Before we sweep this week, an important item of news to share with you. We have lost a good one this week as John Demco passed away. There will be a tribute posted soon on Demco’s website. For now, I’ll take a soundbite from attorney, David Daniel…”Cheers to keeping the Demco train rolling strong in his honor.” Exactly.
Ok, on the real estate front this week it’s time to sweep September #’s as we continue to bring the heart of a teacher to our marketplace. Seattle & Eastside full color reports are complete and are now posted on Windermere Statistics. password: wreoctober (not case sensitive)
SEPTEMBER MONTHLY TALKING POINTS
Seattle (based on Residential and Condominium report):
• The market continues to move fast, yet continue to educate and set realistic expectations with Sellers – specific to their micro market.
> Months Supply of Inventory slightly down from this time last year to 0.8 (1.0 September 2016) – historically obviously still very low. (page #1)
> The percentage of closed sales selling for above list price was 53% in September (page #3) – this is slowly trending down > (56% August, 58% July, 65% June)
> Slightly over 75% of the homes that sold were on the market for less than 15 days. Keep in mind however that 25% of homes that sold were on the market for over 15 days. Continue to set realistic expectations with Sellers. (page #5)
• Seattle’s inventory remains as tight as ever, with homes being snapped up in days. A big hiring push by local employers keeps adding to the pressure. With supply dwindling and demand soaring, prices had only one place to go – up. In September, the median single-family home price in Seattle soared 15 percent over a year ago to $725,000.
• Based on normal seasonality, Buyers should be encouraged to try and buy this month or by the end of the year rather than waiting until January. Buyers should consider three things:
1) Can they afford the monthly payments?
2) Do they like the location?
3) Are they going to live in the house for a minimum of five years?
Question: Laura, where do you host your Double Down podcasts?
Answer: All episodes (#1-5) are hosted on the homepage of my website. Episode #6 has been recorded this week, currently in the editing phase and will be released soon! Descriptions of each podcasts have been included on my newly Tuned Up website. Click the microphone below, scroll down on my homepage and take your pick! Always there for you as convenient to you. I’m having a blast with my mobile studio. More to come.
That’s a wrap, sweep complete for this week! Have a fantastic wrap to your week and launch into a productive weekend of work + play. Here to help, that is the ultimate goal.
In partnership with you,
Laura Smith, General Manager | Windermere Real Estate Co.
Ballard + Eastlake + Madison Park + Northgate + Sand Point + Wedgwood