How robust is Seattle’s real estate market? Consider these recent stats. 

• The median sale price of a home in Seattle rose by 26.1% from the previous year. It was $737,800 at the end of May 2021. 
• Almost seventy percent of properties in the Greater Seattle area sold for considerably higher than the asking price. 
• On average, it took only five days to sell a house. 
• The median listing price of a home was $765,000, and the median sale price was $856,800. 

Is that robust enough?

However, this chaotic real estate market has softened a bit in recent weeks. It is taking a little longer for a house to sell. There are also more price reductions. BTW, we now use more exotic words like refreshed pricing or improved price rather than a good old price reduction.
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Live graphs give you current data

What is my home worth? This question is the first step when people start to think about selling their house. Having the most current and up-to-date data about recent activity is crucial to answering this question. This blog post is unique. It includes live graphs that show you the last twelve months’ data for Redmond, Sammamish, Kirkland, and Bellevue. If you require more extensive data, please reach out and we will get you what you seek. A broader picture shows that the demand for homes increased significantly starting in the summer, while the supply went down a lot, mostly due to homeowners are not eager to sell during COVID-19 unless there is a dire need to do so.
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Our Real Estate market is vibrant, complex, and nuanced. 

Savvy buyers and sellers know that our real estate market is vibrant, complex, and nuanced.

At BN Real Estate, we follow a nine-point home-buying system to serve our “buyer clients.” You can learn more specifics about this extremely effective approach here. For an in-depth understanding of the buying process and to be equipped to jump into today’s highly competitive market,  pick up Broker Nadir’s book at Amazon. 

Being in a seller’s market, like the one we have now, having several buyers clamoring to get their offer accepted makes things even more complex for the home sellers. 
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Buying a home

The current sentiment that the real estate market is crazy is the aptest description. Buying a home in 2021 has become a very different experience. It does not serve homebuyers very well, who feel helpless as the market demands compel them to give up their legal protections. There is no way to predict when the market conditions might improve.
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December 2020 stats

The demand for homes remains on the rise. There was a substantial 39.3% increase in new homes coming on the market during December 2020, compared to the same month a year ago, for the entire NWMLS system. King County had more than a 60% increase in new listings compared to a year ago. Buyers eager to own homes quickly absorbed this added to inventory. 

A total of 5,260 new listings came on the market. This was the most extensive new-listing activity since 2010 when the number was 5,460. Yet, demand is even higher. Across the NWMLS, for single-family homes and condos that closed last month, prices jumped nearly 12.2% from a year ago, increasing from $435,000 to $488,000. The averages are different on the Eastside. In Kirkland, the average home price is $1,031,089. In Redmond, the 98052 zip code average home price is $841,592 and in the 98053 zip code, this number is $895,671. In Sammamish, 98074 zip code the average home price is $922,461 and in the 98075 zip code, this number is $1,057,799.
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