Statistics from the second quarter of 2019 are in and Realogics Sotheby’s International Realty has analyzed the data with a look at the housing market trends for the second quarter of 2019, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
While it's true that home prices have continued to rise throughout the Seattle-Metro area, there are also some new and interesting statistics to go along with rising median prices. Realogics Sotheby's International Realty recently released their second-quarter market trends report for 2018 and we wanted to share a few statistics that jumped out at us.
Realogics Sotheby's International Realty presents a look at the housing market trends for the third quarter of 2017, check out all the details across the sound; from in-city Seattle living opportunities to the Eastside’s most distinguished residences.
Seattle | Single Family Homes
Prices continued to exceed seller’s expectations in Q3-2017, as the median sales price reached $881,000, a sharp increase compared to last year’s $786,000 average. View report here.
Seattle | Condominiums
The average sales prices for condominiums in Seattle as a whole increased by 11.6% compared to the third quarter of 2016, while the value of condos in the downtown core continues to skyrocket. View report here.
Eastside | Residential
Despite cooling autumn temperatures, the market on the Eastside is red hot, as the region’s same-quarter sales in the third quarter of 2017 remained steady from 2016 and the days on market decreased to 18 days. View report here.
Released late last month, the RSIR Quarterly Reports show an in-depth look at the housing market and real estate trends from the first two quarters of 2017. The reports focused on Seattle, the Eastside and Bainbridge markets; but another recent semi-annual report pulled details from several neighborhoods and areas around the sound. The numbers from both reports show an increase in median home prices in every studied area.
We are pleased to announce the Realogics Sotheby's International Realty 2016/2017 Market Report! The full publication features editorial content and a full review on trends to watch and year-end statistics.
Realogics Sotheby's International Realty (RSIR) presents the Market Report: Puget Sound Real Estate Trends & 2015 Year in Review, a comprehensive look at the 2015 real estate market in an exploration of seven key counties of Western Washington: King, Snohomish, Kitsap, Pierce, Jefferson and Island counties, as well as 29 neighborhoods for our current and prospective clients. The report touches on macroeconomic trends, the primary demand drivers influencing our regional real estate market in addition to micro markets that vary greatly from neighborhood to neighborhood.
The year 2015 witnessed white-hot real estate conditions throughout the Puget Sound not seen since before the Great Recession. Prices of real estate throughout the Puget Sound catapulted higher in 2015, the result of tight supply and an influx of new buyers. A similar trajectory is expected in 2016: expanding demand, anemic supply and developers playing catch up to increasing homeownership levels.
The Puget Sound region has taken a different path from other boomtowns in North America whose economies are based on resource extraction (e.g., oil), financial intermediation, or entertainment. Seattle’s aerospace industry has gradually yielded its eminence to the service expansion and new product development cycles of the information tech industry and their secondary employment effects on IT contractors, food & beverage businesses, and real estate developers.
Besides drawing new residents domestically from other U.S. states, the Puget Sound benefits from the state’s importance as a gateway to trade with Asia, as well as from international air travel to and from Sea-Tac International Airport. The Sound’s proximity to international communities across the broader region from Vancouver, British Columbia to Los Angeles and San Diego is also a factor, as is the superior quality of life in the region and its comparative affordability in respect to those other markets. The international eminence that results from these features of our local economy has allowed the area to attract growing numbers of immigrants from overseas and recognition as a global gateway city.
As always, for the most current market information around the corner or around the world, reach out to one of RSIR’s Global Real Estate Advisors by visiting www.RSIR.com.