Seattle homes for sale

Seattle Real Estate Blog

Local real estate news in the Greater Seattle market: Home prices and trends in Seattle, on the Eastside, and across the Puget Sound region. Written by , Managing Broker with Coldwell Banker Danforth and State Director for Washington REALTORS.

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Sept. 5, 2014

15206 238th Place SE, Snohomish WA 98296 - Echo Lake Home For Sale

15206 238th Pl SE, Snohomish WA 98296

15206 238th Pl SE, Snohomish WAThe perfect blend of rural and suburban feel--3 acres stretch from your contemporary home on a cul-de-sac to a wooded path and natural stream. Enjoy views of the wooded surroundings from nearly every room. The remodeled kitchen opens to the bright living and dining rooms, with the family room and den/office just off the entry. Upstairs has a huge bonus room plus 3 bedrooms including the spacious master suite with 5-piece bath, french doors, and skylight. RV parking/elec, A/C, wired for generator

See the full listing

MLS#: 690998

List Price: $535,000

Bedrooms: 3

Full Baths: 2

Half Baths: 1

Size: 2,651

Lot Size (sq ft): 132,422

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Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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Aug. 19, 2014

With Seattle Waterfront Real Estate Inventory Shrinking, Puget Sound and Lakefront Home Prices Climb

Median home prices for waterfront real estate in the Seattle area continue to climb as limited inventory increases buyer competition.  While the overall real estate market may be seeing a slight increase in available homes for sale, the number of waterfront homes listed for sale continues to hold at a very low threshold.

Seattle Waterfront Homes Available For Sale, Median Waterfront Real Estate Prices

Seattle waterfront real estate sales

King County saw a 14 percent drop in the number of waterfront properties listed for sale in the past 12 months.  There were just 260 listings on Puget Sound, Lake Washington, and other nearby lakefront areas this July, while at the same time last year 303 waterfront homes were available.

The lack of inventory and continued price strength in the local waterfront markets points to an increased interest in luxury properties in the greater Seattle region.  Waterfront homes make up a significant portion of the homes sold for over $2 million locally, but the median price of a waterfront property is usually closer to $1 million.

The median waterfront real estate sale for July 2014 was $950,000.  This was 36 percent higher than at the same time last year.  While that stat might appear to show rapid growth in waterfront home values, the small number of homes included and the vast range of waterfront property types makes a median price measurement a fairly unreliable measure.  Median prices were over $1.2 million just a few months ago, and we certainly haven't seen a 20 percent deterioration of prices during that time.

The overall trend for waterfront pricing, however, looks like slow, steady appreciation.  If the projections for the entire market hold true for waterfront homes in Seattle, we're likely to see single-digit price appreciation over the next year.  With a bit more seller listing inventory, we should see healthy sales that are near to the same sales numbers we saw one year ago.

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Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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July 29, 2014

South Sound Waterfront Home For Sale: 6220 SE Arcadia Rd, Shelton WA 98584

Our friend Heidi Gilbert just listed a beautiful lakefront property in the South Sound.  The custom cedar home has a separate studio cabin/guest house, and over 200 feet of waterfront on Forbes Lake.  With over seven acres of land, this property is a wonderful retreat while still being just 20 minutes from Olympia.

Here is the link to the active listing: 6220 SE Arcadia Rd, Shelton WA 98584

 

 

A few details:

• 236ft of Low/No bank Forbes Lake Waterfront, SW Facing

• 3044sqft Custom Cedar home

• 1600+sqft completely wrap around covered porch

• 20 skylights throughout Main home,porch & even in garage

• 70"Sony TV upstairs Included in Sale of home.

• New roof

• Newer Heat pump & Furnance

• Waterford Wood stove ( home has 3 sources of heat )

• Kitchen updates with New glass tile backsplash & counters

• Newer appliances – 2 full size ovens ( one is in the Island )

• Upstairs is plumbed for wet bar – by computer wall 

• New carpet & Flooring

• Excellent Fishing lake - has Bass, Trout, Catfish 

• (No public lake access & only 14 homes on the lake.

