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June 2021 Real Estate Update
May was a record-breaking month for the real estate market. Inventory hit all-time lows, and home prices reached record highs. With the supply of homes so tight, this sizzling seller’s market is expected to continue throughout the summer.
High demand hammered inventory in May. While the number of new listings increased, homes sold within days, leaving the market with just a few weeks of available inventory. There were 43% fewer homes on the market in King County at the end of May as compared to a year ago. The supply of homes was particularly dire on the Eastside where inventory was down 71%, leaving just 239 single-family homes for sale across the entire area, which stretches from Issaquah to Woodinville. Snohomish County saw the same trend, with inventory down 60% year-over-year. With the local economy remaining strong and population continuing to grow, don’t expect demand to slow down any time soon.
With inventory so scarce, it was yet another record-breaking month for home prices. The median price of a single-family home in King County last month jumped 29% to an all-time high of $869,975. Home prices in Seattle soared 20% to a record $919,000. The Eastside posted a median price of $1,298,475, down slightly from its all-time high, but soaring 37% from a year ago. Slim supply and high demand resulted in 78% of homes on the Eastside selling for over the list price.
A 62% jump in pending condo sales in King County indicates that some buyers are opting for a more affordable home option. At a median price of $459,000, condos look like a relative bargain when compared to single-family homes. Snohomish County home values rocketed up as well. With some of the tightest inventory in the region, home prices there shot up 35% to a record $697,000.
It’s a challenging market for buyers, and it looks like it will continue to be that way for quite some time. Now more than ever, you need a broker who can help you set your priorities, strategize your options and negotiate successfully on your behalf. And sellers need someone who really understands this fast-changing market and who can create a plan to get you the greatest return on your investment.
The charts below provide a brief overview of market activity. Every Monday, Windermere Chief Economist Matthew Gardner provides an update on the US economy and housing market. You can get Matthew’s latest update here. If you are interested in more information, your broker can provide you with a detailed analysis of your specific area.
EASTSIDE
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KING COUNTY
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SEATTLE
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SNOHOMISH COUNTY
VIEW FULL SNOHOMISH COUNTY REPORT
This post originally appeared on
Circle of Friends with Temple Pastries
Kari Haas is honored to partner with Temple Pastries for the May/June 2021 Circle of Friends promotion!
Six times a year Kari Haas partners with a local business to bring her clients a free gift. For the May/June 2021 promotion, Kari is bringing her clients a complimentary pastry from the incredible Temple Pastries!
About Temple Pastries
Located in the Central District, Temple Pastries is the actualized dream of Christina Wood who creates incredible pastries, most notable the “Cruffin”! Temple Pastries opened its doors during the pandemic and the Kari Haas Real Estate Team is proud to support their delicious endeavors. Read all about Christina Wood and Temple Pastries in Seattle Met and Seattle Eater.
Circle of Friends
The Circle of Friends program is a way for Kari to support local businesses and provide her clients with a gift. Every two months, Kari partners with a local business. Some of the businesses Kari has partnered with in the past include:
- Tres Lecheria
- Einstein Bros. Bagels
- Caffe Ladro
- Legendary Doughnuts
- Dingfelder’s Delicatessen
- Great Harvest Bakery
- Nothing Bundt Cakes
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!
Kari Haas in Seattle Magazine
Kari Haas in Seattle Magazine December 2020
Kari Haas appeared in the December 2020 issue of Seattle magazine as part of the special section on top agents in the area.
The following is quoted from Page 74 of the December 2020 issue of Seattle magazine:
Five Star Professional – Five Star Professional partnered with Seattle magazine to identify real estate professionals in the Seattle area who deliver outstanding service and client satisfaction. The Five Star professional research team surveyed home buyers, home sellers and industry peers, and analyzed online consumer evaluations. Survey respondents rated their service professional on criteria such as overall satisfaction and whether they would recommend the provider to a friend. The research methodology allows no more than 7% of professionals in each category to receive the award.
Determination of Award Winners – Professionals who satisfied each of the following objective criteria were named a 2020 Seattle area Five Star Real Estate Agent:
-
- Qualifying rating
- Holds an active license and employed in their field for a minimum of three years
- Favorable regulatory and complaint history review
- Satisfies minimum production on a one-year and three-year basis
- Successful completion of a Blue Ribbon Panel review
Real estate agents are pooled only with other candidates from their profession.
