South Snohomish County Quarterly Market Trends

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade! Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 13% year-over-year. We currently sit at 1.3 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 11 days and the average list-to-sale price ratio was 102%.

South Snohomish County real estate has been an affordable option compared to “in-city” real estate. In fact, the median price in June was 41% higher in Seattle Metro. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth.

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.


Posted on July 21, 2018 at 5:19 am
Laurie Vandermay | Posted in Quarterly Market Trends, South Snohomish County |

North Snohomish County Quarterly Market Trends

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade! Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 11% year-over-year.  We currently sit at 1.4 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 21 days and the average list-to-sale price ratio was 101%.

North Snohomish County real estate has been an affordable option compared to “in-city” real estate. In fact, the median price in June was 86% higher in Seattle Metro. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth.

This is only a snapshot of the trends in north Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.


Posted on July 21, 2018 at 5:18 am
Laurie Vandermay | Posted in North Snohomish County, Quarterly Market Trends |

North King County Quarterly Market Trends

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade! Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 13% year-over-year. We currently sit at 1.1 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 16 days and the average list-to-sale price ratio was 103%.

North King County real estate has a very high premium due to close-in commute times and vibrant neighborhoods. In fact, the median price in June was $800,000. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth.

This is only a snapshot of the trends in north King County; please contact me if you would like further explanation of how the latest trends relate to you.


Posted on July 21, 2018 at 5:17 am
Laurie Vandermay | Posted in North King County, Quarterly Market Trends |

Seattle Metro Quarterly Market Trends

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade! Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 15% year-over-year. We currently sit at 1.1 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 15 days and the average list-to-sale price ratio was 102%.

Seattle Metro real estate has a very high premium due to close-in commute times and vibrant neighborhoods. In fact, the median price in June was $800,000. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth.

This is only a snapshot of the trends in the Seattle Metro area; please contact me if you would like further explanation of how the latest trends relate to you.


Posted on July 21, 2018 at 5:16 am
Laurie Vandermay | Posted in Quarterly Market Trends, Seattle Metro |

Eastside Quarterly Market Trends

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade! Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 11% year-over-year. We currently sit at 1.5 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 19 days and the average list-to-sale price ratio was 101%.

Eastside real estate has a very high premium due to close-in commute times, great neighborhoods and strong school districts. In fact, the median price in June was $980,000. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth.

This is only a snapshot of the trends on the Eastside; please contact me if you would like further explanation of how the latest trends relate to you.


Posted on July 21, 2018 at 5:16 am
Laurie Vandermay | Posted in Eastside, Quarterly Market Trends |

South King County Market Trends

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade! Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 13% year-over-year. We currently sit at 1.4 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 15 days and the average list-to-sale price ratio was 101%.

South King County real estate has been an affordable option compared to “in-city” real estate. In fact, the median price in June was 75% higher in Seattle Metro. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth.

This is only a snapshot of the trends in south King County; please contact me if you would like further explanation of how the latest trends relate to you.


Posted on July 21, 2018 at 5:13 am
Laurie Vandermay | Posted in Quarterly Market Trends, South King County |

Monthly Newsletter

The late spring market brought about some welcomed change to our local real estate markets. In May, we experienced the largest increase in inventory in a decade! North King County and South Snohomish County are two examples of what is happening in all the markets across the Puget Sound as we head into the second half of 2018. Below is a breakdown of the current environment; further is an explanation of what it all means.

North King County (Ship Canal to Snohomish County Line):

  • 38% increase in new listings from April to May 2018
  • 16% more new listings in May 2018 vs. May 2017
  • Overall 5% more new listings over the last 12 months vs. the previous 12 months
  • Average list-to-sale price ratios reduce to 104% from 105% in May 2018
  • Median Price up 15% complete year over year, but down 1% vs. the previous month, landing at $815K.

South Snohomish County (Snohomish County Line to Everett):

  • 27% increase in new listings from April to May 2018
  • 10% more new listings in May 2018 vs. May 2017
  • Overall 2% more new listings over the last 12 months vs. the previous 12 months
  • Average list-to-sale price ratios reduce to 102% from 103% in May 2018
  • Median price up 12% complete year over year, but equal with the previous month, landing at $500K.

This increase in inventory is awesome! It is providing more selection for buyers and is helping temper price growth, which was increasing at an unsustainable level. It is still a Seller’s market by all means, which is defined by having three or less months of available inventory. Both market areas are still just under one month of inventory based on pending sales, but not as low as the two-week mark they were experiencing in March.

