Windermere Living – Summer 2018

The Summer 2018 issue of Windermere Living showcases a number of great articles, including an expose on Seattle Summers, posh patio designs, an exclusive interview with world-renowned Chef Marcus Samuelsson, as well as pages upon pages of beautiful homes!

Windermere Living is the exclusive listings magazine published by Windermere Real Estate. Read the online version by clicking on the image below.

Windermere Living Summer 2018 Cover

Local Market Update – May 2018

Another month, another record. Despite a slight uptick in inventory that showed the highest level of active listings since last August, both King and Snohomish counties saw home prices in April hit all-time highs. There is less than one month of inventory available in both counties, far below the four to six months of supply that is considered “balanced.” As long as the severe shortage of homes remains, improving supply is unlikely to reverse rising prices.

Eastside

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With the median price on the Eastside hovering at just under $1 million, you’d expect a softening of the market. Instead, sales were strong at every price point. The median price of $943,000 was a slight dip from the record of $950,000, but up 7 percent from last April. That does show some price moderation. According to Windermere Chief Economist Matthew Gardner, mortgage rates are expected to increase modestly in the coming months, which he predicts should further moderate price growth.

King County

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After setting a record in March, the median price of a single-family home in King County hit a new high of $725,000 in April. Prices soared 16 percent over a year ago, an increase of $100,000.  The rising cost of both rental and home prices is taking its toll. According to a new study, 68 percent of King County residents rate the quality of life here as high but 35 percent said the cost of living is the worst problem in the county.

Seattle

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The median cost of a single-family home in Seattle was $819,000, unchanged from March but up 13 percent from a year ago. There doesn’t appear to be any price relief in the near future. The booming job market in Seattle continues to fuel housing demand that far exceeds supply. As a result, home prices are predicted to rise at above-average rates in the coming year.

Snohomish County

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In Snohomish County, the median price of a single-family home exceeded half a million dollars, setting a new record for the region. The typical home cost of $505,975 in April was up 15 percent over the same time last year. Despite record-setting prices, the area continues to draw buyers seeking to find more affordable housing options. Of the 100,000+ people who leave King County each year, the majority move to Snohomish County.

Local Market Update – April 2018

Despite the typical seasonal surge in new listings, supply in our area continued to fall far short of demand in March. With just two weeks of available inventory in every market, competition for homes is intense. The result was another month of double-digit price increases as compared to a year ago. The region has now led the country in home price increases for 17 months in a row. The prediction for the spring market: HOT with no signs of cooling.

Eastside

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The median price of a single-family home was up 6 percent over last March to $926,000, down slightly from the record-setting price last month. Sales were brisk at every price, including the luxury market. Sales of homes priced at $2 million or more were up 23 percent in the first quarter of 2018 as compared to the previous year.

King County

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A booming economy combined with insufficient inventory propelled prices to an all-time high in March. The median price of a single-family home in King County jumped 15 percent to $689,950. Multiple offers remain the norm. Buyers here need to plan on moving very quickly and working with their agent on strategies to navigate bidding wars.

Seattle

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The median home price in Seattle set a new record of $819,500 in March, up a whopping 17 percent from a year ago. Homes are selling within days of being listed. Only 19 single-family homes are currently on the market in Ballard and just 24 in Queen Anne. South Seattle, traditionally the most affordable part of the city, has seen the greatest increase in prices.  Home values in these neighborhoods have nearly tripled since the recession ended, while home values in the rest of the city have doubled.

Snohomish County

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Once a less competitive market than King County, Snohomish County now has the lower amount of inventory of the two. The median price of a single-family home grew 12 percent over a year ago to $475,000. Prices here remain significantly lower than in King County and many buyers priced out of that market are trading a longer commute time for the opportunity of ownership.

Windermere Living – Spring 2018

The Spring 2018 issue of Windermere Living showcases a number of great articles, including design tips from Homepolish founder, Noa Santos, a 48-hour tour of Napa Valley, some of the West Coast’s hottest spots to eat, stay, and play, as well as pages upon pages of beautiful homes!

Windermere Living is the exclusive listings magazine published by Windermere Real Estate. Read the online version by clicking on the image below.

February Home Maintenance Checklist

It’s February – winter’s not over yet, but spring is right around the corner. If you have cabin fever from being inside, cleaning and freshening up your house can help you get through this last month of winter and be ready to get outside when spring arrives.

Once you check these items off your to-do list, you’ll be able to relax by the fire with a good book and enjoy the last few weeks of winter.

  • Mop entryway floors. Clean your floors regularly to prevent damage from road salt and melting snow. Place a basket of old towels near the door to wipe up water and salt as soon as it is tracked inside.
  • Rotate or flip your mattress. Extend the life and comfort of your mattress by flipping or rotating it. At the same time, vacuum box springs and the mattress to eliminate allergy causing dust- mites.
  • Organize your laundry room. Scrape dried-on laundry detergent from the ridges in your washer. Throw away laundry products you never use and replace damaged sorting bins.
  • Clean out your spice cabinet. Throw away expired spices and other seasonings, which may not only lose their taste, but could harbor mold and bacteria.
  • Sanitize hand-held devices. Prevent germs that cause the spread of colds and the flu by disinfecting your phone, remote controls, tablets, as well as your door and cabinet knobs.
  • Dust blinds, ceiling fans and fixtures. Wipe down or use a feather duster to remove the dirt that builds up on blinds, ceiling fans, light fixtures other small electronics.
  • Add color to your table. Treat yourself to some fresh flowers to add cheer to your kitchen table while waiting for spring blooms to make their first appearance.
  • Plan your summer vacation. Reserve your vacation home now to get the best selection of available properties. Start your planning today at Long & Foster’s Vacation Rentals website.

 

This post originally appeared on the Windermere.com blog.