Author Archives: Kerstin

Seattle Market Update We have less than one month supply of homes available for sale. In a balanced real estate market, there should be around a six-month supply of homes. Anything under six months supply is a seller’s market, anything over is a buyer’s market. Inventory cannot keep up with demand at this point. ThisContinue reading “Brooks & Heinze Seattle Real Estate Team – April 2021 Newsletter”

Seattle Market Update Few homes came on the market between Thanksgiving and the first half of January. We have seen an increase in homes hitting the market in the last week of January and first week of February but it is not enough inventory to meet buyer demand. It is a hot seller’s market –Continue reading “Brooks & Heinze Seattle Real Estate Team – February 2021 Newsletter”

Seattle Market Update Six of the ten most competitive cities for buyers in the US are in Washington State, according to a Redfin analysis, but Seattle is not one of them. Instead, relatively affordable Seattle-area suburbs are the sizzling hot markets, especially Spanaway, Lacey and Tacoma. We are barely 1 ½ weeks into the NewContinue reading “Brooks & Heinze Seattle Real Estate Team – January 2021 Newsletter”

Seattle Market Update The median sale price in Seattle was $820,000 in November, up 12% from a year ago; on the Eastside, the median price cracked $1 million to slightly below $1.1 million, an 18% jump from last year and in North King County, the median price rose 19% to $737,000 (NWMLS). It’s a seller’sContinue reading “Brooks & Heinze Seattle Real Estate Team – December 2020 Newsletter”

Seattle Market Update The Spring Market was a little slower than usual this year due to Covid-related restrictions. The Summer Market was competitive with few listings and high buyer demand. This trend has continued on into the fall season. It’s a seller’s market for single family homes especially in the suburbs. In some urban markets,Continue reading “Brooks & Heinze Seattle Real Estate Team – November 2020 Newsletter”

Seattle Market Update The hottest season in real estate in our area is usually spring (April through mid-June), followed by fall (Labor Day through October). But nothing about 2020 has been normal. With shut-down orders in the spring, summer became the new home-buying season. And now, fall buying season is in full swing. In theContinue reading “Brooks & Heinze Seattle Real Estate Team – October 2020 Newsletter”

Seattle Market Update Low interest rates continue to give buyers great buying power but they also face rapidly increasing home prices and sparse inventory. Competition from other buyers is so fierce that many buyers are waiving inspections, offer well above asking price and waive financing and appraisal contingencies. Waiving some of these contingencies greatly increasesContinue reading “Brooks & Heinze Seattle Real Estate Team – September 2020 Newsletter”

Seattle Market Update We are seeing an extreme shortage of homes for sale.  The supply/demand imbalance is causing prices to ratchet up. Multiple offers are back with a vengeance. Buyers only have about half the inventory of a year ago to choose from. When buyers find a home they like, it is likely that theyContinue reading “Brooks & Heinze Seattle Real Estate Team – July 2020 Newsletter”

Seattle Market Update It is a seller’s market and the local real estate market is hot. Inventory is critically low and there are not enough homes available to meet demand. Brokers added 9,871 new listings to the MLS database during May, which compares to 14,689 for the same period a year ago. Buyers are eagerlyContinue reading “Brooks & Heinze Seattle Real Estate Team – June 2020 Newsletter”

Seattle Market Update Even as concern over the rapid spread of the novel coronavirus mounts, the market for Seattle-area homes remains hot. It’s too early to tell just what the impact of the novel coronavirus will be in the coming weeks, however, low inventory, low mortgage rates and excited spring buyers are keeping sales moving.Continue reading “Brooks & Heinze Seattle Real Estate Team – March 2020 Newsletter”