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.
Price range matters
A closer look shows that, not surprisingly, lower price ranges have seen a lot more activity than the upper price ranges. Of course, in the greater Seattle area and surrounding cities, around five hundred thousand has become the lower end of the market, while the upper end is well above the million dollars mark, depending upon the specific neighborhoods.
I wanted to provide relevant data that remains current to my clients and other readers of this blog. To accomplish that, I have included these graphs in this post, for four different criteria. These are live graphs of the data points that give us the most relevant information. This data is taken directly from NWMLS. That means each time you ask yourself what is my home worth, come back to this blog post. The data would have been refreshed to show the current number.
Presenting this crucial information using zip codes appeared to be the best way. This post covers Redmond and Sammamish. I will cover other areas in future blogs. If you want to look at a more narrow scope, even a specific neighborhood, reach out to me, and I will put that together for you. Wondering what is my home worth? Take a look at these graphs.
Live graphs
The graphs below are for zip codes, 98052, 98074 and 98075
First, is for the price starting at $445,000, Single Family homes and condominiums, any number of bedrooms, new construction and previously owned, all style codes, all sizes.
The next one is for the number of homes that came on the market.
Next is for the number of days homes stayed on the market before being sold.
The last one is for the sale price per square foot.
Several readers requested that we post these graphs according to cities rather than zip codes.
Live graphs
The graphs below are for Kirkland, WA
First, is for the price starting at $445,000, Single Family homes and condominiums, any number of bedrooms, new construction and previously owned, all style codes, all sizes.
The next one is for the number of homes that came on the market.
Next is for the number of days homes stayed on the market before being sold.
The last one is for the sale price per square foot.
Live graphs
The graphs below are for Bellevue, WA
First, is for the price starting at $445,000, Single Family homes and condominiums, any number of bedrooms, new construction and previously owned, all style codes, all sizes.
The next one is for the number of homes that came on the market.
Next is for the number of days homes stayed on the market before being sold.
The last one is for the sale price per square foot.
The long-term outlook
That has remained the same. It has not improved. If anything, it is likely to be even grimmer. A considerable number of homeowners will soon finish the forbearance of their mortgage payments. At roughly the same time, the freeze on evictions due to non-payment of rent will also end. As one example, according to Senator Cortez Masto, Nevada is bracing for 250,000-400,000 evictions after the moratorium expires.
A not-much-talked-about side effect of COVID-19 on real estate buying and selling has been that an alarmingly high number of transactions have failed to close. I understand that in Florida, it has been as high as fifty percent. This can be attributed to buyers being affected by COVID-19, challenges in the workplace, and lenders being more vigilant. One cannot overemphasize the need for having a seasoned and knowledgeable broker represent you, if you were to list your home, or were in the market to acquire one.
I consider myself fortunate to be living in Washington state, which managed COVID-19 as well as it could have been, and where the real estate market has been very stable. I recently listed a home for $540,000, which sold in four days after receiving multiple offers and the asking price getting bid upwards, considerably.
In my previous blog post, I referred to the old adage that all real estate is local. This continues to hold. If you purchased in a robust neighborhood and acted prudently (my clients know that I work hard to help them do just that) and did not pay too much, the impact you might feel will be minimal. When you wonder what is my home worth, come and check it out here –– and for a specific number, connect with us.
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