Brenna Violett

Just about to wrap up the first month of 2024 - let's look back on 2023 median home sales in the greater Bozeman area.

This is NOT actually a before & after shot (unless you catch the tiny bit of the grey house in the left photo... I told the sellers that green trim had to go before we went live).

My friends hired me to list their blue house in early spring, we went live in April at the absolute perfect time. The market was still super hot, inventory was super low, we perfected the prep & pricing strategy. The market delivered 6 offers by the offer review date and we closed in early June at $237,000 over the list price of $899,000.

At one of my open houses for that house, their neighbors (grey house) stopped by because they were thinking of selling too, and they ultimately hired me after seeing their neighbors' results. Though still a strong sellers market, we realized we were headed towards a different dynamic for summer (and these sellers' needs were different) so we designed a whole new strategy!

We prepped, priced, set expectations accordingly, and launched the listing in late July. No offer review date. At one day on the market, during my first open house, a nice, clean, full price offer came in that the sellers couldn't refuse. The kicker: the grey house sold for $97,000 less than the blue house. Same house layout. Similar/more upgraded finishes. But does that mean the market (prices) went down? NO!

You see, for the blue house, 4 of the offers maxed out at $1,000,000. 1 maxed out at $1,060,000 (cash) and then got cold feet at the last minute. The backup plan was the only one that went above $1,100,000, and that was out of sheer desperation. For the gray house, my sellers actually decided to price higher than what the market would most likely command, at $1,050,000. {But because it was perfectly prepped, the first buyer to tour knew it was "the one" and was not willing to risk losing it, our needle-in-a-haystack buyer}.

Inventory is still low; with the right strategies, properly prepped & priced properties ARE selling. There are also unique opportunities for buyers right now that we haven't seen since early 2020. I am beyond grateful for every opportunity to help my clients create their strategies for real estate success! I'm always just a call/text/email away.

This one is called "Fremont Views" - because of its 360-degree views of Seattle and the eastside. Nothing like it! This is a fully detached, standalone townhome that checked every box, and then some. Attached garage, laundry room, pantry, primary suite, main living space that is utter ~perfection~, and that rooftop is the envy of the neighborhood (the city, even, honestly), guaranteed.

**September Market Update**

Months of Inventory is the biggest indicator of market health and where prices/bidding wars are headed. For reference, a balanced market (one where sellers & buyers are at fairly equal advantage) is 4-6 months of inventory. Our last inventory boom was summer of 2018, that summer is the time I like to call "the rebalance", and it restored stability to Seattle's housing market.

*decoder: YoY is year-over-year, so comparing september this year to september last year

Months of Inventory
Condos: 1.6 (down 56% YoY)
Single Family: 0.8 (down 44% YoY)

Median Sold Price -
Condos: $505K (up 5.2% YoY)
Single Family: $830K (up 5.1% YoY)

Average Days on Market -
Condos: 32.9 (up 4.8% YoY)
Single Family: 16.9 (down 15% YoY)

Sold/List Price -
Condos: 99% (up from 98% this time last year)
Single Family: 103% (up from 101% this time last year)

If you are a first-time homebuyer, there is a once-in-a-lifetime opportunity right now to lock in a low interest rate AND get into a condo before prices go up. Use a condo as a savvy stepping stone to your dream home in a few years, just like my clients did :-)

So so happy for my sellers, and getting things ready for the lucky buyer who gets the keys... and garage door opener... soon!

Something I'm not perfect at but I get better every day. ☀️It's empowering to take ownership of your own attitude ☀️

⚡️BREAKING REAL ESTATE NEWS:

➡️REI is selling it’s brand new Bellevue campus before anyone has even moved in. Work from home is really catching on for so many companies, but I’m a little worried about all my extrovert friends 💕

Is this a dream come true or a nightmare? Do we think this will be a long-lasting change?

https://www.washingtonpost.com/business/2020/08/12/rei-seattle-headquarters-commercial-real-estate/

REI plans sale of unused eight-acre headquarters campus as the retailer embraces remote work Company is abandoning its headquarters even before employees move in. It had planned to occupy the space starting this summer.

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Flashback to touring this gorgeous listing with ALLLL the unique and inspiring spaces no matter your creative outlet.
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One of my favorite parts of real estate is working with my clients to re-imagine a space, look beyond a current use.
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Have you found yourself trying to squeeze utility out of every last nook and cranny of your home?

What space of yours has surprised you the most?

In this new life, where is your current space coming short?

