September 2020 Real Estate Market Update

August saw the lowest number of homes for sale in more than 20 years and the lowest mortgage rates on record. Sparse inventory and high demand pushed home prices to new highs.

  • With pending sales outpacing new listings, inventory continues to shrink. King and Snohomish counties each have about a two-week supply of available homes. Four to six months of inventory is considered a balanced market, favoring neither buyers nor sellers.
  • The region saw the second consecutive month of record-setting price growth with home prices experiencing double-digit increases as compared to a year ago.
  • Fierce competition among buyers has made multiple offers the norm. In King County, 46% of home sold for more than the list price. Last August that number was 24%. In Snohomish County, 58% of homes sold above list price as compared to just 28% the prior year.

The charts below provide a brief overview of market activity. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


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Posted on September 17, 2020 at 10:59 pm
Kari Haas | Posted in Kari's Blog |

August 2020 Real Estate Market Update

While the pace of daily life may seem slow right now, the local real estate market has had an unusually busy summer. The number of new listings in July was up, sales increased, and home prices followed suit.

• While overall inventory is at historic lows, more sellers put their homes on the market. New listings of single-family homes in King County jumped more than 25% from a year ago. Snohomish County saw a 7% increase in new listings.

• Pent-up buyer demand fueled sales activity in July. The number of pending sales was up 17% over a year ago in King County, and up 13% in Snohomish County.

• With buyers snapping up new listings as soon as they hit the market, total available inventory dropped to a 10-year low for the month.

• The lack of inventory is benefiting sellers, and multiple offers are now common at every price point. As a result, single-family home prices rose 7% in King County and 15% in Snohomish County.

The charts below provide a brief overview of market activity. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on August 10, 2020 at 10:59 pm
Kari Haas | Posted in Kari's Blog | Tagged , , , , , ,

July 2020 Real Estate Market Update

While our lives are very different than they were a year ago, the local real estate market has recovered to 2019 levels. Record low interest rates are helping spur demand. Sales were up, home prices increased and multiple offers were common.

  • The number of pending sales, a measure of current demand, was higher in June than for the same period a year ago.
  • The supply of homes on the market remains very low, with just a month of available inventory. When inventory is this low, quick sales over full price are common. That was the case in June when about 40% of homes sold for more than the asking price.
  • Home prices in King County rose 4% over a year ago. Snohomish County home prices increased 5%.
  • More sellers put their homes on the market. While total inventory remains low, the number of new listings in June was similar to the same time last year.

The monthly statistics below are based on closed sales. Since closing generally takes 30 days, the statistics for June are mostly reflective of sales in May. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on July 11, 2020 at 1:41 am
Kari Haas | Posted in Kari's Blog |

June 2020 Real Estate Market Update

As we move to the next phase of reopening, life feels like it’s slowly inching back towards normal. The same is true in real estate. Statistics on home sales in May provided the first true picture of the effects of COVID-19. Those reports confirmed the incredible strength and stability of the local real estate market.

  • The Stay Home order, as expected, continued to impact the number of sales. However, the market is starting to move its way towards more normal activity. Pending sales, a measure of current demand, have risen every week since April.
  • The slight drop in median closed sale price is a result of a proportionately larger number of lower priced homes selling than is normal. It should not be interpreted as a decrease in individual home value.
  • There were significantly fewer homes for sale in May than the same time last year. With less than a month of available inventory, competition among buyers was intense. Bidding wars and all-cash offers were common.

The monthly statistics below are based on closed sales. Since closing generally takes 30 days, the statistics for May are mostly reflective of sales in April. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here. As we adapt to new phases of reopening, know that the safety of everyone remains our top priority.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on June 15, 2020 at 6:36 pm
Kari Haas | Posted in Kari's Blog |

May 2020 Real Estate Market Update

We hope you are weathering the new normal as best as you can. With everyone spending more time than ever at home, real estate has taken on a whole new importance. For those who are interested, here is a brief update on how COVID-19 continues to affect our local market:

  • Business was better than expected under the Stay Home order. COVID-19 did reduce real estate sales in April as compared to a year ago, however the number of sales rose steadily each week of the month. Sales growth continued in early May and we expect sales to increase slowly week by week.
  • The number of new listings dropped, suggesting that would-be sellers are waiting until the shelter-in-place order is over to put their home on the market. With local technology companies continuing to hire, buyers will continue to face competition for limited inventory in the coming months.
  • Home prices remain stable, with the median price of homes sold in April up slightly from a year ago. Sellers appear to be pricing homes realistically and buyers are not finding deep discounts.

The monthly statistics below are based on closed sales. Since closing generally takes 30 days, the statistics for April are mostly reflective of sales in March. Next month’s data will offer a more telling trend of the effect of the virus on the local housing market.