• 20 Ft floating Dock

• 360sqft CABIN w/Own its Kitchen & Bath

• 7.62 Acres

• 1035sqft Garage/Shop

• Very Large RV Pad - RV Electric hookup & water

• High Speed Internet & Cable available here, in all rooms

• Only 1 mile to Arcadia Point Boat ramp – For Salt Water too

• Owned Propane Tanks 750 capacity (500 & 250)

• Only 20 mins to Olympia

• Private well – Culigan Water filter system in Garage

• Fire pits up by house & down at Lake

• Powder coated custom black iron gate 

• ADT Alarm system

 

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Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County REALTORS® - State Director, WA REALTORS®
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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July 24, 2014

Seattle Makes "Fastest-Moving" and "Most Attractive to Millenials" Lists for Real Estate

The Seattle real estate market has been in the headlines quite a bit recently.  The continued strength of home prices and sales has landed our region in the top slots for a variety of different measures.

Realtor.com's latest rankings of the fastest-moving real estate markets put Seattle at #3 with an average of 30 days for a property to sell.  The top ten cities were:

1.    Denver, Colo.: 20 days
2.    Oakland, Calif.: 27 days
3.    Seattle-Bellevue-Everett, Wash.: 30 days
4.    San Jose, Calif.: 32 days
5.    San Francisco: 34 days
6.    Anchorage, Alaska: 36 days
7.    Boulder-Longmont, Colo.: 38 days
8.    Stockton-Lodi, Calif.: 39 days
9.    Sacramento, Calif.: 40 days
10.  Omaha, Neb.: 43 days

To see where the youngest home buyers are heading, the National Association of REALTORS® recently did some research on where millenials are moving.  The best home purchase markets across the country were selected through analysis of housing conditions, job creation, and population trends.

Seattle once again came out in the top 10 for Millenial markets.  This shouldn't be a big surprise to the locals who know how much young tech talent continues to pour in to our area every week.

The top 10 cities for Millenials, in alphabetical order, were:

  • Austin, Texas
  • Dallas
  • Denver
  • Des Moines, Iowa
  • Grand Rapids, Mich. 
  • Minneapolis
  • New Orleans
  • Ogden, Utah
  • Salt Lake City
  • Seattle

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Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County Realtors - State Director, Washington Association of Realtors
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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June 20, 2014

Bellevue Home Sales: $750k Median Prices + 15% Appreciation = Heated Real Estate Demand

Home sellers in Bellevue can do no wrong right now.  The real estate downturn that started seven years ago seems to be a distant memory, as the Bellevue market has warped into an inventory-crunched, pent-up demand, rabid marketplace of home buyers.

The average sale price of a home in Bellevue last month was 3 percent above its list price.  Sale-to-list price ratios have been above 100 percent since January.  Almost every home that comes on the market, and is priced reasonably, is selling right away.  Multiple offers and bidding wars are the norm.  The only question mark in the market right now is: Why aren't more homeowners putting their homes on the market?

Bellevue Homes Median Sale Prices, Sale Price to List Price Ratio, Residential Properties Through May 2014

Bellevue homes for sale, real estate

As of the end of May, the median home price for sales in the Bellevue real estate market was $782,000.  This includes the city of Bellevue and its smaller incorporated enclaves of Medina, Hunts Point, Yarrow Point, Clyde Hill, and Beaux Arts.  This median sale price was a 13.3 percent increase over the same time last year.  Double digit appreciation isn't expected to continue long-term.  Most projections show slower, steady growth in the coming years.

Within the city of Bellevue itself, the median home price was just a bit lower at $747,975.  That's 14.6 percent year-over-year appreciation, a rise in prices that outstrips most of the greater Seattle market.  While the median home prices in the Bellevue area are high, there are still single-family homes available under $400,000.  Condos can be found under $200,000 in Bellevue.  They are a small part of the local market, but they do exist.