The final list of 2020 Seattle-area Five Star award winners is a select group, representing approximately 4% of real estate agents in the area. Click here to learn more.
Kari Haas is an award winning agent known for treating clients like family and helping them sell for more and buy for less.
Let’s Sell Your House & Find Your Home!
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
KING COUNTY
SEATTLE
SNOHOMISH COUNTY
VIEW FULL SNOHOMISH COUNTY REPORT
This post originally appeared on GetTheWReport.com
November 2019 Real Estate Market Update
A steady influx of buyers continued to strain already tight inventory throughout the area in October. Home sales were up, as were prices in much of the region. With our thriving economy and highly desirable quality of life drawing ever more people here, the supply of homes isn’t close to meeting demand. Homeowners thinking about putting their property on the market can expect strong buyer interest.
EASTSIDE
As the Eastside continues to rack up “best places” awards, it’s no surprise that the area is booming. Development is on the rise, fueled primarily by the tech sector. The appeal of the Eastside has kept home prices here the highest of any segment of King County. The median single-family home price in October was stable as compared to the same time last year, rising 1% to $900,000.
Check out photos from our recent Luxury Real Estate Event!
On November 7th, guests had the opportunity to meet the builder of a brand new one-of-a-kind custom construction.
KING COUNTY
King County’s 1.74 months of available inventory is far below the national average of four months. Despite the slim selection, demand in October was strong. The number of closed sales was up 5% and the number of pending sales (offers accepted but not yet closed) was up 11%. The median price of a single-family home was down 2% over a year ago to $660,000. However, some areas around the more reasonably-priced south end of the county saw double-digit price increases.
In fall 2019, Kari helped her clients sell their homes for an average of 9% over list price in an average of 5 days.
Check out Kari’s Zillow reviews to learn more about how she goes above and beyond for her clients.
SEATTLE
Seattle home prices took their largest year-over-year jump in 12 months. The median price of a single-family home sold in October was up 3% from a year ago to $775,000, a $25,000 increase from September of this year. Seattle was recently named the third fastest-growing city in America. Real estate investment is surging. A growing population and booming economy continue to keep demand for housing –and home prices—strong.
Stay up to date with Kari’s current listings here!
SNOHOMISH COUNTY
Both the number of home sales and home prices were on the rise in Snohomish County in October. Overall homes sales increased 7%, and the median price of a single-family home rose 5% over a year ago to $495,000. Supply remains very low, with just six weeks of available inventory.
VIEW FULL SNOHOMISH COUNTY REPORT
This post originally appeared on GetTheWReport.com
STAY CONNECTED
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Seattle Real Estate Market – August 2019
The real estate market continued to moderate in July. Inventory rose and home values softened, providing buyers with increased selection and more favorable pricing. With strong job growth and interest rates holding at below 4 percent, brokers expect the market to remain solid through fall.
EASTSIDE
The market remains strong on the Eastside. The current tech boom continues to fuel demand, buoyed by Google’s recent plans to build out another office in Kirkland. An increase in inventory gives buyers more time to find the right home for their budget. The median price of a single-family home on the Eastside was $925,000 in July, down 2 percent from the same time last year.
KING COUNTY
Home prices in King County continued to ease. Buyers took advantage of lower prices and new inventory to boost home sales in July. The median price of a single-family home was $680,000, a 3 percent decline from the same time last year. More moderately-priced areas in the south end of the county saw continued price growth.
SEATTLE
It’s no surprise that Seattle is the top city in the country where millennials are moving. Apple plans to add 2,000 jobs in Seattle. The first of 4,500 Expedia employees will start moving into Interbay soon. While demand here is expected to stay strong, prices continue to cool. The median price of a single-family home was $755,000, down 6 percent from a year ago and a decrease of 3 percent from June. Southeast Seattle, which generally has more affordable homes, saw the median home price rise 9 percent over the same time last year.
SNOHOMISH COUNTY
Inventory remains very tight in Snohomish County. The number of listings on the market were up 6 percent over last year, and the county has only six weeks of available supply – far short of the four to six months that is considered balanced. The median price of a single-family home in July was $502,000 – up slightly from the median of $495,000 a year ago.
