April Real Estate Report

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Ci Ci and WatsonI love Broadview as it is quiet, friendly and just a few minutes down 3rd Avenue to Ballard, Greenwood and Fremont. As my fourteen year-old dog, Ci Ci, doesn’t go far, I walked my younger dog, Watson, around the neighborhood tonight and met at least five others doing the same thing. The gardens were in bloom, I could hear birds singing in the trees and the clouds surrounding the Olympics were dramatic over the water!

The Northwest Multiple Listing Service April press release came out today and gave a summary of the market in March. March saw less inventory than ever with more escalating prices. That said, many of us commented in our sales meeting today that we are seeing more inventory coming on the market now; while we can’t pre-market our own listings, I know of two homes going on the market in the next couple of weeks, and some of our brokers announced listings coming up by the end of the week in the core Seattle neighborhoods.

Click here to read the press release.

The Rainier Title Market Flash came out in late March with the February statistics so I waited to send it out with this early April report. While some neighborhoods such as Ballard/Wallingford are showing a negative appreciation (205 new listings, 183 closed sales) of -5.7%, Magnolia/Queen Anne/Lake Union (95 new listings, 75 closed sales) shows about 19.4%. West Seattle (140 new listings, 122 closed sales) is showing 28.6% appreciation. Central and downtown Tacoma reads 46% appreciation – it is going strong thanks to the port agreement and the enhancing of the infrastructure.

The more detailed appreciation report by Rainier Title is also available at the same link below. This is organized by zip code rather than by neighborhood. Broadview, or 98177, is a neighborhood I follow as I live there and it had the following data:

5 closed sales in February vs. 9 last year with a -44% change, a median $667,500 sales price vs $660,000 last year. The median sales price went from $684,500 to $634,000, or -7%.

Click this link and see what is happening in your zip code!

One other way of looking at this is by a chart generated by our office:
Residential Percent Active Inventory Sold Pending February 2016

On a lighter side, here are more articles to read regarding real estate:
Going to New Heights to Please Buyers
Opulent Staircases
Stage Your Home for the Millennial Buyer
The Best Colors to Use When Staging Your Home
See the “Newsy Links” page for more of the latest real estate related links!