perfect home... And the seller accepted your offer... And your mortgage application is underway... Until your appraisal comes in low.  What now??? Never mind all the bad advice that swirls around this dilemma.  There are a handful of effective ways to deal with an appraisal value that comes in under your offer price, so if you find yourself in this stressful situation today, get in touch.  Or perhaps you're a Realtor or buyer looking to better understand all of the tactics and tips that you can use to negotiate a low appraisal in today's challenging real estate market.  If so, come as you are and let's learn how to rock a low appraisal value today.   Smells like teen spirit,  Rob SpinosaSVP of Mortgage LendingGuaranteed RateNMLS:...
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By Rob Spinosa, Mortgage Loan Originator, Marin County
(US Bank)
How to Rock Adding a Co-Signer on a Mortgage!!!  When your fantasy of owning a home meets the reality of qualifying mortgage, it can sometimes mean that you'll need a little help.  And in more than a few of those cases, the most elegant solution can be a co-signer, technically known as a "non-occupant co-borrower" within the mortgage industry. So, who makes a good co-signer and who's just "bad company?" Let's learn how co-signers can impact, both good and bad, the three most critical elements of any loan approval; income, assets and credit. I won't deny it,  Rob SpinosaSVP of Mortgage LendingGuaranteed RateNMLS: 22343 Cell/Text: 415-367-5959 rob.spinosa@rate.com Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960 *The views and opinions expressed on this site about work-r...
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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)
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 Courtney Cooper, 206-850-8841
(Cooper Jacobs)
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 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 Adrian Willanger, Profit from my two decades of experience
(206 909-7536 AdrianWillanger-broker.com)
There are different methods that home buyers may use to find a real estate agent to work with. While some may use the services of a real estate agent who they know personally, others may reach out to a professional who they have located online. Regardless of whether you previously knew the individual in a non-professional setting or not, it is important that you check your agent's reference and testimonials before you get started with the home buying process. There are several good reasons for this.     The Importance Of AccessibilityWhether you are trying to find the perfect property and submit an offer before anyone else or you are actively negotiating with a seller, you need your real estate agent to be accessible to you. Simply because you are friends with the agent or they were fri...
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By Kevin Meyer, Eastside and Greater Seattle Homes & Real Estate
(Kevin Meyer Group - Compass Real Estate)
Just Sold! Stunning, Private Retreat with Puget Sound Views OverviewMapsFeaturesMarket Stats Sale Price $2,650,000 Single Family Home Main Features 3 Bedrooms1.75 BathroomsInterior: 2,570 sqftLot: 1.92 acre(s)Year Built: 2011MLS #: 1740234 Location 5308 Gold Court SWSeattle, WA 98136 Description *SOLD* The Kevin Meyer Group represented the Happy Buyer's of this beautiful home, winning out in a multiple offer situation! Gated shy 2 ACRE parcel overlooking Puget Sound Sweeping 180 unobstructable views ( you control trees ) Private retreat estate setting in the heart of West Seattle above Beach Drive. first time on market in 75 years, 10 year old custom rambler, 1000+ sq ft of sweeping view decks, huge 1000+ sq ft "rock star "detached garage with studio office, shop. Walking trails on bot...
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By Lisa Archdale, Leveling Up Your Seattle Real Estate Dreams
(Keller Williams North Seattle )
There are so many things to do to prepare your home for sale. It seems like many of us make the decision to sell our property and then wonder, when prepping my home for sale, what should I focus on? My partner Ahmed and I have a team, at Keller Williams North Seattle, Seattle Level Up. We help sellers get organized to prep your home for sale and what to focus on.North Seattle has experienced very high demand for housing the past few years and this past year during the pandemic the greater Seattle area is in a serious drought for inventory.The job market here in Seattle remains steady and strong due to many of the local industries which are global companies. That has even more people moving into the area hoping to become buyers and take advantage of the amazing historically low mortgage ...
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By Kevin Meyer, Eastside and Greater Seattle Homes & Real Estate
(Kevin Meyer Group - Compass Real Estate)
Just Sold! Custom Modern Seattle Home OverviewMapsFeaturesMarket Stats $2,215,000 Custom Single Family Home Main Features 4 Bedrooms3.25 BathroomsInterior: 3,730 sqftLot: 4,409 sqftYear Built: 2018MLS #: 1664345 Location 1601 29th AvenueSeattle, WA 98122 Description Exquisite, custom built home showcasing contemporary styling, soaring ceilings, top of the line finishes and functionality. Chef’s kitchen features Jenn-Air Pro appliances, marble waterfall counters, expansive island, walk-in pantry and must-see wine room. Home is adorned with custom finishes including 6' oak flooring throughout, hand built barn doors, built-ins and an unparalleled owner's suite with dual walk-in closets and 5-piece bath. Top floor sanctuary features wet bar, walls of windows and 410SF deck.   View All Avai...