Searching for Bellevue homes for sale:

If you're looking for a home in Bellevue during this fast-moving market, you can't depend on a national website that takes days to update with new listings.  You need the direct daily feed from the MLS to find homes the first day they're listed by real estate agents.

Your choices:

Search all Bellevue homes for sale

Click on the map below to search Bellevue homes by neighborhood:

Bellevue neighborhoods map

Select from the neighborhood list below:

 

See the real Seattle market.  Try The Seattle Homes App.  100% of MLS listings, updated daily.

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County Realtors - State Director, Washington Association of Realtors
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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June 2, 2014

Everything is Selling: Seattle Home Prices Jump 5.3% in May, Sellers Getting 102% of List Price

Home prices in Seattle saw a huge leap in May, with the median sale price of a single family home rising to $481,250.  According to figures from the NWMLS, that price increase represented a 5.3 percent rise over just one month ago when the median price for a house stood at $457,000.

Median Sale Prices, Sale-To-List Price Ratio, Seattle Single Family Homes, May 2012 - May 2014

Seattle home prices May 2014

The rising values contributed to a 7.1 percent year-over year hike in median prices for the city of Seattle, with the preceding year's May sales landing at just under $450,000.  It's just another month of competitive buyers, bidding wars, and sellers who haven't seemed to shake out in nearly large enough numbers.

Why would sellers want to list today?  On average, homes are selling for 102.1 percent of their list price.  Most of we see come on the market in popular neighborhoods sells in its first week.  It's almost difficult to find the correct hyperbole for the situation without sounding asthmatic.  As long as sellers are staying within striking distance of the most recent comps when they price their home, it's sold.  We've been working with buyers who are consistently offering above recent comparable sale prices and current listing prices, and are met with numerous competitive offers in almost every situation.  It feels like a feeding frenzy.

This isn't to say that all markets have recovered.  There are plenty of areas across the country that are still in a slow recovery mode, and even parts of the Puget Sound region that haven't made much of a comeback yet.  Housing prices in Seattle are still around 15 percent lower than they were at the peak.  

It's just becoming more clear by the day that our lack of inventory--resale and new construction--is severely restricting the buying market.  Seattle home buyers are ready, eager, and pre-qualified.  We just need to find them some listings.  Can you hear us, potential home sellers?

See the real Seattle market.  Try The Seattle Homes App.  100% of MLS listings, updated daily.

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County Realtors - State Director, Washington Association of Realtors
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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May 25, 2014

The Real Estate Battle In Seattle: Everybody Loses On Their First Try

If you've been following the real estate market in the Seattle metro, you know it's more competitive than it has been in maybe a decade. Available inventory continues to fall, with less than two months' inventory now hitting a one year streak (balanced markets have 5-6 months' inventory). Sellers continue to get higher prices for their homes, and greater returns over the list price (the average sale price in Seattle right now is 102% of the list price). In short, every sale is a battle.

Seattle Real Estate: Months of Inventory vs. Sale to List Price Ratio

Seattle real estate battle

It's a tough time for buyers. Everyone seems to understand that financing terms are still outstanding, the local economy is booming, and home prices are projected to rise moderately for the next few years, creating a healthy investment environment. Whether it's downtown or on the Eastside, everyone realizes it's a great opportunity.

Everyone, that is, except for sellers. There's some perception by sellers that if they list their homes, even if the time seems right, they won't be able to find somewhere else to move when it sells. That self-fulfilling prophecy is, of course, questionable logic for someone who'd really like to move into a larger home or a different neighborhood, because their ability to finance that next property will probably never be better than it is now. The reality is, though, that sellers are not listing enough properties at the moment, and buyers are crawling over each other to get into a home.

