Posts tagged King County
Many King County Cities See Smaller Property Tax Bills

Tax season is here and homeowners in the region are receiving their property tax bills in their mailboxes. Following years of double-digit increases for homeowners, many are feeling a welcome relief this year, as Seattle Times reports that approximately half of the cities in King County are seeing a slight decrease compared to last year’s rates.

Read More
How to Time the Market

I was recently holding an open house when a curious neighbor came into the home to check out the new improvements and ask about current market conditions. After showing her the home and added value/improvements made by the seller—and asking her to tell everyone she knew—I briefly explained that we are going through a market correction, which began in mid-May (like a light switch on May 10th), and touched on the probable causes. I went on to say that current market conditions seem to have stabilized: generally, sales have increased and inventory began decreasing around mid-October (I saw it October 18th). I summed it up quickly with, “I believe it’s a great time to buy.” She looked at me and said “yeah, but what would you say to your friend or a family member. How would you advise them?” I shrugged and smiled as I replied, “I just did.”

Read More
The Puget Sound Real Estate Market is Finally Moving to a Balance

After seemingly endless months of a frenzied real estate market in the Puget Sound region in which buyers faced anemic supply and highly competitive bidding wars, the latest Northwest Multiple Listing Service (NWMLS) press release reports that we are “finally returning” to a more balanced market, as “buyers welcome more choices, moderating prices.”

Read More
What to Make of Seattle’s Market Cooldown

It’s been a time of some uncertainty in the Seattle real estate market, as buyers and sellers have felt wary of falling home prices, longer market times, and growing inventory. As a Seattle Times article from early September noted, “home prices are continuing to fall across an unseasonably cool Seattle real estate market, with homes that would have been snapped up in an instant just several months ago now sitting unsold.” August represented the third straight month of median home price declines in King County, with the countywide cost of a single-family home, at $669,000, down nearly $60,000 compared to May 2018.

Read More
Inventory Gains Help Ease Home Price Growth in Washington State

Those searching for homes in Western Washington are now choosing “from the largest supply of homes in three years,” this according to the latest press release published by the Northwest Multiple Listing Service (NWMLS). As the report outlines, home price growth has slowed significantly, at 6.7 percent across all counties surveyed. This paired with inventory gains is alleviating some pressure on buyers in the market.

Read More
Sellers Bring Down Sales Prices as Seattle Market Continues to Cool

For the first time in years, homes in the Seattle area are spending weeks—rather than just days—on the market, bidding wars become an exception to the rule, and sellers are bringing down sales prices to attract buyers in a cooling market. As Seattle Times reports, July 2018 was the first time in four years that the market began to lean in favor of the buyer, as inventory continues to increase, this time at a staggering 44-percent rate in King County.

Read More
Seattle Market Home Price Growth Slows Amidst Inventory Increases

According to a recent article featured in Seattle Times, Seattle is finally seeing inventory increase “as the rapid-fire market that has led to extreme bidding wars and lightning-fast sales slows a bit.” To be sure, looking at numbers from June 2018, the number of single-family homes “jumped an eye-popping 43 percent” while “condo inventory rocketed up 73 percent.” Neighborhoods such as Ballard/Green Lake/Greenwood and SODO/Beacon Hill doubled their inventory, while downtown Seattle condos saw a three-fold increase.

Read More
Why Are Home Prices So High?

Mike Rosenberg of Seattle Times has launched “an occasional column that aims to take you deeper inside our housing market” by answering frequently asked reader questions that involve all things in Seattle real estate. He decided to kick things off with a question on many Washingtonians minds: “Why exactly are home prices skyrocketing so quickly here?”

Read More