Viewing entries in
Market Report

Seattle Home Prices Temper Their Pace

Seattle Home Prices Temper Their Pace

105277626_xl-1080x720.jpg

At just over 12 percent year-over-year, residential prices in Seattle in July 2018 sustained their rate of increase from June, according to the S&P CoreLogic Case-Shiller Index. The Index showed Las Vegas, Nevada widening its lead nationwide with a twelve-month increase of 13.68 percent. Seattle remained second in the nation at 12.05 percent growth. Competing Pacific Coast gateway cities Los Angeles and San Diego were neck-and-neck, with home price increases of 6.37 percent and 6.18 percent, respectively, while prices in San Francisco rose by 10.8 percent.

“Rising home prices are beginning to catch up with housing,” David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices was reported as saying in S&P Dow Jones’ official release. “Year-over-year gains and monthly seasonally adjusted increases both slowed in July for the S&P CoreLogic Case-Shiller National Index and the 10 and 20-City Composite indices. The slowing is widespread: 15 of 20 cities saw smaller monthly increases in July 2018 than July 2017.” This was the case for Seattle, as well as San Diego and Los Angeles. It was not true in San Francisco or Las Vegas, were prices rose more quickly.

As reported by Nevada’s own state Financial Inquiry Commission and described in our report last month. Las Vegas residential prices had much catching up to do over the past ten years. Prices fell 56.6 percent after peaking in August 2006. In a dramatic reversal, single-family home prices in Las Vegas rose by over one percent per month from July 2017 to July 2018, and accelerated to 1.36 percent per month with effect from February.

Consequently, Seattle’s second-place showing isn’t due to a change in the trajectory here, but rather because prices in Las Vegas are rapidly regaining lost ground.

While the monthly Index result for Seattle was lower by the smallest of margins (-0.1 percent), prices in fact were higher year-over-year for July in key areas of the city (Central and West Seattle), and in smaller cities nearby (Federal Way and Redmond).

Central-and-West-Seattle.png
Federal-Way-and-Redmond.png

For Seattle’s comparative performance on the Case-Shiller Index, see our chart of the Index trends below; and for more details, download the S&P Dow Jones Case-Shiller summary report. For details on the implications for homes in your neighborhood, contact a local RSIR broker for their latest analysis.

SP-July-Chart.png


Waterfront Update 2018

Waterfront Update 2018

Header-1080x608.jpg

Puget Sound Waterfront Analysis

Realogics Sotheby’s International Realty is pleased to share a Waterfront Update released on RSIRWaterfront.com examining many different regions and popular waterfront communities in the Puget Sound and Greater Seattle regions, including information on home values, sales trends, and market activity. The report mainly concerns price trends and typical location factors affecting the value of any real estate. However, waterfront sales may also be influenced by features such as docks, moorage, and beach or tidelands access, which may be conditioned on easements or otherwise shared, especially in more densely populated areas.

Marketing-Post-4-Circles-1080x381.jpg

Since 2014, waterfront prices have generally been on an upward trend—it should be noted that in several areas, particularly the Four Points and Kirkland, the number of sales on even an annual basis are easily skewed by outliers and too small to reliably discern trends as to price and volume. The annual prices for the preceding years and the current year to date are shown in the table below.

Average Selling Prices 2014 to 2017; January 1 to June 30, 2018

Market Trends from Around the Sound: Q2-2018

Q2-Header-Update.gif

Realogics Sotheby’s International Realty presents a look at the housing market trends for the second quarter of 2018, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.

Seattle  |  Single-Family Homes

Seattle continues its red-hot housing market streak, as the median sales price of a single-family home hit $857K, up 13.1% compared to Q2-2017, which averaged $758K.

View report>>

Eastside  |  Single-Family Homes

Home prices on the Eastside continued their upward climb, increasing 12% year-over-year, while days on market decreased to just over two weeks.

View report >>

Bainbridge Island  |  Single-Family Homes

Though other areas experienced increased inventory, Bainbridge Island saw a decrease of homes for sale with just 1.8 months of inventory, as the days on market fell 40%.

View report >>

 Seattle  |  Condominiums

Condominiums in Seattle continue to draw buyers, as the average days on market in Q2-2018 was 14 days and the average sales price reached $514,000.

View report >>

Market Trends from Around the Sound: Q1-2018

Test-2.gif

Realogics Sotheby’s International Realty presents a look at the housing market trends for the first quarter of 2018, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.

Seattle  |  Single Family Homes

Seattle home prices remained red hot in the first quarter of 2018, as the median sales price reached $917,000, up over $30K from the final quarter of 2017 and 14.2% year-over-year. View report here.

Eastside  |  Residential

A shortage of homes available continues on the Eastside, as the average days on market decreased by 5 days to just under one month with the average sales price up 13.2%. View report here.

Bainbridge Island  |  Residential

Bainbridge Island continues to attract buyers, as the number of homes sold was up just over 28% from Q1-2017 despite a sharp 60.7% inventory decrease. View report here.

 Seattle  |  Condominiums

Condominiums in Seattle continue to attract buyers as the average days on market in Q1-2018 was 15 days, down a staggering 34.8% compared to the first quarter of 2017. View report here.

More Coverage on Seattle Condo Activity Here.

View-All-Reports-1024x384.jpg

Market Trends from Around the Sound: Q4-2017

4th-Quarter-GIF.gif

Realogics Sotheby’s International Realty presents a look at the housing market trends for the fourth quarter of 2017, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.

Fourth-Quarter-Header-1024x384.jpg

Seattle  |  Single Family Homes

Seattle home prices continued to reach far beyond seller’s expectations in Q4-2017, as the median sales price increased 16.7% year-over-year to $882,000. View report here

Eastside  |  Residential

Q4-2017 posted impressive gains on the Eastside, as the average sales price increased 11% compared to last year and the days on market plummeted to 26 days. View report here.

Bainbridge Island  |  Residential

Bainbridge Island continues to attract buyers, as the number of homes sold was up slightly compared to Q4-2016 despite a sharp 32.9% decrease in inventory. View report here

 Seattle  |  Condominiums

The average sales prices for condominiums in Seattle as a whole increased by 11.6% compared to the third quarter of 2016, while the value of condos in the downtown core continues to skyrocket. View report here