Good morning, RSIR Nation! I'm curious to see if history will repeat itself. A century ago, America rolled into one of the most transformative eras of economic growth and lifestyle pursuits with the first world war over, a booming stock market, integration of consumer debt products (leverage) and new innovations. This was the birthplace of many personal liberties, good times and prosperity. A lot of the convenience was brought by the mechanical devices that made life better. American cities flourished.

With 2020 sales volumes rising nearly 70 percent year-over-year to $2.8 billion, Realogics Sotheby’s International Realty congratulates Danny Varona and his team for closing $58,000,000 in luxury residential real estate transactions in 2020. The team ranked #1 top producing team in 2020 within Realogics Sotheby’s International Realty (Kirkland office).

The November Case-Shiller Home Price Index reported that for the tenth consecutive month, the Seattle metro area remained second in the nation in terms of residential price growth year after year after nationwide leader Phoenix. For the fourth month, San Diego remained in third place, outranking Tampa in August for the first time. In all three of these top cities, residential price indices rose year-over-year at rates between 12 and 14 percent. Over the same period, no other West Coast city has seen prices increase by more than 10 percent.

Sotheby's International Realty today announced that, with the opening of Elite Sotheby's International Realty, its presence in Ohio is expanding. The addition marks the continued growth of the brand in the state and its third Ohio affiliated company. Ken Schmidt and Mike Schmidt are the owners of Elite Sotheby's International Realty and will be headed by Managing Broker Joanne Zettl.

There's a lot to think about with 2020 in the rearview mirror and so much we have to look forward to, as you'll see in the RESIDE® Winter Issue. After such a challenging year, we all learned the value of where we call home is more important than anything—and together with our 375-plus brokers and staff, we have brought more families and their homes together, across all price points and property types than ever before.

As Fast-Growing Brokerage Earns Top Ranking for Luxury Sales and Productivity per Broker in 2020, Gross Sales Production increased 69 percent; Executives Plan Roster & Division Expansions in 2021

The strongest headwinds caused by COVID-19 in 2020 were in urban centers across the country. According to S&P/Case-Shiller reports, Downtown Seattle was not sheltered, despite the Seattle metro area commanding the highest aggregate median home price increases in the U.S. for most of the year.

Dean Jones, Owner and CEO of Realogics Sotheby's International Realty, confidently welcomed the public to the B-Bar: a by-day café and restaurant, and evening wine bar that works in concert with the Bellevue flagship brokerage office. Dean Jones, along with co-owner and CPO Stacy Jones, cut the ribbon with longtime restaurant owner Joe Vilardi and Bellevue Mayor Lynne Robinson to formally open the B-Bar and office in downtown Bellevue on Old Main Street.

Last Friday, the Bureau of Labor Statistics (BLS) released its latest jobs report. It revealed that the economic shutdown made necessary by COVID-19 caused the unemployment rate to jump to 14.7%.

Danny Varona and Realogics Sotheby’s International Realty proudly presents its annual summary of the Real Estate Market in Western Washington. Each year, this in-depth analysis provides data and information by market areas and reflects on how the news events of the past year could economically impact the home buying and selling process.

The success of the Seattle real estate market, like the overall US housing market, is determined by supply and demand. This means we need to look at how many potential purchasers are in the market versus the number of houses that are available to buy. With early 2020 housing data now rolling in, it’s quite evident there are two big stories impacting this year’s residential real estate market

Even though there’s a big buyer demand for homes in today’s low inventory market in Seattle, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.