This is particularly difficult for first time buyers. We're seeing folks who are absolutely committed to buying a home, visiting properties the first day they're on the market, and making offers the first weekend. They've gotten pre-approved, have good jobs, and are ready with down payments. They also, almost inevitably, will lose out on their first try. It's not just first-time buyers, either, this affects nearly any buyer who is financing a purchase.

It's not their fault. It's in our nature to try to get a deal. Most buyers, when they write their first offer, are afraid of over-paying. They want to make sure they don't leave money on the table, so they make a frugal offer for their attempt at buying. It doesn't work in this market.

There are no discounts in the Seattle market right now--period. Either the home sells in the first week, or it was significantly overpriced.

Of course there are exceptions to that statement. Unique properties, luxury price ranges, and quirky locations can cause certain homes to linger on the market longer. For the vast majority of homes that serve the "average" Seattle population, though, they're going to sell for full price, the first week on the market.  If they're priced appropriately, they're going to get multiple offers.

So, what can a buyer do to stand out from the crowd and secure a home in this market?

Be prepared. Get a pre-approval letter from a reputable local lender. Real estate agents like to call up your lender and make sure you're a rock-solid home buying candidate. That automated letter from Quicken Loans or some other online outfit doesn't give us a warm fuzzy feeling.

Be available to be timely. If you need to write an offer on a Sunday morning, so be it. Multiple-offer situations are all different. Some sellers will review your offer immediately, others will review all offers on a specific date. Your agent will be able to guide you through the most effective way to present your offer with the nuances that most consumers aren't exposed to.

Be flexible. Maybe a certain home calls for you to speed up your inspection, or allow the seller to have 3 days after closing to move out. In this market, as a buyer, you're not in the driver's seat. Clearing any hurdles for the seller will make your offer more palatable to them.

Be creative. I've written before about the value of a personalized home buyer's offer letter. Sometimes they make no difference whatsoever. Other times, they're the winning ingredient in your offer. I've had sellers in multiple-offer situations give my buyers the opportunity to match the highest competing offer and buy their home because they liked the letter and the people they imagined living in their home. It's worth the effort.

You don't have to lose out on your first home buying offer, but most will. That's just the odds. When you're ready to really get into a home, though, understand that it will be a competitive process but you'll eventually be able to buy. Missing out on one home isn't the end of the world, but making well-constructed, competitive offers in this market will ensure that within a reasonable number of attempts, you'll find yourself in a home.

See the real Seattle market.  Try The Seattle Homes App.  100% of MLS listings, updated daily.

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County Realtors - State Director, Washington Association of Realtors
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

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May 21, 2014

Edmonds Condo: New listing for sale - 503 6th Ave S Unit 4, Edmonds WA 98020

Edmonds condo for sale - 503 6th Ave S Unit 4, Edmonds WAA great new condo listing just popped up, overlooking Old Town Edmonds.  It's a great property if you're looking for a walkable neighborhood, proximity to beautiful Puget Sound beaches and ferries, as well as a serene, quiet home.

The private deck has a great view of the Olympic mountains, and it has quite a master suite.  Let us know if you'd like to see it in person.  

Here are the listing details (courtesy of Chavi Hohm and Kim Colaprete, Coldwell Banker Bain):

  • Taxes: $2,967
  • HOA Dues: $375 (H20, Sewer, Garbage, Earthquake Insurance, & Building Maintenance)
  • Updated Kitchen with New Stainless Steel Appliances
  • New Interior Wood Doors
  • Spacious Walk-in Closet for Large Wardrobe
  • Wired for Media Center with Surround Sound New Siding and a Replaced Roof
  • Two Renovated Baths with New Fixtures and Back Splashes
  • Picture Perfect Patio for Summer Sunsets Views of the Olympic Mountains
  • Large Extra Room Perfect for a Home Office or Out-of-Town Guests
  • Two Parking Spots (#4) & Storage Unit in Secure Garage 

Here is the live listing.  Get it while it's hot, this market is moving fast:

503 6th Ave S Unit 4, Edmonds WA 98020

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April 22, 2014

What's Your Home in Seattle Worth? Get An Instant Property Value Online

Seattle home valuationThere is a new tool giving Seattle-area homeowners access to instant property valuations online.  While every online valuation needs some flexibility since you can't price a home without seeing it in person, this tool takes into account some of the best sources of data for the valuation.