VIEW FULL SNOHOMISH COUNTY REPORT
This post originally appeared on GetTheWReport.com
Rainier Valley Is Rockin’!
Seattle has many fantastic neighborhoods. You’ve probably heard of Ballard, Queen Anne or Capitol Hill, to name a few. As these long-standing popular neighborhoods continue to increase in density, it is time to turn our attention to up-and-coming areas blossoming with fantastic restaurants and shops. Rainier Valley is on the top of our list!
For Sale: Fantastic Townhome
Located in south Seattle, Rainier Valley is a hub of excitement growing in conjunction with the communities of Columbia City, Hillman City, Brighton and Beacon Hill. Filled with independent, small and minority-owned businesses, great services and lots of activities, Rainier Valley is the place to be.
We created this handy guide to help you get started on exploring all that Rainier Valley has to offer. After hitting all the spots, we are sure you’ll fall in love with the are and want to move in!
THE NEIGHBORS
Columbia City
Columbia City is a historic landmark district in South Seattle, known for its international mix of restaurants and cafes, live music venues, Ark Lodge Cinema, and locally-owned shops and businesses. In the 1890’s, Columbia City was the last stop on the trolley line from downtown Seattle. Now, it is at the heart of the Light Rail line, 15 minutes from Sea-Tac Airport and 11 minutes to Downtown – Columbia City Business Association
Photo Credit – Columbia City Business Association Facebook
Hillman City
A community of collaborators, Hillman City is always abuzz with neighborhood gatherings and new businesses popping up. From breweries to co-working spaces, Hillman City is a wonderful area to relax and be yourself.
Brighton
Brighton is a primarily residential neighborhood in the Rainier Valley district. It is just south of the Hillman City neighborhood and about a mile and a half south of the Columbia City neighborhood and retail district. It was reportedly named “Brighton Beach” after the English resort city of Brighton in East Sussex.
Beacon Hill
Beacon Hill is a giant, pea pod-shaped neighborhood in south Seattle that is booming with new development. Beacon Hill offers residents – many families and young professionals – an urban feel without being too close to the hustle and bustle with lots of bars, restaurants, coffee shops, and parks.
FOOD
Geraldine’s Counter
People come from far and wide to stand in line outside of Geraldine’s. It is continuously voted one Seattle’s top breakfast and brunch destinations – and it is right here in the heart of Rainier Valley! Located on a busy corner in Columbia City, Geraldine’s supports customers from far and wide with Americana comfort food.
Empire Espresso
Empire Espresso is a cozy Columbia City gem that manages to feel both bustling and calm enough for reading or working. The staff are known for their seasonal latte art, so every frothy cup — from traditional to matcha to cayenne — ought to feature something Instagram-worthy. And the snacks include crispy waffles (including vegan and gluten-free versions), killer paninis, and hearty hummus plates. – Eater Seattle
Amy’s Merkato
Photo Credit – Amy’s Merkato Facebook
Established in 1992 by Amy herself and now owned by Judy and Filli, Amy’s Merkato is a restaurant, deli, and café AND, of course, is also Seattle’s first Ethiopian Market. The Google reviews and Globalist praise are enough for you to be sure Amy’s Merkato is the city’s best Ethiopian restaurant.
NW Peaks Brewery
If you didn’t believe us before, you need not worry any longer. NW Peaks Brewery, a stable of the hip Ballard community, has opened its doors in Rainier Valley’s Hillman City! It features unique beers and specialty casks for special occasions. Both tap rooms are open 7 days a week and are family friendly
Pizzeria con Cucina
It began as an idea back in 2004 inspired by a trip to Italy and stoked by some life experiences in Washington DC. After the owners moved back to the beloved Pacific Northwest, hosted several backyard fundraising parties, found investors, secured a location and undertook six months of building, the doors of Pizzeria con Cucina opened in Beacon Hill on July 15th, 2011.
