Q3-2020 Market Trends (Seattle, Eastside, Bainbridge Island)
The real estate market has largely been a beacon of positivity in an extraordinary year. Every quarter, Realogics Sotheby's International Realty (RSIR) looks at these five market areas to determine where our market has been and plan for where it is going next.
Buyers Are Finding More Space in the Luxury Home Market
A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market.
Two New Surveys Indicate Urban to Suburban Lean
There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide.
The Top Reasons People Are Moving This Year
Like many Americans, Seattleites are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow…
Buyer & Seller Perks in Seattle’s COVID-19 Housing Market
Whether you're thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two.
Unemployment Report: No Need to Be Terrified
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%.
2020 WA Market Report Just Published
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.
Looking to the Future: What the Experts Are Saying
When looking at GDP (the measure of our country’s economic health), a survey of three leading financial institutions shows a projected sharp decline followed by a steep rebound in the second half of this year:
Covid-19 // What the top Realtors in Seattle are doing
Here's how Danny Varona is helping buyers and sellers in Seattle stay safe without completely putting off their home buying/selling journey.
Opportunity in the Luxury Market This Year
At the start of last year, many of the more expensive homes listed for sale hadn’t seen as much interest, since much of the demand for housing over the past few years has come from first-time buyers looking for starter homes. It looks like buyer activity, however, is starting to show a shift in this segment.
The #1 Misconception in the Homebuying Process
Many believe when real estate values are increasing (in cities like Seattle), owning a home becomes less affordable. That misconception is not necessarily true.
The Top US States Americans Moved to in 2019 (INFOGRAPHIC)
Americans are on the move, and the most recent Atlas Van Lines Migration Patterns Survey tracked the 2019 traffic flow from state-to-state. Idaho held on to the top spot of ‘high inbound’ states for the second time since 2017, followed by Washington State.
The #1 Reason to List Your Seattle House Right Now
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
Homeownership Rate on the Rise to a 6-Year High
Regardless of the lack of inventory on the in the US and local Seattle market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years.
How Pricing Your Home Right Makes a Big Difference
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.
Where Have All the Houses Disappeared To?
If you’re following what’s happening in the current housing market in Seattle, you’ve seen how the lack of newly constructed homes is a major reason there’s a shortage of housing inventory available to today’s buyers.