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By J. Casey Losh, CEO
(Ewing and Clark)
NWMLS Real Estate ReportYear over year, closed sales are up 23% and pending sales have increased nearly 8% which has caused real estate inventory to decrease to 43% and prices to increase to 13.8%.  While inventory is down 43%, it varies per county by quite a bit.  For example, King County inventory is down “only” 18% from last November, while many such as Snohomish counties are all down a minimum of 63%Seattle HomesThis November, 848 Seattle homes sold for a median sales price of nearly $935,000 compared to the 683 Seattle homes that sold for an average of just over $858,000.  Thus, Seattle sales saw an increase of sales of 24% and an increase of home prices of 9%.  Housing inventory continues to struggle to keep up with the number of Seattle home sales so high.  Seattle luxury real es...
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By J. Casey Losh, CEO
(Ewing and Clark)
Update on Greater Seattle Condo MarketThe Seattle condo market has been steady in 2020. For example, through October 2020 the average Seattle condo price in Downtown and Belltown is just over $839,000. In contrast, the average condo in the area sold for over $863,000 in 2019, but that is only part of the story For instance, price per square foot is significant because the condo inventory, especially in Downtown/Belltown, is generally homogeneous. In 2020, condominiums in the Downtown/Belltown area have been selling for nearly $800/sq ft while in 2019 the price was just under $775.sq ft. Nevertheless inventory has been ticking up the last couple months. This is good news for condo buyers, because unlike home buyers in the Seattle real estate market who have seen tight inventory, more Sea...
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Inventory Down Despite a Plethora of New ListingsThe Seattle real estate market is in King County which is one of the 23 counties that combine to make the Northwest Multiple Listing Service (NWMLS).  While interest rates are low on a national level, the local home inventory is the big story.  There is very low home inventory despite a huge increase of new listings coming on the market in August.  For instance, there was an increase of 11,943 new residential listings in August up from 10,488 last August.  Still at the end of month residential listings were down almost 43% from last year (9,591 vs 16,697).     Buyers Snatching up Homes QuicklyBuyers are snatching up homes as soon as they come on the market.  The NWMLS's pending sales are up 23% as compared to last August.  In addition, Au...
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By Kevin Meyer, Eastside and Greater Seattle Homes & Real Estate
(Kevin Meyer Group - Compass Real Estate)
Sage-built Townhome in Superb Ballard Location Overview Maps Photos Features Market Stats *Sold* List Price $949,500 Single Family Home - Townhome Main Features 3 Bedrooms2.5 BathroomsInterior: 1,810 sqftLot: 1,373 sqftYear Built: 2015MLS #: 1657532 Location 1737 60th Street Unit ASeattle, WA 98107 Description *Just Sold, in days at list price!*  Outstanding opportunity to establish yourself in Ballard – a highly desired, charming community where maritime heritage and hip hangouts coexist to create a unique, easygoing vibe. This good-as-new Sage Homes build offers everything you’d desire in a modern townhome: clean architectural lines, premium finishes, and three stories of flexible, light-filled spaces that enhance your hosting and private time equally well. The oversized owner’s suit...
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By Kevin Meyer, Eastside and Greater Seattle Homes & Real Estate
(Kevin Meyer Group - Compass Real Estate)
Just Sold Modern Georgetown Townhome OverviewMapsPhotosFeaturesMarket Stats Sale Price $623,482 Single Family Home - Townhome Main Features 2 Bedrooms1.75 BathroomsInterior: 1,490 sqftLot: 862 sqftYear Built: 2017MLS #: 1657686 Location 6236 Corson Ave SUnit DSeattle, WA 98108 Description This smart and inviting townhome offers SoHo-style living in the heart of avant-garde Georgetown. Inspired by the neighborhood, industrial design elements and warm, modern finishes are found throughout: handsome reclaimed wood stairs, Ceasarstone quartz countertops, dramatic metal staircases and more. The open-concept kitchen/dining/living room offers incredible flexibility for entertaining; move effortlessly from the big game to the big reveal of your latest culinary creation, aided by gorgeous stain...
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