SHOPPING
Third Place Books
Third Place Seward Park is a general-interest bookstore featuring new and used books with a used-book buying counter open seven days a week. It opened its doors in May of 2016 in the Seward Park neighborhood of south Seattle. It provides a gathering space for its community by hosting over 200 events a year! – Third Place Books
Photo Credit – Jacob Willard Home Facebook
Jacob Willard Home
Family-owned vintage furniture shop Jacob Willard Home operated online before opening its Hillman City showroom. In addition to a wide variety of restored midcentury furniture, it sells a selection of collectibles and LPs—and offers upholstery and refinishing services. Open Tuesday-Saturday, you can swing by the shop while you’re on your way home from work, the farmers market or a stroll! – Curbed Seattle
Hello Bicycle
In the winter of 2008, Hello Bicycle was founded with the mission to bring Beacon Hill a bicycle shop that could meet the needs of the diverse ridership in the area. Sam took ownership in 2018 and continues to help, educate, and encourage riders from all skill levels and background. Hello Bicycle approaches every encounter with the highest level of customer experience and detail oriented bicycle repair.
Southcenter
Okay, so it is not in Rainier Valley per say, but Southcenter is a fantastic area and shopping mall that is super close to Rainier Valley. There you will find everything you need from Target to iFly Indoor Skydiving and beyond!
BEAUTY, HEALTH AND WELLNESS
Photo Credit – Rocket CrossFit
Rocket CrossFit
Rocket is owned by husband and wife duo Brady and Alyssa. It was started in 2011 by Brady, who had a vision about creating community through fitness. “We are pretty sure we’ve got the best trainers in the city, and our incredible members deserve no less. We are the place where you can set aside all of your fears and insecurities while you find strength you didn’t know you had, cheered on by a remarkably diverse group of people who are doing the same thing.” – Rocket Crossfit
Tina’s Hair & Nail Salon
With top ratings on Yelp, Nextdoor and more, the community members of south Seattle and Rainier Valley LOVE Tina’s Hair & Nails Salon. They basically describe Tina and her staff as beauty wizards. It is quite possibly the most beloved hair/nail salon in Seattle. You be the judge!
PARKS
Photo Credit – City of Seattle
Kubota Gardens
The greater Seattle area has oh so many parks including the magical Kubota Gardens. It is a stunning 20-acre landscape blending Japanese garden concepts with native Northwest plants. Since 1987 it has been owned by the city and is an historical landmark. Visit the park to enjoy the beautiful landscaping or join in one of its many year-round events!
Seward Park
Just over the hill is one of the most peaceful parks Seattle has to offer. Named for William H. Seward, the Secretary of State who was responsible for America’s purchase of Alaska in 1867, Seward Park boasts 300 acres of something for everyone. It is home to eagles’ nests, forest land, old growth forest, a 2.4 mile bike and walking path, an amphitheater, a native plant garden, an art studio, a playground, shoreline, beaches and more.
SEASONAL
Columbia City Farmers Market
Seattle has a vibrant farmers market scene. The Columbia City Farmers Market, which began in 1998, is a beautiful gathering point for local farmers and community members to come together. Small farmers come in person to sell their food products to neighborhood residents while also providing education about their farm products and the importance of supporting and preserving local farmland. Check it out every Wednesday from May – October!
Photo Credit – BeatWalk
HONK! Fest West
HONK! Fest West is a free, non-profit, community music festival driven by the energetic performance of street bands in public spaces. Completely volunteer-planned and organized, HONK! festivals are a part of a global renaissance of community street band culture. For three days in Seattle area parks and streets, 25+ bands deliver music and celebration that is accessible to all. – HONK! Fest West
BeatWalk
For over 25 years, BeatWalk has brought incredible live music to the heart of Columbia City! Thanks to our generous sponsors, Beatwalk remains FREE for all ages! BeatWalk always features a great line-up of first-rate, local musicians hosted by neighborhood businesses for audiences of all ages. Since 1995 BeatWalk has brought music lovers together for a fun and safe night out on the town. – BeatWalk
SERVICES
Light Rail
Photo Credit – Kari Haas
The whole of Rainier Valley is conveniently situated along Sound Transit’s light rail including the new Othello Corridor. With numerous stops in the area, the whole city is at your fingertips! Such easy access makes Rainier Valley an excellent place to live.
Kari Haas – Windermere
After just 6 years in the industry, Kari Haas has risen to a top producer in her office of over 100 agents for the past 2 years in a row! Make sure to check out all the reviews she has on Zillow. If you or your friends are looking to buy or sell in the area, she’s the one you want.
Utilities
There is nothing more satisfying than easy access to your utilities. For that reason, we have all that info for you right here!
