Seattle Housing Market Update – October 2020

Seattle Prices Came Back Down to Earth A Bit This Month

Looks like August was a bit of a sugar-high for real estate prices, and things are calming down a bit this month.

Again we see the tale of two different cities.

Houses and Townhouses:

Buyer demand was still strong, with 962 homes selling last month!  Considering we only had 1,164 home for sale, I am sure that number would have been even higher if there were more homes for sale.   The impact on buyers preference as a result of the ongoing extra time at home has caused the spike in demand for houses (and BIG houses) that is above and beyond what we normally see.

Condos:

More condos sold this month than the previous month and the previous year.  We had an increase of 18% more condos sell this month, and at the same time, we also had a 12% increase in the number of condos for sale.  We have 48% MORE condos for sale this year than in 2019, and are also seeing 47% more condos sell than this time last year.  But condos are still a tough sell.  You have a 2.5% chance of finding a buyer, and according to the data, those that do find a buyer take 30 days to get an offer and are selling for 99% of the list price.

Watch the video here

 


Seattle Real Estate Trends – Episode 32 – 9/27/20

The data shows we may be starting to ease into the Fall slowdown

 

Fewer houses, yet more condos came on the market this week.  Buyer demand also declined for houses, but had a slight uptick for condos:

The most shocking thing that happened this week was that we finally have over 1,000 condos for sale!  In the City of Seattle, right now, if you are trying to sell a condo, you statistically have a 3% chance of getting an offer.  Those are not odds that any condo seller likes.  But buyers, LISTEN TO ME…. It has never been a more favorable time to buy a condo.  If you have been wanting to buy a condo, and can realistically hold it for 5 or more years, now is a great time to buy.

 

Watch the Video HERE

 


* CANCELED * Views for DAYS! Spacious Capitol Hill Condo

Spacious, Stylish and Views FOR DAYS!

This Capitol Hill condo is ideally designed for the way we live today.  Boasting well over 1,000 square feet, this condo has an open concept and generously sized living. dining and kitchen area.  While maintaining the open concept, you still can have distinct spaces for living and for dining. The rare REAL dining room makes this home prime for dinner parties and game nights.  

Can we talk about these giant windows and sweeping views!?!?!?!

Not only is this home spacious with enviable views, it is also recently updated.  Lots of smart home features such as Nest thermostat, Lutron smart switches and a smart lock on the front door.  We also have engineered hardwood floors, new kitchen counters, and both bathrooms are fully remodeled and updated.  

There is tons more to love about this condo.  You have TWO parking spots and off-street guest parking.  A gas fireplace for winter evenings and a private patio for summer afternoons.  Walk-in closets in both bedrooms and an extra storage unit in the garage.  

Matterport 3D Tour here

Home Features and Recent Upgrades –

  • Smart lock and Nest thermostat
  • All new hardwood and tile flooring
  • Complete remodel of both bathrooms
  • Lutron smart switches 
  • Touchless sink faucet
  • New kitchen countertops and garbage disposal

 

“Why I LOVE Living Here”
  • 2 garage parking spots AND guest parking – so needed since street parking is so tough on the Hill
  • All the space.  The condo is BIG and we always had enough room to have our own space or invite over lots of friends
  • No neighbors to the left or the right!  We loved no shared walls
  • The large closets provided more than enough storage for all our stuff
  • Did we mention the views?!?!??!
  • Quick walk up to Broadway or Pike/Pine, and an easy walk to downtown.  Close to everything but tucked away on a sleepy street.

Watch the Video HERE.

The Fine Print:

– 1,170 square feet

– 2 beds/1.75 baths

– $923 HOA dues

– 2020 annual taxes $5,786

– 2 garage parking spots

– Listed at $550,000


Seattle Real Estate Trends – Episode 31 – 9/11/20

We did not get the landslide of new listing this week and I had expected we would.   We saw 7 more houses come on the market this week compared to last week, and 9 fewer condos. The total number of houses and condos available for sale has climbed again this week.

 

The data:

Other interesting thing to note is that we have 969 condos for sale.  The last time we had this many condos for sale was 2011.  Oye!  We still don’t see as many condos in the 90+ days on market as we did last year, so at least over inventory is turning over in a reasonable amount of time. We may still have a few more weeks of increasing number of total properties for sale before the seasonal slowing starts.

Watch the video here

*SOLD* Nestled in Newcastle

Peaceful and quiet, with your own entrance and yard space.

Located in heart of Newcastle this beautiful corner 1 Bedroom, 1 bathroom boasts engineered hardwood floors throughout, stainless steel appliances, granite countertop in kitchen, quartz countertop with dual sinks in bathroom, fresh paint, and a walk in closet.  Open sight lines with a cozy fireplace.  Outdoor entry.  Very quiet, private location with a large patio and small yard/grass out front.  Individual garage plus plenty of storage. 

 

Great east side location. Walk to restaurants, shops, groceries, bank, & library. Steps to public transportation. Easy access to I-405, I-90. Lots of recreations close by including Lake Boren Park, Cougar Mtn hiking trails, Newcastle Golf Course, dog park, YMCA. Community features include clubhouse, exercise room, & athletic court. Minutes to Bellevue, Issaquah, and Renton.

Matterport 3D Tour here

Recent Upgrades –

  • New engineered hardwood floors (2018)
  • New quartz countertop (2019)
  • New dual undermount sinks & fixtures in bathroom (2019)
  • Fresh paint throughout (2020)
  • Stainless steel appliances (2014)
  • Granite countertop in kitchen (2014)
  • Soft close cabinets/drawers in kitchen & bathroom (cabinetry updated in 2014)

Home Features:

  • Outdoor entry and ground floor, end unit.  
  • Individual (Private) 1 car garage
  • Cozy wood burning fireplace
  • Large patio off of living room with small yard/grass out front
  • Plenty of storage: Storage closet off of patio plus storage unit in storage room

 

“Why I LOVE Living Here”

The home is an end unit set back from the street so it is so quiet here. I only share a wall with one neighbor who is above me. The home feels very open which is great for entertaining and has upgrades throughout. I think my favorite things about the home is the updated quartz counter top with dual under mount sinks & fixtures in the bathroom, the spacious walk-in closet, and engineered hardwood floors.  

It has a large patio and small yard off the living room.  I particularly like how the garages separate the front patio area from the parking lot which makes it private and peaceful.  The home stays nice and cool in the hot summer months. I never have to use AC or a fan. It’s on the ground floor and has an outside entry with no halls to go down or stairs to climb which is super convenient. I love having my own garage so there’s no scraping ice off the car windows in the wintertime! There is also storage for days!

It’s a great community, just a quick walk to all that Newcastle has to offer: shops, grocery store, drug stores, UPS, Starbucks, dry cleaner, and restaurants. It makes running errands a breeze! 

 

Watch the Video HERE.

The Fine Print:

  • Listed at $285,000 – Sold for $285,000 on 10/30/2020
  • 1 bedrooms, 1 bathroom
  • NWMLS #1666971
  • 705 square feet
  • $316 HOA dues
  • 2020 annual taxes $2,957
  • One car individual garage