What's My Seattle Home Worth?

The Seattle Homes Property Value Tool takes into account public sales data from the area, the sale history of the home, rent values nearby, and property detail changes to give a range of likely value for the home.  With a low range, high range, and confidence factor, a homeowner can estimate how close the tool may be to the actual price they might want to list their home for if they're thinking of selling.

Of course, if you're looking for a true valuation, you need a Realtor to do a professional review of the home, upgrades, surroundings, and current market conditions to create an accurate price, or a Comparative Market Analysis. Analyzing recent sales from the MLS will allow your Realtor to get the most up-to-date market information and price your home appropriately if you decide to put it on the market.

If you're thinking of selling, feel free to call or email us and we can put together a free CMA for you.  If you'd just like to dip your toes in the water for now, give the online valuation tool a try.

Seattle Homes Property Value Tool

See the real Seattle market.  Try The Seattle Homes App.  100% of MLS listings, updated daily.

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County Realtors - State Director, Washington Association of Realtors
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

Stay informed:  Subscribe for automatic email updates

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April 15, 2014

Is There A Real Estate Bubble in Seattle? Inflation and 11% of our Home Equity Says No.

Home prices are on the rise in Seattle, and home buyers who remember the last real estate downturn well are mindful of the possibility of another drop in real estate prices in the future.  So, are we building up to another Seattle real estate bubble?

The most recent data say "No."  While home prices have certainly appreciated in the area for the past few years, much of those gains were simply due to the long-term necessity of reversing that extended real estate downturn of the late 2000s.  Price appreciation, according to historical data, is the unequivocal course of real estate for the long-term, due in large part to inflation.  

Seattle Home Prices and Active Real Estate Listings, 2004-2014

No Seattle Real Estate Bubble

Home prices in Seattle are still almost 11 percent lower than they were at the real estate peak in 2007.  August 2007's median home price for the city of Seattle was $498,000.  As of last month, our current median was at $444,000.  There's no rush to get back to those peak levels immediately, but idea that we're nearing a bubble similar to what we saw in 2007 just doesn't pan out yet.  

There's a bigger reason for this, when we look at the long-term effects of the economy.  Inflation makes general consumer prices rise, no matter if the market is hot or cold (we rarely see price deflation in the overall U.S. economy).  In 2007 we saw 2.8 percent inflation.  In 2008, as the downturn really got rolling, we hit 3.8 percent.   The worst economic year we've seen in decades saw just a 0.4 percent deflation rate, which was immediately wiped out by 1.6, 3.2, 2.1, and 1.5 percent inflation rates through 2013.

The big picture here?  We've probably seen price inflation across the country of around 15 percent since 2007.  Of course, this doesn't translate directly to home prices, but the overall takeaway should be fairly clear--home prices today are nowhere near what they were during the last real estate bubble.  The situation is vastly different, and while that in no way guarantees a healthy real estate market going forward, it certainly makes the comparisons to 2007 unwise.

See the real Seattle market.  Try The Seattle Homes App.  100% of MLS listings, updated daily.

New real estate listings in SeattleDetailed Seattle home searchWhat is my Seattle home worth?

Seattle Homes Group

© Seattle Homes Group: - Sam DeBord, Managing Broker, REALTOR®, Coldwell Banker Danforth

Director, Seattle King County Realtors - State Director, Washington Association of Realtors
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Statistical source if not otherwise noted is NWMLS. The Northwest Multiple Listing Service did not compile or publish this information.

Stay informed:  Subscribe for automatic email updates

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