Cable, Internet & Phone: Comcast 800-934-6489; Wave 855-971-1252
Electricity, Garbage, Sewer & Water: Seattle Public Utilities/Seattle City Light 206-684-3000
Gas: Puget Sound Energy 888-225-5773
July 2019 Real Estate Market Update
The market in our region appears to be moderating. Inventory is up, prices are relatively stable and homes are taking a bit longer to sell. However, with less than two months of available inventory, supply is still far short of demand. Steady buyer activity, low interest rates and a thriving economy are making for a strong summer in the housing market.
Eastside
>>>Click image to view full report.
The median price of a single-family home on the Eastside was $950,000 in June, down 3% from the same time last year and up $21,000 from May. Many buyers are looking to take advantage of the Eastside jobs boom with Amazon announcing plans to build a 43-story tower in Bellevue and Google expecting to reach 1 million square feet of office space in Kirkland.
Kari Haas Stat:
Since April 2019, Kari’s buyers have bought at an average of 97% of list price. That means that Kari’s clients are buying for less than the industry average and therefore closing with more money in their pockets! Call Kari Haas today at 206-719-2224 to discuss your real estate goals.
King County
>>>Click image to view full report.
There was good news for buyers in June as a growing supply of homes helped boost inventory close to 2012 listing levels. The median price of a single-family home in King County was $695,000. That figure is a 3% drop from a year ago and virtually unchanged from May. 33% of homes sold above list price; another sign prices are moderating when compared to 52% of homes sold over list price this time last year.
Click here to see Kari’s current listings!
Seattle
>>>Click image to view full report.
Home inventory in Seattle inched slightly higher in June. However, with less than two months of supply, the city is still a solid seller’s market. Apple’s plan to turn Seattle into a key engineering hub can only add to demand. The median price of a single-family home in Seattle was $781,000, down 4% from a year ago and nearly unchanged from May.
Connect with Kari on Twitter
Snohomish County
>>>Click image to view full report.
After hovering around $500,000 since March, home prices in Snohomish County crept up in June. The median price of a single-family home was $515,500, as compared to $511,500 last June. Snohomish County continues to attract buyers priced out of the King County market, putting an additional strain on supply which stands a just 1.5 months of inventory.
This post originally appeared on the GetTheWreport.com.
March Real Estate Stats for King County
March Real Estate Stats for the King County
The spring home buying season started early this year. Open houses had increased attendance and bidding wars returned. After months of softening, home prices in most of the region jumped significantly from the prior month. With just one month of data, we’ll have to wait and see if this is the start of a longer upward trend.
If you are a buyer, you need an experienced agent on your side to win in multiple-offer negotiations. I, Kari Haas, am the broker you need! I win in over 95% of negotiations for my buyer when there is more than one offer. Call me today at 206-719-2224 to make a plan to achieve your goals!
Eastside
>>>Click image to view full report.
The Eastside was one area of King County that continued to see prices moderate. The median price of a single-family home on the Eastside was $900,000 in February, a drop of 5 percent from a year ago and down slightly from last month. However, supply here isn’t nearly enough to meet demand, a fact that most likely won’t change any time soon. Amazon’s latest expansion in Bellevue is expected to bring a significant wave of new employees to the city.
King County
>>>Click image to view full report.
The median single-family home in King County sold for $655,000 in February. While up slightly less than 1 percent year-over-year, it was an increase of $45,000 over January. Southeast King County, which includes Kent, Renton and Auburn, saw the greatest gains with prices rising 4.5 percent over the previous year. While inventory has grown, it is less than half of the four to six months that is considered balanced.
Seattle
>>>Click image to view full report.
More inventory and low interest rates helped bring buyers back into the market. The median price of a single-family home in Seattle hit $730,000 in February, down 6 percent from a year ago, but up $18,500 from January. With just six weeks of available supply, Seattle continues to have the tightest inventory in the county. Seattle’s record development boom shows little signs of easing, so we can expect strong demand to continue.
Snohomish County
>>>Click image to view full report.
The median price of a single-family home in Snohomish County reached $474,947 in February. Although that is a 2 percent decrease from last year, it is $5,000 more than January. As buyers push outside of King County to search for more reasonably priced homes, Snohomish County continues to struggle to find enough inventory to meet growing demand.
This post originally appeared on the WindermereEastside.com Blog.
