Jeffrey Magnuson, Umpqua Bank

"Look, we knew last year’s Seattle real estate market was wild. Over the summer it was as hot as a heat dome. So we were prepared to see some bonkers figures in Northwest Multiple Listing Service’s annual report on home sales. But the stats in the 2021 recap are staggering even by our region’s very expensive standard. These numbers from across King County tell the story."

Read more on Seattle Met.

The Most Eye-Popping King County Real Estate Numbers of 2021 The prices of homes in Seattle, Bellevue, Redmond, and other suburbs last year were astonishingly high, even by regional standards.

"It’s getting harder to find a home for less than $500,000 and easier to find one with a price tag of more than $1 million.

That’s just one takeaway from year-end data on Western Washington home sales, released Wednesday by the Northwest Multiple Listing Service. The figures also chart the ongoing rise of the suburbs, the shortage of homes for sale and which luxury tower had the priciest condo sale of the year."

In the Seattle Times read the five big takeaways from last year’s housing market.

5 takeaways from Seattle’s red-hot 2021 housing market, and the year’s priciest sales Seattle-area home prices climbed at a breakneck pace in 2021, with figures showing an ongoing rise of the suburbs, the shortage of homes for sale, and which luxury tower had the priciest condo sale.

"It’s not too often that you see a 1926 home with a sunken living room—and just as rare to see a beautifully aged 1980s update. This cottage in North Seattle between Bitter Lake and Greenwood defies all odds with a fun and efficient floor plan that successfully pays homage to late-1960s style."

See more on the Seattle Met.

Property Watch: A 1920s Home with Retro-Modern Vibes This charming two-bedroom house for sale from Windermere has beautifully aged updates in Bitter Lake.

"Pummeled by a new coronavirus variant, snowstorms and a typical seasonal slowdown, the region’s housing market sputtered through the final month of 2021.

Home prices across the Puget Sound region were essentially flat from November to December, shifting 1.5% or less in either direction in counties across the region, according to data released Thursday by the Northwest Multiple Listing Service.

Fewer homes were listed for sale, and new sales dropped nearly 41% in King County from November to December."

Read more on The Seattle Times.

‘Perfect storm’ slows Seattle-area housing market in December. See what’s happening near you Seattle's housing market showed more signs of cooling in December, with a dip in sales and fewer homes to choose from. See what's happening near you.

"After a red-hot summer, Seattle-area home prices were roughly flat for the third straight month in October, continuing the recent slowdown in the local housing market that could last at least through the colder months.

Still, that doesn’t mean homes are becoming more affordable.

Home prices in the Seattle area rose seventh-fastest in the country in October, behind Phoenix, Tampa, Miami, Las Vegas, Dallas and San Diego, according to the latest S&P CoreLogic Case-Shiller Home Price Index, released Tuesday. The index lags by two months and monitors a three-month rolling average of home prices in parts of King, Snohomish and Pierce counties."

Read more on The Seattle Times.

Home-price growth is slowing across the United States. Here’s what’s happening in Seattle Seattle-area home prices ticked up in October compared to September, but just barely. The trend is part of a slowdown happening all over the United States.

"As of December 2021, "The Seattle condo market continues to remain healthy with an increase of 20.6% in transactions, which has already surpassed 2020, with a steady median sale price," said Data Analyst Parker Hemingway of Compass Realty."

Read more on Seattle PI.

Seattle's top 3 condo sales of 2021 all have one thing in common Condos had a resurgence in popularity in 2021.

"Seattle-area home prices are continuing to stagnate as the local real estate market takes its typical winter hiatus.

Median home prices across the Puget Sound region were essentially flat in November compared to the month before. That’s typical of this time of year, when fewer sales take place."

Read more on The Seattle Times.

A cooler Seattle-area housing market as winter hits, but some buyers still face bidding wars Seattle-area home prices were roughly flat in November compared to October. But they are still far above this time a year ago. See what's happening near you.

Happy Thanksgiving!

"In October 2021, we saw pretty much the same thing we’ve been seeing all year: It’s a hot time for the suburbs. Closing prices in Pierce County and Snohomish County grew by the same rate last month, at around 20 percent compared to the same time last year, according to data from the Northwest Multiple Listing Service."

Read more on Seattle Met.

The Suburbs of Seattle Are Hotter Than Ever Seattle real estate trends from October 2021 show a clear focus on areas like Lake Forest Park, Mountlake Terrace, Burien, North Bend, Skyway, and Renton.

There is nothing in this world that can match your hard work, dedication, commitment and passion and we really admire it all. Wishing a very Happy Veterans Day.

"The fall months brought a cold snap to Seattle’s housing market.

Prices in King County are essentially flat. Fewer new homes are listed for sale, and fewer home shoppers are taking the plunge. That’s welcome news for some buyers still on the hunt, who are finding occasional price drops and fewer bidding wars.