If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

As our current situation evolves, know that the safety of everyone remains our top priority.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

 

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on May 21, 2020 at 5:33 pm
Kari Haas | Posted in Kari's Blog |

April 2020 Real Estate Market Update

Windermere is focused on keeping our clients and our community safe and connected. We’re all in this together. Since the early days of COVID-19, our philosophy has been “Go slow and do no harm.” While real estate has been deemed an “essential” business, we have adopted guidelines that prioritize everyone’s safety and wellness.

Like everything else in our world, real estate is not business as usual. While market statistics certainly aren’t our focus at this time, we’ve opted to include our usual monthly report for those who may be interested. A few key points:

  • The monthly statistics are based on closed sales. Since closing generally takes 30 days, the statistics for March are mostly reflective of contracts signed in February, a time period largely untouched by COVID-19. The market is different today.
  • We expect that inventory and sales will decline in April and May as a result of the governor’s Stay Home order.
  • Despite the effects of COVID-19, the market in March was hot through mid-month. It remains to be seen if that indicates the strong market will return once the Stay Home order is lifted, or if economic changes will soften demand.

Every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

Stay home, stay healthy and be safe. We’ll get through this together.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on April 28, 2020 at 5:05 pm
Kari Haas | Posted in Kari's Blog |

“Stay Home, Stay Healthy” Real Estate Update

Revisions for real estate under “Stay Home, Stay Healthy”

On March 25th we wrote a blog post based on Gov. Inslee’s announcement about how we will continue to conduct real estate business under the “Stay Home, Stay Health” Order. Because information about COVID-19 and its impact on citizens and the economy evolve so quickly, we have several revisions to report.

 

Follow us on Twitter for the latest news!

 

As of Saturday, March 28th, real estate agents are now permitted to conduct the following in-person activities as long as we adhere to the following protocol:

  • In-person activities must be by appointment only
  • No more than two people, including the broker, may be at a property at any one time
  • Those two persons must strictly follow social distancing guidelines established by the Centers for Disease Control and Prevention (CDC) by remaining at least six feed apart at all times.

 

Here are the revisions to the original Order regarding acceptable in-person activities:

  • Previews and showings of listings by appointment only
  • Listing presentations, photography, and creating virtual tours for new listing*
  • Inspections for pending transactions
  • Appraisals for pending transactions
  • Buyer “walk-throughs” for pending transactions prior to closing
  • Providing keys to buyers at closing

*Professional photographers are not considered “essential,” thus all photos must be taken by the broker or seller

 

There is a great deal more to know about how the real estate industry is adapting under “Stay Home, Stay Healthy.” Please connect with us to learn more!

 


Posted on March 30, 2020 at 8:02 pm
Kari Haas | Posted in Kari's Blog |

“Stay Home, Stay Healthy” How COVID-19 is Impacting Real Estate

How is coronavirus impacting the Seattle real estate market?

 

Since news of COVID-19 swept the world, a lot has changed and continues to change rapidly. Like in all businesses and industries, those in real estate have been adapting and doing our best to plan ahead. On Monday, March 23, 2020 Governor Jay Inslee announced to Washington State a “Stay Home, Stay Healthy” order.

 

What did this situation look like before the “Stay Home, Stay Healthy” order?

Until now bars, restaurants and places of entertainment and recreation statewide had been limiting occupancy, doing just takeout orders, etc. In the real estate industry, we temporarily stopped hosting public open houses and were only doing private showings in addition to our extra efforts to wipe down surfaces and make hand sanitizer available.

 

What does the situation look like now?

Effective midnight on Wednesday, March 25th and lasting for two weeks, all “nonessential critical infrastructure workers” must close. This includes real estate brokerages and services. However, we can continue working from home.

Connect with us on Twitter for the latest news!

During this time, many aspects to how we as real estate agents conduct our business is temporarily changed. At the same time, because a lot of what we do has already been changing to be more tech friendly, much will remain the same.

Certain workers in the “Financial Services Sector” have been deemed essential workers including mortgage lenders, escrow and title insurers. Therefore, real estate transactions already under contract may continue with the closing process. It is important to remember that there may be delays, for which we have created a new addendum to add to contracts as needed.

Keep in touch with us on Facebook!

What we can do during this time:

  • Provide services remotely including complimentary listing consultations and meetings
  • Use the sites and software we already use to create online forms and do electronic signings
  • Send virtual tours, videos and photos of homes

What we cannot do during this time:

  • Physically show you or preview a property ourselves
  • In-person listing presentations
  • Take new property photos or videos
  • Stage homes

We continue to work with Northwest Multiple Listing Service (NWMLS) and Washington Realtors to adjust our business practices under the “Stay Home, Stay Healthy” order. We will keep you updated on whether days on market (DOM) and cumulative days on market (CDOM) will be suspended (helpful for our active sellers!), if we will be able to continue with appraisals and inspections, and more.