Everyone who has been 🏖 🌴 island dreaming 🌴 🏖 this week... I have JUST the thing for you!
⬅️Swipety swipe⬅️ to see what I mean. 😉 Spoiler alert: my game is STRONG.
Thanks to the wonderful .realtor for letting me bring you through this gorgeous new build with attached ADU in my fave up-and-coming Seattle neighborhood: GREENWOOD!

“Whenever you are engaged in work that serves humanity and is for the building of humanity, it has dignity and it has worth.”

we did it! Someday I’ll tell the story behind this one - until then I’m starting . It’s so rare that I get to brag about the broker on the other side of my transactions - and usually if I post these photos I strategically conceal the name of the other agent because why would I advertise someone else’s business 😂😂! This time is different because Tyler epitomizes the values expects brokers to uphold. I’m so grateful to be associated with a company that’s really raising the bar on this industry and only welcomes top professionals like Tyler, this guy is truly someone I admire so much!

I mean. When you have a chance to help with math centers in your child’s kindergarten class, you must not squander the opportunity to make a fool of yourself. How long before she’s embarrassed to have her mom in class? 😂 😂😂
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But seriously. I love running a business that lets me spend so much time helping my clients, and still lets me squeeze in time with my littles, being in their classrooms, take them to gymnastics... etc. I feel so blessed to be building a business that empowers me not only provide for my family but support others as well. It’s no easy task to grow in this industry so just sending a thank you to my clients and friends for helping me get this far! 😘❤️😘❤️😘 BIG projects ahead...

The days are soooo short this time of year, it’s easy to get lazy with our attitudes and blame the lack of sun. This cute little mug always reminds me to be just a little brighter to everyone around me. Even the simple ways you talk to people can make a huge difference. A lot of times just making an effort to brighten someone else’s day helps to brighten mine too. Sending you a little ☀️ and ❤️ as we close out a busy week!

Prepped and set for a productive weekend!

Juggling TWO open houses at once today! A lot of people hate hosting opens but it’s one of my favorite parts of this business. Getting the right real estate info out to future investors and getting these properties SOLD is a big responsibility but I’m so passionate about it! Big thanks to .pnw for letting me fill in for her while she enjoys a well-deserved vacay.

Wishing you safe and happy trick-or-treating, and sweet-eating! .
Here’s hoping we get around to carving those 🎃’s tonight!

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My insights for Pierce County
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Strong SELLER’s Market
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It’s no secret that buyers who’ve felt priced out of the Seattle metro are setting their sights on Pierce County and the Tacoma metro. The median sales price here has increased 10% from last September!
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Active listings are ⬇️down 29.6% from this time last year, while closed sales decreased by 1%.
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Average days on the market for Pierce is a 3% increase from last year at 32 days, which is right in line with what we saw for September in King and Snohomish counties.
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Our market rebalance throughout the last two summers has done wonders for spreading the ❤️ housing market love ❤️ around the greater Puget Sound area. @ Tacoma, Washington

My insights for Snohomish County
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SELLER’s Market
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My tag-line for SnoCo is *SNO MUCH NEW CONSTRUCTION*. Median sales price here was actually ⬆️up 2.5% for this time last year.
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Buyers are flocking to Snohomish County, whether it’s for space, great schools, newer residences, and more affordable prices (which are steadily trending upward after adjustment for typical cycles).
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Active listings are ⬇️down 16% year over year, while closed sales are ⬆️up 6.3% from last year!
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Though this stat is affected by a change in how new construction time on the market is tabulated to make it a better comparison to resale properties, average days on the market is at 33. That’s an ⬆️increase of 22% from last year, but a serious ⬇️decrease from FEBRUARY of this year when that number peaked at a whopping 49 days on the market. @ Snohomish County, Washington

My insights for King County
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SELLER’s Market
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In September buyers came out in full force! Though median sale price across the county was ⬇️down slightly from last year, on the east side it actually increased almost 4%!
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The overall climate of the market is completely different this year from the same time last year. 17.5% less available inventory for buyers to choose from, yet 7.5% more deals closed and days on the market saw over 50% increase across the board.
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In most cases buyers feel like they can take longer to make their decisions, in certain market segments they are visiting available properties up to 4 times before making an offer. @ Seattle, Washington

Brenna Violett updated their address.

Today we were tourists in our own town! I’m always on the hunt for inspiring living spaces and style- these two houses practically screamed for my attention. What can I say? I’ve always been a sucker for a pretty staircase and spirals always grab my eye. My dream house DEFINITELY has a spiral staircase, it probably leads to a lofted office space with a private deck. So what if it’s completely impractical?? What’s one feature on your dream-home must-have list?