The increase in inventory is the result of pent up seller demand. From 1985-2008 the average amount of time a homeowner stayed in their home was 6 years. From 2008-2017 it grew to 9 years. With a resounding amount of equity under their belts, many homeowners are now deciding to make moves. Some are moving up to the next best thing and others are cashing out and leaving the area for a new beginning or retirement. This is providing buyers with the selection they have been waiting for after a very tenuous, inventory-starved start to 2018. The buyers that have stayed on the forefront of the market are now being rewarded with choices. These choices are best accompanied with keen discernment in order to craft the best negotiations – the broker they choose to align with is key.

The price analysis above indicates strong equity positions for sellers, but also a leveling off in price growth. Over the first quarter we saw prices increase month-over-month quite handily; now that more inventory is appearing and demand is being absorbed, price growth is not as extreme. This has highlighted the importance of having a strategic pricing and marketing plan for sellers wanting the highest price and shortest market time. The broker they choose to align with is key.

The importance of both buyers and sellers aligning with a knowledgeable, well-researched and responsive broker is paramount. One might think that it is “easy” to sell a house in this market, but the pricing research, home preparation, market exposure, varied marketing mediums, close management of all the communication, and how negotiations are handled can make or break a seller’s net return on the sale. With market times increasing, having a broker with a tight grasp on the changing environment will help create an efficient market time, resulting in the best price and terms for a successful closing. It is important that sellers do not overshoot this market, and it takes a broker with a keen gut sense rooted in in-depth research to help get them their desired results.

If you’re a buyer, it is overwhelmingly important that you are aligned with a broker that knows how to win in this market. The increase in selection has left some room for contemplation in some cases. Considering possible terms and price based on thorough market research as you head into negotiations are what set a highly capable selling broker apart and are required to prevail. With more selection coming to market, buyers have more to consider, and having a broker alongside them to help craft a strategy of negotiations will ensure they don’t overpay.

If you have any curiosities or questions regarding the value of your current home or purchase opportunities in today’s market, please contact me. It is my goal to help keep you informed and empower strong decisions.

 

 

Windermere Community Service Day 2018

On June 8th, my office spent our annual Community Service Day with the Snohomish Garden Club constructing trellises, weeding and staking beds and planting and labeling a half-acre of produce!

The Snohomish Garden Club will harvest this half-acre, which will yield close to 10,000 pounds of fresh produce to be donated to various food banks and senior centers in Snohomish County. The land for the garden is generously donated by the Bailey Family Farm.

For more information on how you can lend a hand, please visit: SnohomishGardenClub.com

Windermere’s Community Service Day was established in 1984 to offer agents and staff a chance to volunteer an entire workday to give back to the neighborhoods in which they live and work.


Posted on July 5, 2018 at 12:26 am
Laurie Vandermay | Posted in Newsletter |

Where to Watch Fireworks 2018

The Fourth of July is right around the corner.  With it being on a Wednesday, keeping it local makes sense.  Here is a list of local firework shows to help you celebrate the great U.S. of A!

Bellevue – Downtown Park 10:05 p.m.

Des Moines – Marina 10:20 p.m.

Edmonds – Civic Stadium 10 p.m.

Everett – Port Gardner Bay 10:20 p.m.

Federal Way – Celebration Park 10:15 p.m.

Kent – Lake Meridian Park 10 p.m.

Kenmore – Log Boom Park 10:00 p. m.

Kirkland – Marina Park 10:15 p.m.

Lakewood – Joint Base Lewis-McChord 10 p.m.

Newcastle – Lake Boren Park 10 p.m.

Renton – Coulon Park 10 p.m.

SeaTac – Angle Lake Park 10 p.m.

Seattle – Lake Union 10:20 p.m. BIG!

Tacoma – Ruston Way 10:10 p.m. BIG!

Tukwila – Fort Dent Park 10 p.m.


Posted on June 11, 2018 at 3:56 am
Laurie Vandermay | Posted in Community Events |

Local Splash Parks

It is that time of year when the sun comes out and the kids need to cool down and get their wiggles out outside. My blog has a list of local splash parks that are sure to beat the summer heat!