But it’s not all so rosy.

The number of new listings in King County plunged from September to October and those listings were quickly snapped up before the month was out, putting the squeeze on buyers who are still shopping."

Read more on The Seattle Times.

Seattle homebuyers may have ‘chance to get lucky’ this fall; see what’s happening in your area As the Seattle-area housing market cools with autumn, "now is the chance to get lucky," one real estate agent says. Home prices in King County are about flat. However, fewer homes have been listed. Check the charts to see what's...

Happy Halloween!

"In September, Seattle homebuyers found slight reprieve from some of the struggles that have been characteristic of the city’s hot housing market over the last year.

Zillow’s latest monthly report — which examined housing trends between August and September — found that home prices only rose 1.2% between the two months. "

Read more on Seattle PI

Seattle homebuyers saw some reprieve in September: report The modest slowdown in growth that began late in the summer continued into early fall,...

"A lot of trends that have been going on since pandemic lockdowns first started are continuing: A central location is less of a priority, and suburbs are heating up more than ever. But as amenities return to denser, urban areas and some return to offices, downtown condos are back on the rise—and the market is likely only going to get more competitive from here.

The story is not entirely straightforward, and won’t be for a while. Since sales are reliably different each month of each year, year-over-year stats tend to be more telling for things like sales prices and market demand. But 2020 was, to put it mildly, bonkers. There’s still plenty to learn from last month’s numbers."

Read more on Seattle Met.

September Real Estate News: Suburbs Are Hot and Downtown Comes Back The Seattle housing market is wild, but year-over-year growth last month means the drama isn't over yet.

“White-collar workers, untethered from their desks after companies flipped to remote work because of the pandemic, are taking their housing searches — and their cash — farther from Seattle.

Outlying areas have boomed, from Spanaway to Poulsbo to Orcas Island.

Whatcom County, home to Bellingham, felt the change, too.

Remote workers are nothing new to the Northwest corner of Washington, but local real estate agents say the pandemic felt like hitting the fast-forward button.”

Read more on The Seattle Times.

Housing costs climb far from Seattle as remote work takes hold Washington's housing market has entered an autumn cooldown, but prices have climbed more dramatically in areas farther from Seattle like Whatcom County in the state's northwest corner.

"Seattle has clocked another month of record-breaking home price growth — and that’s not good news for everybody.

Seattle-area home prices climbed 25.5% year-over-year in July, the third-fastest increase in the country behind Phoenix and San Diego and Seattle’s highest-ever 12-month jump, according to the latest S&P CoreLogic Case-Shiller Home Price Index, released Tuesday.

The index reports a three-month rolling average of home prices and lags by two months. Its measure of the Seattle area includes parts of King, Snohomish and Pierce counties."

Read more at The Seattle Times.

Seattle-area home prices take biggest 12-month jump ever; here’s where they’re zooming up fastest Seattle-area home prices continue to climb at a record-breaking pace. Only Phoenix and San Diego increased more during the past year. But there are signs that the growth is nearing a peak.

"As expected, our local real estate market took a bit of a breather this August. Across King County, activity and prices dipped month-over-month, according to the Northwest Multiple Listing Service’s latest home sale stats...
Prices are still extremely high in the area. In King County, the median home went for $771,750 in August, 13.5 percent higher than a year earlier. In Seattle, median cost was even greater, at $799,000, or about 4 percent more than in August of 2020."

Read more on Seattle Met.

Which Area of Seattle Real Estate Didn't Cool Off This August? Home sales numbers for August 2021 in Seattle show that some beleaguered neighborhoods and property types are back in demand.

"The Seattle-area housing market has historically cooled in August, and this year was no different.

A new report from the Northwest Multiple Listing Service shows a dip in listings, inventory, sales and median prices in August when compared to July.

The number of new listings in the 26 Washington counties examined in the report decreased by 11.5% from July to August, while the total number of available units fell by 6.6%."

Read more on Seattle PI.

Report: Seattle's housing market cooled in August, matching historic trends The latest MLS report shows dips in Seattle metro area listings, inventory, sales and...

Happy Labor Day!

"Even as the Seattle-area housing market started to cool this summer, prices shot up at the third-fastest rate in the country.

Home prices in the region leapt 25% in June compared to a year earlier, according to the S&P CoreLogic Case-Shiller Home Price Index released Tuesday. June was the fifth month in a row that prices climbed faster in only two other cities: Phoenix at 29.3% and San Diego at 27.1%.

The index, which tracks 20 major cities, lags by two months and measures price growth in portions of King, Pierce and Snohomish counties as part of the Seattle area.

Seattle’s price growth set a new record for the third month in a row, blowing past the 18% year-over-year growth the region saw in 2005, before the housing crash."

Read more on The Seattle Times.

