Welcome to Friday! Let’s take a sweep of this week…but first, a quick story to launch you into the evening and weekend ahead…
…woke my 1st grade daughter up this morning in a her stone cold sleep to remind her that today was her “reading rodeo” (you know, the day that the parents come to the school to square dance, wear cowboy swag and the kids show off they can now read + write – yup, that day!) and she rolled over – with eyes still very much closed and first words out of her mouth were.. “Yee-haw!” I’ll take it! Yee-haw everyone, happy Friday.
At a glance for this week > #’s you should know (May 2016) + Tune Up new hire + multiple offer emergency link + you (our people!)…
This week, the “science” | The NWMLS May 2016 statistical data was released this week – signaling us to update our Seattle statistics as well. A few talking points + #’s you should know as you continue to master being the smartest brokers boots on ground in the local marketplace. According to the NWMLS…
- The month of May had an uptick in new listings (12,272), but just as many buyers (12,275) made offers on homes during the month to keep inventory depleted. *Yup, we are feeling it!
- Inventory down more than 22% from a year ago (NWMLS database)
- MLS figures show there is only a 1.76 months of supply system-wide. How does our Metro Seattle neighborhoods stack up in months of supply? Click here for Seattle statistical graphs by area. Ballard/Green Lake/West Seattle (areas 705 + 140) are all tied up for winning the lowest inventory category > a whopping 0.60 months of inventory supply. Queen Anne / Magnolia take the trophy for the highest > 1.04 months of inventory supply. Neither deserves a trophy, however should be noted.
- In King county prices of SFH surged nearly 16.5%, condo prices up 9%.
As Matthew Gardner will share with you very soon in his economic corner “this was supposed to be a year of moderating home prices and a return to normality. Instead, upward price pressures have clearly not abated, and many red-faced economists are scrambling to revise their forecasts. The culprit? Most forecasters, predicted that three years of rising prices would lead to an increase in the number of sellers, and in turn, more inventory to meet growing buyer demand. Early returns show that most forecasts are already too conservative…” more to come in the coming weeks within your “Note from Jill & OB”…
Multiple offer emergency kit | A golden nugget to share with you – a one-pager to use as reference as you continue to work with your clients in this multiple offer landscape. Click here for goodness.
Tune Up Team new hire! | Welcome Pattie O’Loughlin – our new member to the Tune Up Team! Our team is growing as we continue to find innovative and inspired ways to support you. Pattie will join our Company next week in addition to her on-boarding 1/2 time with our Windermere marketing team. Win/win for our six offices + marketing! More to come in her role – for now, know that we are growing! Meet your Tune Up Team
Our people | These past two weeks I’ve attended a handful of WRE events that yet again remind me that we are surrounded by the best people. Our people have always been the strongest pillars to our collective success. Community Service Day was again greatly impactful throughout our communities – with our office doors closed throughout the entire 300 office network and all of us rolling up our sleeves to help. The Coach Peterson event at the UW’s Touchdown Terrace was fantastic in hosting your clients and listening to Coach Pete’s mantra, “built for life” (Go Dawgs!). Yesterday I spend three hours cruising the shores of Lake Washington with 110 incredible WRE brokers as we toured waterfront inventory, listened to market stories, ate + drank well and networked between WRE offices like crazy! What did I noticed these past couple weeks? We are living out our four core values that drive everything we do = Relationships + Community + Collaboration + Professionalism. What we do is not easy, if we continue to lean on + lean into these core values we will continue to find success in any market. Remember our mantra from our 2016 kickoff meeting? “Do It Well. Make It Fun.” – six months into the year let’s bring that back top of mind – it will help in all we do to create a successful year. Summer should give us opportunity to add some “fun” to the mix. Find it! We all need it.
Thanks for taking this sweep with me on this “yee-haw” Friday! I’m having fun with this. Here to help, always the ultimate goal. Give me feedback along the way – this content is specifically geared for you – our six!
Laura Smith, General Manager | Windermere Real Estate Co + Northwest, Inc.