Market analytics that matter to you

Inform your decision to sell your home with current real estate trends.

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-22%

Change in Transaction Volume

For listings sold in Q1 '21 vs. Q4 '20Percentage increase or decrease in the volume of sold transactions compared to the previous quarter for this ZIP code

--

Change in Median Price

For listings sold in Q1 '21 vs. Q4 '20Percentage increase or decrease in the median price of sold transactions compared to the previous quarter for this ZIP code

5%

Change in Median PPSF

For listings sold in Q1 '21 vs. Q4 '20Percentage increase or decrease in the median price per square foot for sold transactions over the previous quarter for this ZIP code

29

Median Days on Market

For listings sold in Q1 '21Median number of days from when a property was first listed until it went into contract compared to the previous quarter for this ZIP code

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Browse properties currently listed on the market in this zip code

A $67 price per sq ft increase equates to over $100,000 in Price increase for a 1,500 sq ft home!

The local housing market ignored the traditional winter slowdown and kept its foot firmly on the accelerator in January. While inventory levels were generally down in December, there was actually an uptick in new listings in King, Pierce, and Snohomish counties last month. That being said, most of those homes sold so quickly they aren’t reflected in the overall total active inventory numbers.

The NWMLS report covering 26 counties, shows a YOY increase in new listings of single-family homes and condos (up about 5.5%) and a jump of more than 16% in closed sales, rising from 5,074 transactions to 5,896. The median price for last month’s sales surged 14.3% from the year-ago figure. Pending sales grew slightly from last year (less than 1%) but were up 7.4%.

If interest rates weren’t historically low, buyers would be unable to afford the escalating cost of housing, the local report suggest. Many Brokers are feeling nervous about where this market is headed. Help is not on the way. Sellers are almost as rare as the dodo bird. New listings are immediately devoured by a plethora of waiting buyers. The situation has buyers asking, “Am I paying too much?” and sellers asking, “Can we ask more?” That answer for both is “Yes,”.

Klahanie Residential Q4
PPSF = $416.83
Median Price Sold $890,000

Klahanie Residential Early 2021:
PPSF = $483.33 UP $67 per sq ft
Median Price Sold $899,257

Klahanie Condo Q4
PPSF = $385.35
Median Price Sold $507,250

Klahanie Condo Early 2021:
PPSF = $402.77 UP $17 per sq ft
High so far: $600,000 for 1484 sq ft

Housing Crisis 2021: Lack of Inventory

As a seller in this market you need to make sure that you have a Broker who understands the intricacies of Bidding Wars and how to help you maximize your home’s value. Getting top price is absolutely a priority but there are many other things to consider as well. Do you want to stay in the home past closing? Are you purchasing another home in the market? Appraisals? Inspections? The advantages and disadvantages of an all cash offer v/s financing. Protections if the buyers walk or financing changes, and much more.

We recently sold a home in Klahanie that listed at $475,000, received 28 offers in 1 day and went for $625,000 once everything closed. Having represented over 1,000 clients in the past few years on either side of Bidding Wars, we KNOW how to help you through the process!

We looked at the data on thousands of offers agents for The Cascade Team wrote and received in the last two years to see how the strategies we track affected buyers’ odds of winning a bidding war.

 

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