Seattle home prices continue to soar at a record-breaking pace. When will the housing market come ‘back to earth?’ Home prices in Seattle are climbing at the third-highest rate in the country. The housing market is showing some signs of cooling, but still feels out of reach for plenty of first-time buyers.

"A summer slowdown is normal in Seattle real estate. Families are more apt to jockey for trailhead parking spots and San Juan Islands ferry seats than spend those precious sun-soaked days bidding on houses. Back-to-school is nigh; moving conversations can wait.

But when the coronavirus pandemic threw conventional house-hunting thinking out the window, so went the traditional summer detente. Shutdowns reset the real estate clock. Spring was now summer. And fall. And winter."

Read more on Seattle Met.

Seattle’s Real Estate Market Is Cooling Off. But for How Long? Competition for homes in Seattle and King County wasn’t as fierce in July 2021. As fall approaches, however, it's still a seller's market.

"Nearly one-third of the homes for sale in Seattle have a listed asking-price of at least $1 million, according to a new study by an international real estate search portal.

The study, done by Point2, examined the number of "luxury homes" for sale in the 30 biggest cities in the U.S. Seattle was ranked number seven on the list, with 28.1% of listings above $1 million. San Francisco claimed the top spot, with 64.1% of listings above $1 million."

Read more on Seattle PI.

Nearly a third of Seattle homes for sale are listed above $1M The study examined the number of “luxury homes” for sale in the 30 biggest cities in...

"After a chaotic summer that saw extremely low housing inventory, bidding wars and record-breaking jumps in median sale prices, Seattle's tight real estate market could be showing signs of cooling off for the fall season.

A new market report form the Northwest Multiple Listing Service (NWMLS) found that competition for homes in Seattle eased slightly in July, with brokers adding more listings and less homes going under contract. The agency saw slightly fewer pending sales in July than in June and May."

Read more on Seattle PI.

Summer slowdown? Seattle's housing market could be cooling off After a summer of low inventory, bidding wars and record-breaking price jumps, Seattle's...

"The new “For Sale” sign had been posted in the yard for less than 10 minutes when the first visitors started driving by the house, slowing down and stopping to take pictures. Trevor Descisciolo watched from his front lawn, trying to understand how the home he referred to as “a basic little starter” had suddenly become a destination in the far exurbs of Boise.

A few minutes later, another car pulled to the curb, and the driver rolled down his window. “Do you guys have a list price yet?” he asked."

Read more on The Seattle Times.

The new real estate normal In the fracturing American economy, any property can inspire a bidding war — and shut some people out.

"Seattle home prices have once again jumped at a record-breaking pace.

The cost of homes in the Seattle area in May was up 23.4% from last year — the fastest-ever jump in one year, according to the S&P CoreLogic Case-Shiller Home Price Index released Tuesday.

That spike broke a record set just one month earlier.

Last month, the Case-Shiller index reported Seattle’s biggest-ever one-year leap in April, of 20.2%. (The index lags by two months and covers the metro area, including Seattle, Tacoma and Bellevue.)

Two Western cities saw prices grow more quickly than Seattle in May: Phoenix (25.9%) and San Diego (24.7%). "

Read more at The Seattle Times.

More record-breaking growth in home prices: See how Seattle compares to the rest of the U.S. The cost of homes in the Seattle area in May was up 23.4% from last year — the fastest-ever jump in one year, according to the S&P CoreLogic Case-Shiller Home Price Index released Tuesday.

"Is relief finally beginning to materialize for Puget Sound homebuyers? There might be reason for cautious optimism, according to a new market report.

During June, the area saw a significant increase in new listings compared to the previous month, according to the most recent data from the Northwest Multiple Listing Service. Active listings for the region at the end of the month reached a peak of 6,358, the highest level since November 2020. For all of King, Pierce, and Snohomish counties, listings for both single-family homes and condominiums were up 14.5% compared to May levels."

Read more on SeattlePI

Increase in new listings offers 'hope' for Seattle-area homebuyers Is relief finally beginning to materialize for Puget Sound homebuyers? There might be...

"Freedom is nothing but a chance to be better." -Albert Camus

Enjoy the Fourth!

After these past few days of heatwave, the rest of the country is talking how many of our homes don't have A/C. Do you have A/C or are you looking for it in your next home?

"As the adage in Seattle goes, summer in the city doesn’t start until July 5, when the winter season’s cruel and persistent gloom would fully give way to long streaks of mid-70s sunshine. The saying harked back to an era when there was little talk of air-conditioning, save for the rare day when the weather might poke up into the 90s — an occurrence uncommon enough that Seattle’s residents could navigate it just fine by shutting blinds during the day and throwing windows open at sundown."

Read more on the NY Times.

Air-Conditioning Was Once Taboo in Seattle. Not Anymore. An intense heat wave is set to torment the Pacific Northwest. Many who have always done without air-conditioners are scrambling to get them now.

Happy Father's Day!