Condos

After a big jump in condo inventory back in May on Seattle's Eastside, the number of condos for sales continues to slowly creep up.  Pending condo sales were up slightly each of the past few months, but seemed to have peaked back in the spring.  Still, over 50% of the condos sold last month. The average market time was 36 days and median pricing war, $265,000.  The most active month so far this year was back in April, when 95% of the condos for sale sold!  It's still a good market. 

If you'd like more information about the condo market or your condo in particular, please feel free to contact us. We're here to help!

Posted on September 23, 2014 at 4:15 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate, Seattle real estate | Tagged , , , ,

Did Our Gorgeous August Affect Real Estate Sales On Seattle’s Eastside?

 

The end of summer brought the first decline for Seattle Eastside home sales this year.  I wouldn't get too alarmed, though, as sales dropped by only 2.5%.  August always seems to be a slower month as people rush to get kids ready for school or cram those last summer weekends full of fun activities.   The number of pending sales this year, 768, is very similar to last August, when 776 homes sold. 

The market did not die after last August and it will not die after this August.  The real estate market tends to get back to business as usual after Labor Day weekend. 

In August, 42% of the homes for sale sold on Seattle's eastside, the lowest absorption rate for the year.  The peak of sales activity, as it is every year, was back in the spring.  In March, 67% of the homes for sale sold and in April 68% sold.

Days on the market are still low as it is only taking 38 days on average to sell a Seattle eastside home.  Median pricing was up to $600,000.  Last August it was $515,000.

If you'd like more information about the real estate market and the value of your home, don't hesitate to contact us.

Posted on September 15, 2014 at 6:11 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Real Estate | Tagged , , , , , , , , ,

A Healthy Market for Condo Sales in July on Seattle’s Eastside

Seattle Eastside Condo sales are still strong with 60% of the available condos selling in July.  The average market time was 29 days and median pricing was about the same as last year, $270,000.  The most active month so far this year was back in April, when 95% of the condos for sale sold!  It's still a good market.  More than 1/2 the condos sold last month, a very good and healthy number of sales. 

If you'd like more information about the condo market or your condo in particular, please feel free to contact us. We're here to help!

Posted on August 19, 2014 at 10:42 am
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics | Tagged , , , ,

July 2014 Real Estate Performs As Expected on Seattle’s Eastside

The most number of homes for sale so far this year?  No big surprise.  We've seen the same roller coaster of real estate activity on Seattle's eastside every year.  The market was still strong as almost 50% of Seattle eastside homes sold in July. The peak of sales activity, as it is every year, was back in the spring.  In March, 67% of the homes for sale sold and in April 68% sold.

In July,  we have the most number of homes for sale so far this year, although August could top that number.  Days on the market are still low as it is only taking 38 days on average to sell a Seattle eastside home.  Median pricing was up to $625,000.  Last July it was $575,000.

Fall can be a great time to either buy or sell a home.  There are buyers who will get serious as the cool weather approaches, wanting to get into a home before the end of the year.  Don't discount the holidays either.  Competition for buyers is so much less during that time.

If you'd like more information about the real estate market and the value of your home, don't hesitate to contact us.

Posted on August 18, 2014 at 8:34 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Real Estate, Windermere Real Estate | Tagged , , , , , , , , ,

Seattle Eastside Condo Sales Remain Steady in June

 

Numbers have been holding more steady in the last couple of months for Seattle Eastside Condo sales as the pattern is not all that different from May to June.  Although, slightly more condos were for sale and slightly fewer sold in June.

In June 63% of the condos sold.  Median pricing for condos stood at $291,000 up from $279,000 in 2011.  Condos took 32 days to sell on average and sold for 99% of the asking price. 

If you'd like more information about the condo market or your condo in particular, please feel free to contact us. We're here to help!

Posted on July 17, 2014 at 8:33 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate, Windermere Real Estate | Tagged , , , ,

Is Summer The Busiest Time for Real Estate on Seattle’s Eastside?

No matter how many times people hear the market is the most active in the spring, many people think summer is the busiest time.   Summer is still a great time to sell, but now that we're into an absolutely fabulous July, buyers often join friends and family for weekend outings.  It can cause the activity to slow down a bit, but it does not go away by any means.  In fact, we tell sellers to expect more activity during the week.  With the days at their longest for the year, buyers often prefer to see homes after work and save weekends to enjoy the spectacular weather. 

Can a well priced, terrific home still sell for more than full price with multiple offers in our current market?  Yes.  We just sold one of our listings at 10% over the asking price.  There were seven offers.  Inventory is low, but inventory for great homes is even lower, so those go fast and for top dollar.

Expect to see the number of homes for sale continue to increase. This will, hopefully, give buyers a few more choices and a little breathing room.  The total number of homes for sale is still very low, while demand remains high, so sellers should still see a lot of action.

This is what I said in last month's post regarding the Seattle Eastside real estate market.  It's proving to be true, which is not a big surprise to Brooks and me.  We've seen this very same cycle over the years.  Every summer there's a spike in homes for sale.  But the lack of inventory will still keep Seattle Eastside real estate activity strong. 

So how was June real estate on Seattle's eastside?  Median pricing stood at $645,000.  Homes sold well, with 57% of the available homes sold with an average market time of 32 days.

