From Oleg Doukhnevitch
Are you considering buying a home in the Seattle area? Look no further!
With the city's dynamic tech industry and AI advancements, the real estate market is on the cusp of exponential growth. Microsoft's projected ascent to a trillion-dollar company in 2024 further reinforces the city's economic prospects.
Another compelling reason is the influx of young workers and families in the region. As the young generation starts families and with an increasing number of children, the demand for housing will surge, presenting an excellent opportunity for real estate investment.
Furthermore, Washington's lack of income state tax allows residents to retain more of their hard-earned money, boosting the appeal of living and working in the region.
Last but not least, Seattle's captivating natural beauty offers residents the best of both worlds. With two National Parks, stunning lakes, and majestic mountains, outdoor enthusiasts can indulge in hiking, skiing, water sports, and kiteboarding, and immerse themselves in nature's embrace, enjoying both the four distinct seasons in Eastern Washington and the mild climate in the western region.
Considering these four compelling reasons, investing in Seattle real estate in 2023-2024 holds great potential for a promising future and an enriched lifestyle. So, don't miss out on this fantastic opportunity and secure your place in the thriving Seattle real estate market!
Get ready for our exclusive Seattle and Bellevue Real Estate Market Update for July 2023! In this must-watch video, we present a comprehensive analysis of the housing market in these vibrant Washington cities. Whether you’re a prospective buyer, seller, or simply curious about market trends, our update is packed with valuable insights you won’t want to miss! 🏡 Discover the Latest Market Trends: Stay ahead of the game by knowing the current state of the Seattle and Bellevue housing markets. Our expert analysis sheds light on key trends, helping you make informed decisions. 📈 Insights for Buyers: If you’re considering purchasing a property in Seattle or Bellevue, this update is a goldmine of information! Learn about available inventory, competitive prices, and strategic buying tips to navigate the market confidently. 🏢 Tips for Sellers: Selling your property in these dynamic cities? We’ve got you covered with essential tips to optimize your listing and attract potential buyers in this competitive market. 📊 Data-Driven Predictions: Our real estate experts crunch the numbers and offer data-driven predictions for the upcoming months. Be prepared for what’s to come!
Seattle, known for its stunning landscapes, thriving job market, and cultural attractions, has seen some interesting developments in its real estate sector. The median sale price in Seattle currently stands at $905,000, reflecting a significant decrease of 12% Year-to-Date (YTD). We’ll explore the factors behind this decline and discuss the potential implications for buyers and sellers. Moving east to Bellevue, located in the desirable Eastside region, we’ll examine the real estate market dynamics in this area as well. With its proximity to major tech companies and picturesque surroundings, Bellevue has been a sought-after destination for homebuyers. The median sale price in Eastside, specifically Bellevue, currently sits at $1,450,000. However, like Seattle, the market has experienced a decrease of 9% YTD, indicating shifting trends and opportunities. Throughout this video, we’ll delve into the reasons behind these price adjustments, exploring factors such as supply and demand, economic conditions, and any regulatory changes that may have influenced the market. We’ll provide expert analysis and discuss the potential impact of these trends on buyers, sellers, and the overall real estate landscape.
As of April 2023, the real estate market in Bellevue, WA has seen a decline of 17% compared to the same period a year ago. However, there has been a positive trend in prices since January 2023, with prices starting to climb up again. This makes it an opportune time for potential buyers to enter the market before prices potentially rise to the level seen in April 2022, where the median price for a home was $1.8 million.
Seattle Real Estate Market Update: Latest Trends and Analysis (March 2023)
The Seattle Real Estate Market in March 2023 is showing signs of increased activity and competition, particularly for well-prepared properties. Since the start of the year, available homes have been on the decline, leading to multiple offers becoming more common than not. This trend is being driven by a surge of buyers who are taking advantage of the pullback in pricing experienced in the 4th quarter of 2022. The interest rates have remained steady at around 6% for the past 60-90 days, making it an excellent time for buyers to enter the market. Furthermore, with inflation falling, it is expected that the market will continue to improve, with the exception of availability. The demand for move-in ready homes is still high, and sellers must ensure their properties are up to par to get top dollar.
Seattle & Bellevue Real Estate Market Update: January 2023
In this video, we’ll share with you our latest Seattle and Bellevue real estate market update. We’ll cover the latest prices, trends, and of course, the million-dollar question… What will the market look like in 2023? Download our free report to find out what’s happening in the market and see which neighborhoods are the hottest sellers!
In this video, we’re celebrating Oleg Doukhnevitch’s amazing achievements in the real estate market!
From buying and selling properties to becoming a real estate ninja, Oleg has done it all!
To celebrate, we held a client’s party in Bellevue, WA, and it was a blast! Oleg’s clients came from all over the continent to share in his success and congratulate him on his incredible career. It was truly a celebration of excellence in the real estate market!