Create with us on Pinterest!

During this time we must remember that we are part of an incredibly complex and interconnected world. All our efforts are to ensure health and safety for everyone. If you have any questions, please get in touch with us!

Updated information about COVID-19 is available from the Centers for Disease Control and Prevention’s website (www.cdc.gov) and from the Washington State Department of Health’s website (www.coronavirus.wa.gov).

 


Posted on March 25, 2020 at 9:18 pm
Kari Haas | Posted in Kari's Blog |

Kari’s 2020 Vision

Kari’s 2020 Vision – Winter Client Education Event

Matthew Gardner Invitation

RSVP REQUIRED: Click here to RSVP!

 

What: Enjoy an intimate evening with Windermere’s Chief Economist, Matthew Gardner. Find out what the future holds locally and nationally and what it all means for you.

Where: Windermere Bellevue Commons – 100 116th Ave SE, 98004

When: Thursday, February 6th, 2020

Time: 6:30 PM – 8:30 PM

 

Schedule:

6:30 PM Dinner

7:00 PM Presentation

8:00 PM Q&A and Dessert

 

About special guest, Matthew Garder: As Chief Economist for Windermere, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. He also publishes the Gardner Report, which highlights market conditions in regions throughout the Western U.S. Links to each region’s reports can be found below.

 

RSVP REQUIRED: Click here to RSVP!

 

Please contact info@karihaas.com with any questions. Looking forward to seeing you!

 

Stay Connected

Make sure you are up to date with everything Kari Haas is doing by connecting on social media:

Facebook | Twitter | LinkedIn | Instagram | Pinterest | YouTube

 

 


Posted on December 13, 2019 at 7:32 pm
Kari Haas | Posted in Kari's Blog |

Circle of Friends with Caffe Ladro

Kari Haas is honored to partner with Caffe Ladro for the Nov/Dec 2019 Circle of Friends promotion!

Caffe Ladro Postcard

 

Six times a year Kari Haas partners with a local business to bring her clients a free gift. For our winter 2019 promotion, Kari is bringing her clients a free 12oz beverage from ANY Caffe Ladro location!

 

About Caffe Ladro: Caffe Ladro first opened up shop in Seattle’s Queen Anne neighborhood in 1994. It has since grown to include 16 locations from Everett down to West Seattle and over to Issaquah. Iti s known for its high quality, sustainably and ethically produced coffee and delicious baked goods.

 

One thing in particular that the Kari Haas team loves about Caffe Ladro is that each Caffe Ladro café was built to compliment the neighborhood in which it resides. As real estate agents, we appreciate the uniqueness of each Seattle neighborhood and help our clients find the neighborhood and home that compliments them most.

 

HASHTAG CONTEST

Post a picture or video of yourself with the Circle of Friends postcard on social media using the following hashtags and tag Kari Haas for you chance to win a $50 Amazon giftcard!

Kari Haas Caffe Ladro Photo

#karihaas #karihaascircle #caffeladro #seattlerealestate

Facebook | Twitter | Instagram

 

To redeem, bring the card you received in the mail fully intact to any Caffee Ladro location thru December 31. Three* locations have drive thru coffee windows!

Upper Queen Anne – 2205 Queen Anne Ave N, 98109

Lower Queen Anne – 600 Queen Anne Ave N, 98109

Pine Street – 801 Pine St, 98101

Union Street – 108 Union St, 98101

1800 Ninth – 1800 9th Ave, 98101

West Seattle – 7011 California Ave SW, 98136

Capitol Hill – 435 15th Ave E, 98112

Just Sold in Capitol Hill!

In fall 2019, Kari Haas helped her clients sell for an average of 9% over list in an average of 5 days!

 

Fairview / South Lake Union – 400 Fairview Ave N, 98109

Fremont – 452 N 36th St, 98103

Ravenna – 1222 NE 65th St, Suite 103, 98115

*Bothell – 18610 Bothell Way NE, 98011

*Edmonds – 8403 Main St, 98026

*Lynnwood – 6314 196th St SW, 98036

Exterior - Luxury Real Estate - 18109 84th Ave W, Edmonds

While grabbing your coffee in Edmonds, visit our Premier listing: Dramatic Styling and Luxury Design | MLS 1534338

 

Kirkland – 104 Central Way, 98033

Kirkland Urban – 400 Urban Plaza, 98033

Bellevue – 333 108th Ave NE, 98004

Issaquah Highlands – 1200 10th Ave NE, 98029

 

Connect with Kari Haas at 206-719-2224 to learn how you can get on her Circle of Friends list AND to create a strategy to meet your real estate needs!

 

 

 


Posted on November 20, 2019 at 7:55 pm
Kari Haas | Posted in Kari's Blog | Tagged , , , , , , , , ,