If you'd like more information about the real estate market and the value of your home, don't hesitate to contact us.

Posted on July 16, 2014 at 8:21 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate | Tagged , , , , , , , , ,

A Slight Shift in The Condo Market on Seattle’s Eastside?

Has there been a shift in the Seattle Eastside condominium market? What could be a shift is shown by the big jump in inventory to 375 available condos from 288 in April and the slight decline in sales over the last couple of months.  Seattle Eastside condo sales are still fabulous, although more condos sold in March and April than in May. 

The pattern we saw in 2013 is playing out once again.  The real estate market is always at its most frenetic during the first quarter of the year.  As the year progresses, more property becomes available, giving buyers more choices.  Add in our usually gorgeous summer weather when people spend more time playing and traveling than searching for homes, and we'll see a strong market through the summer, but not as crazy as the spring.

In May 68% of the condos sold, a very solid number and in many years over the last decade, this number would have been phenomenal.  Given the past couple of years with sales off the charts, 68% is a very respectable and healthy number of sales. 

Median pricing for condos was similar to March and stood at $270,000.  Condos took 30 days to sell on average and sold for 99% of the asking price. 

If you'd like more information about the condo market or your condo in particular, please feel free to contact us. We're here to help!

Posted on June 13, 2014 at 6:02 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, King County Real Estate, Market Statistics, Real Estate | Tagged , , , ,

Seattle Eastside Homes Are Still Moving Well!

 

I was talking with a fellow Realtor earlier today who commented on a home that had taken a long time to sell and it was only on the market for 18 days!   Since every home with a "for Sale" sign in front of it sold in a heartbeat during the first quarter of the year, 18 days now seem long.  In reality, it's still an amazingly quick sale time.  In May, Realtors started to see a slight change in the marketplace as not all homes sold immediately with multiple offers.  Some homes sold in a week to a month.

The Seattle Eastside real estate market is still going gangbusters, despite a jump in the number of homes for sale in May.  The increase in inventory from April to May is the exact opposite of the decline in the number of homes for sale  that we experienced in the marketplace last October into November.   Inventory increased from April to May by 19% and dropped about that much last fall.  Neither change in inventory was a huge surprise.  Many sellers choose not to list their homes as the holidays approach. Conversely, spring into summer often experiences an increase in inventory.  Mind you, the demand is strong for housing and inventory is still very low, it's just been creeping up since the first of the year. 

Expect to see the number of homes for sale continue to increase. This will, hopefully, give buyers a few more choices and a little breathing room.  The total number of homes for sale is still very low, while demand remains high, so sellers should still see a lot of action.

So how was May real estate on Seattle's eastside?  Median pricing stood at $619,000.  Homes sold well, with 69% of the available homes sold with an average market time of 33 days.

If you'd like more information about the real estate market and the value of your home, don't hesitate to contact us.

Posted on June 12, 2014 at 5:52 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate | Tagged , , , , , , , , ,

Almost Every Listed Condo on Seattle’s Eastside Sold In March!

 

You know the condo real estate sales are hot when 95% of all the listed properties sell in one month. Of the 312 condos for sale, only 14 did not sell last month! Honestly, I've been working in Seattle eastside real estate since 1987, and I don't believe there has been a month when almost every condo sold. 

Median pricing for condos stood at $274,000.  Condos took 42 days to sell on average and sold for 99% of the asking price.  Given the relatively small inventory of condos, none of these statistics is a big surprise. 

So buyer, be armed and ready with a great offer to win one of the few condos for sale.  Consider pre-inspections and make the cleanest offer possible when stepping up to the plate. 

If you'd like more information about the condo market or your condo in particular, please feel free to contact us. We're here to help!

Posted on April 17, 2014 at 4:35 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate | Tagged , , , ,

Real Estate Sales Marched Through March on Seattle’s Eastside

It's a pretty crazy real estate market out there on Seattle's eastside.  The fever pitch of the real estate market is running high right now.  Buyers and their agents are having to be far more creative with their offers to be the buyer who wins the house.  Pre-inspections are the norm, something that has been very common place in Seattle's market.  Buyers are willing to bring more money to the table if needed to make a sale happen.  Many listing agents are holding offer review, often for a week, to give good exposure to a home.  Buyers then have an opportunity to look at the home more than one time, pre-inspect if they so choose, and plan their offer strategy.   It's a competitive market, but it gives an opportunity for a buyer to make a more educated decision.

Appraisers are having to be more creative to find comparable sales to demonstrate value.  However, it's often hard to dispute the value of sales simply because there are so many mulitiple offers.  it's not just one buyer who steps up to the plate to buy a house, it's usually a number of buyers.   I've heard of all kinds of numbers of buyers bidding on one house, 3, 5, 7, 9, and on.

So how was real estate in March on Seattle's eastside?  Median pricing was just up over $600,000, only the second time in years, and I mean years.  Homes sold briskly as  71% of the available homes sold last month with an average market time of 54 days. If no other homes had come up on the market, it would have only taken a month and a half to sell off all the inventory of homes.  As I said, there is a fever pitch to the real estate market.

If you'd like more information about the real estate market and the value of your home, con't hesitate to contact us.

Posted on April 15, 2014 at 7:46 pm
Sinick and Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, King County Real Estate, Market Statistics, Real Estate | Tagged , , , , , , , , ,