From Oleg:
“Dear friends, May this Christmas bring you great joy, fulfillment of all your dreams, peace, and happiness! First and foremost, I’m beginning with a heartfelt, and well-deserved THANK YOU! Thank you for coming last Saturday, and making this event possible! This event would not happen without your presence, friendship, and dedication. I know you are busy with life, family, kids, and many other events in this special holiday season, but you made time to celebrate this Christmas with me! I’m proud and happy to have such amazing clients, business partners, and friends! Special thank you for your help and support in organizing this event to: Inna Tan- my beautiful wife, who supports me in everything I do and for dedication to this Christmas Party!”
A steady influx of buyers continued to strain already tight inventory throughout the area in October. Home sales were up, as were prices in much of the region. With our thriving economy and highly desirable quality of life drawing ever more people here, the supply of homes isn’t close to meeting demand. Homeowners thinking about putting their property on the market can expect strong buyer interest.
EASTSIDE
As the Eastside continues to rack up “best places” awards, it’s no surprise that the area is booming. Development is on the rise, fueled primarily by the tech sector. The appeal of the Eastside has kept home prices here the highest of any segment of King County. The median single-family home price in October was stable as compared to the same time last year, rising 1% to $900,000.
KING COUNTY
King County’s 1.74 months of available inventory is far below the national average of four months. Despite the slim selection, demand in October was strong. The number of closed sales was up 5% and the number of pending sales (offers accepted but not yet closed) was up 11%. The median price of a single-family home was down 2% over a year ago to $660,000. However, some areas around the more reasonably-priced south end of the county saw double-digit price increases.
SEATTLE
Seattle home prices took their largest year-over-year jump in 12 months. The median price of a single-family home sold in October was up 3% from a year ago to $775,000, a $25,000 increase from September of this year. Seattle was recently named the third fastest-growing city in America. Real estate investment is surging. A growing population and booming economy continue to keep demand for housing –and home prices—strong.
SNOHOMISH COUNTY
Both the number of home sales and home prices were on the rise in Snohomish County in October. Overall homes sales increased 7%, and the median price of a single-family home rose 5% over a year ago to $495,000. Supply remains very low, with just six weeks of available inventory.
VIEW FULL SNOHOMISH COUNTY REPORT
This post originally appeared on GetTheWReport.com
• Sales are good (pending sales up 9% for September vs last year 931 vs 857). Inventory is down 21% from a year ago (1,713 vs 2,161).
• Sales up and inventory down is good for sellers, but it does not feel too good. Prices are flat. Only 18% of September closings were for over list price compared to 60% in the hot hot markets (spring of 2017 & 2018). Finally, about half (46.8%) of properties that sold, sold with less than 15 days of Days on Market. List price must be close to value to sell.
• Interest Rates, Interest Rates, Interest Rates… 3.61% vs 4.63% from a year ago (page 5).
A one percent change in interest rate is a 10% change in purchase price.
• Competing for a listing? (share from page 2)
1. What are the odds of selling 3 in 4 (75% for trailing 12 months), 1 in 4 are not selling.
2. Percentage of Pending Sales that don’t close is 1 in 8 (14% for trailing 12 months)
Who you hire matters!
A decrease in inventory coupled with an increase in sales activity led to fewer options for home shoppers in August. There is some good news for would-be buyers as mortgage rates have dropped to their lowest level in three years. Demand remains high but there simply aren’t enough homes on the market. Brokers are hoping to see the traditional seasonal influx of new inventory as we move forward.
EASTSIDE
The median price of a single-family home on the Eastside was $935,000 in August, unchanged from a year ago and up slightly from $925,000 in July. New commercial and residential construction projects are in the works. Strong demand for downtown condos has prompted plans for yet another high-rise tower to break ground next year.
KING COUNTY
Home prices in King County were flat in August. The median price of a single-family home was $670,000, virtually unchanged from a year ago, and down just one percent from July. Southeast King County, which has some of the most reasonable housing values in the area, saw prices increase 9% over last year. Inventory remains very low. Year-over-year statistics show the volume of new listings dropped 18.5% in King County.
SEATTLE
Homes sales were up 12% in Seattle for August, putting additional pressure on already slim inventory. There is just over six weeks of available supply. There are signs that prices here are stabilizing as the median home price of $760,000 was unchanged from a year ago and up less than one percent from July. With its booming economy, demand here is expected to stay strong.
SNOHOMISH COUNTY
Buyers looking for more affordable options outside of King County pushed pending sales, mutually accepted offers, up nearly 16% over a year ago. Home prices have softened slightly. The median price of a single-family home in August was $490,000, down slightly from the median of $492,225 the same time last year.
VIEW FULL SNOHOMISH COUNTY REPORT
This post originally appeared on GetTheWReport.com
