You’re Invited to the Windermere Cut Party!

Come join us at the Windermere Cut Party on Friday, May 5 as we kick off Windermere Cup weekend!

On Friday night, we’re holding a Cinco de Mayo party to celebrate another year of the annual Windermere Cup. We’ll be on the Montlake Cut with taco trucks including El Camion, Taqueria Tonita, and Tacos La Flaca.

Keeping you entertained all night will be live music from Brian DiJulio and the Lovejacks and Spike & the Impalers.

Mark your calendars and purchase your tickets! We’ll see you on the cut with tasty tacos, live music, lawn games, and a fantastic beer and margarita garden from 6-10pm next Friday, May 5th.

Don’t forget! You can come back down to the Montlake Cut the next day on May 6 for Seattle’s biggest free sporting event – The Windermere Cup. More info on WindermereCup.com.

What Sellers Want Today

The National Association of REALTORS® recently released their 2016 Profile of Home Buyers and Sellers. Here are a few items about sellers that we thought you’d find interesting.

• The primary reason sellers choose to move is to find a larger home, or to be closer to family and friends.

• The vast majority of sellers move to a new home in the same state.

If you’re looking to buy or sell your home, reach out to a Windermere Real Estate broker to help you successfully navigate the Seattle housing market.

Local Market Update – April 2017

While we finally saw an increase in new listings in March, there was an even greater jump in sales. Lack of supply continued to push prices to new record highs. For the fifth straight month, our region has experienced the sharpest home price increases of any major market in the country. While that may be tough news for buyers, here’s the other reality: rents in the city of Seattle have increased 57 percent in the last six years. Brokers are hoping that more sellers will jump into the market this spring to help meet buyer demand.

Eastside

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After setting a price record in February, the Eastside set yet another record in March. The median price for a single-family home sold in March jumped 18 percent to $870,000. The strong appreciation is reflected in this statistic: For the first three months of 2017, the number of homes sold priced at $1 million or more was up 60 percent compared to the same period a year ago. What was once considered a luxury price tag is now the new normal.

King County

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Home prices in King County are growing about twice as fast as the national average. The median price of a single-family home sold in March soared 13 percent over last year to $599,950, an all-time high. Even though new inventory was added, it was snapped up as soon as it came on the market. About 75 percent of homes sold within the first 30 days.

Seattle

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With just two weeks of inventory available, demand in Seattle remains as strong as ever. Packed open houses, multiple offers, and escalation clauses continue to be the norm. The pressure on inventory pushed prices here to yet another all-time high. The median price of a single-family home in the city increased 9 percent over a year ago to $700,000.

Snohomish County

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Snohomish County set a new price record for the second straight month, with the median price of a single-family home up 10 percent from a year ago to $425,000. Supply is very limited, with just over two weeks of available inventory. Buyers looking for some relief from King County’s hefty housing prices are adding to the competition for a limited supply of homes.

What Buyers Want Today

The National Association of REALTORS® recently released their 2016 Profile of Home Buyers and Sellers. Here are a few items about buyers that we thought you’d find interesting.

• The top reason buyers purchase a home is they want a place of their own.

• Buyers chose homes fairly close to their last residence. In our region, buyers purchase a home within a 13 mile radius of their last residence.

If you’re looking to buy or sell your home, reach out to a Windermere Real Estate broker to help you successfully navigate the Seattle housing market.