 

South Snohomish

Daleway Park

19015 64th Ave W, Lynnwood WA 98036

 

Edmonds City Park

600 3rd Ave S, Edmonds WA 98020

 

North Lynnwood Park

18510 44th Ave W, Lynnwood WA 98037

 

Rotary Centennial Water Playground

802 E Mukilteo Blvd, Everett WA 98203

 

Willis D. Tucker Park

6705 Puget Park Drive, Snohomish WA 98296

 

 

 

Seattle

Georgetown Playfield

750 S Home St, Seattle WA 98108

 

Northacres Park

12718 1st Ave NE, Seattle WA 98125

 

Pratt Park

1800 S Main St, Seattle WA 98144

 

 

Eastside

Crossroads Water Spray Playground

999 164th Ave NE, Bellevue WA 98008

 

Grass Lawn Park

7031 148th Ave NE, Redmond WA 98052

 

Sammamish Commons

801 228th Ave SE, Sammamish WA 98074


Posted on June 11, 2018 at 3:55 am
Laurie Vandermay | Posted in Community Events |

Outdoor Movie Schedule: Summer 2018

Don’t forget your blanket and the popcorn! It is the time of year when it’s nice enough to grab a movie outdoors – how fun!  Here is a list of local outdoor movies planned for this summer.

 

South Snohomish

Arlington’s Old Time Movies

Terrace Park

7/6       Star Wars: The Last Jedi (at the Airport Fly In)

7/12     Early Man

7/19     Peter Rabbit

 

Edmond’s Outdoor Movie Night

Frances Anderson Center Field

7/27     Moana

8/3       Wonder

 

Everett’s Cinema Under the Stars

Thornton Sullivan Park, Camp Patterson Field

7/20     Early Man

7/27     Coco

8/3       Wonder

8/10     Moana

8/17     Guardians of the Galaxy Vol 2

 

Marysville Popcorn in the Park

Jennings Park, Lioins Centennial Pavilion

7/14     Despicable Me 3

7/21     Jumanji

7/28     Cars 3

8/4       Wonder Woman

8/11     Star Wars: The Last Jedi

 

Sundquist Family Movies in the Park

Willis Tucker Park

7/12     Jumanji

7/19     Ferdinand

7/26     The Greatest Showman

8/2       Coco

8/9       Wonder

8/16     Beauty and the Beast

 

 

Eastside

Bellevue Movies in the Park

Downtown Park

7/10        Despicable Me 3

7/17        Boss Baby

7/24     The Lego Ninjago Movie

7/31     Goodbye Christopher Robin

8/7       Paddington 2

8/14     The Greatest Showman

8/21     Ferdinand

8/28     Ghostbusters

 

Crossroads Movies in the Park

Crossroads Park

8/2       TBD

8/9       TBD

8/16     TBD

8/23     TBD

 

Carillon Point Outdoor Movies

Carillon Point Plaza

7/7       Despicable Me 3

7/21     The Wedding Singer

8/4       Jumanji

8/18     Star Wars: The Last Jedi

 

 

Movies at Marymoor

Marymoor Park

6/28     The Goonies

7/5       Wonder Woman

7/11     Jumanji

7/18     Coco

7/25     The Greatest Showman

8/2       10 Things I Hate About You

8/8       Thor: Ragnarok

8/15     Ferdinand

8/22     Black Panther

8/29     The Princess Bride

 

 

Seattle Area

Bite of Seattle

Seattle Center Mural Amphitheatre

7/20     A League of Their Own

 

Cinema under the Stars

Columbia Park

7/14     Best of the Children’s International Film Festival

8/18     Coco

 

Movies at the Marina

Shilshole Bay Marina

8/3       Overboard

8/17     Moana

 

Movies at the Mural

Seattle Center Mural Amphitheatre

7/28     The Princess Bride

8/4       Get Out

8/11     Little Shop of Horrors

8/18     I am Not Your Negro

8/25     Wonder Woman

 

Seattle Outdoor Cinema

South Lake Union Discovery Center

6/16     The Goonies

7/21     Jurassic Park

8/25     Black Panther

 

West Seattle Outdoor Movies

Fauntleroy Triangle

7/21     Wonder Woman

7/28     The Secret Life of Pets

8/4       Star Wars: The Last Jedi

8/11     A Wrinkle in Time

8/18     Coco

8/25     Black Panther

 

  *Check websites for start times, pre-movie activities and to make sure your favorite movie hasn’t been canceled or changed!


Posted on June 11, 2018 at 3:54 am
Laurie Vandermay | Posted in Community Events |