MARKET TRENDS FROM AROUND THE SOUND: Q1 - 2023
Inflation and rising interest rates impacted the housing market in late 2022 and continued into the first quarter of 2023. While headlines may suggest a slump, some areas have not experienced unsustainable growth seen during the pandemic-era boom. As a result, median sold prices for single-family homes remained relatively stable year over year. Experts believe Q1 marked the bottom of housing prices. When working with a Realogics Sotheby’s International Realty global real estate advisor, their expertise in selling and buying ensures optimal results in today’s market.
LIVING LIFE AT THE WATER’S EDGE: 2023 WATERFRONT REPORT
From elegant lakefront estates to peaceful abodes on idyllic peninsulas, the Puget Sound region offers some of the most remarkable, diverse options for waterfront living in the country. These desirable properties appeal to homeowners locally and globally, and their unique characteristics, demand, and opportunities put them in a different league than the rest of the region’s listings.
We understand how important it is to take a closer look at this special subset of the market, so we’ve compiled data, analysis, and perspective on market trends over the past years, focusing on 2022’s unique circumstances—the crests and troughs—and how our waterfront markets weathered the real estate downturn after the significant shift from the previous boom, causing sellers and buyers to reevaluate their real estate goals.