January 2020 Newsletter

the

Volume 11 | Issue 1

EYE ON THE

JANUARY 2020

market

With what experts are calling the “November Surprise,” came an increase of buyers in the tri-county Puget Sound region. Even with competitive, sparse inventory around the market, November ended with a 9.2 percent year-over-year increase in pending sales. Median sales prices also jumped compared from a year ago and from October of this year.

For November’s 7,216 closed sales (up 5.5 percent from a year ago), the sale price was $434,900 area-wide. A gain of about 10 percent from November of last year. Compared to October 2019 this was an increase of 3.5 percent for single family homes and condos combined.

With the steady increase of demand for homes in our area, brokers are unable to replenish inventory to keep up. New listings added to inventory was down nearly 15 percent. The imbalance between new listing and pending sales resulted in supply falling to 1.58 months.

This is the lowest system-wide level since December 2018.

While the shortage of inventory may be frustrating to buyers, along with other factors, it is an indication that our region’s economy is strengthening.

The latest press release from the Northwest MLS states that the upper end of the market saw an influx of buyers looking to grab “trophy

LOCAL properties,” most notably buyers and investors from California looking to diversify their real estate holdings.

December typically marks a low point for new listings and lower levels of unsold inventory. This pressure may send prices even higher for the typically more affordable and mid price range homes.

There isn’t an expected inventory increase until spring.

Pierce County has also seen a steady increase in pricing. While some parts of the county only recently reached prices higher than where they were in 2007, they are now rapidly catching up with other surrounding areas. It continues to be one of the hottest markets in all of the U.S. November’s listings and sales numbers continue to show that buyers are driving for affordability when it comes to their home purchases. Buyers are looking to the north, south and east to find homes to fit their lifestyles and budgets.

SETTING GOALS FOR A SUCCESSFUL 2020 A step-by-step breakdown of how to accomplish your goals this year!

1) Commit: Declare your relevant and meaningful goal and write it down as a form of a commitment.

2) State your “why”: State your motivations—why it’s important to you, what benefits you’ll get from it, and how you’ll stay accountable.

3) Set a deadline: Set a reasonable deadline to avoid procrastinating.

4) Set a reward: Set a reward to look forward to and to motivate you more.

5) Break it down: Break down your goal to avoid being overwhelmed by setting progress markers and deadlines for each.

6) Plan ahead: Identify obstacles you might face and come up with solutions to overcome them and eliminate excuses.

happenings

1-20 Bellevue Downtown Ice Rink bellevueicerink.com

1,20 Free State Park Days discoverpass.wa.gov/136/StateParks-Free-Days

3-5 Puyallup Home & Garden Show puyalluphomeshow.net

4-5 Seattle Wedding Show weddingshow.com

10-12 OrcaCon orcacon.org

10-12 Monster Jam monsterjam.com

11,14 That’s Impossible Presents eventbrite.com

18-19 Pacific Northwest Reptile Show pacnwrs.com

19 Winter Wedding Expo in Everett greaterseattleonthecheap.com 1/24- Seattle Boat Show 2/1 seattleboatshow.com

25 Belgian Fest washingtonbeer.com

26 The Murder Mystery Co. presents A Dance With Death eventbrite.com

31 Masquerade XII centuryballroom.com

IS YOUR HOUSEHOLD PREPARED IN CASE OF

JANUARY

EMERGENCY?

IMPORTANT DATES Wednesday, January 1 New Year’s Day CW and Counties are closed

Monday, January 20 Martin Luther King Jr. Day CW and Counties are closed

POST-HOLIDAY recycling tips

 water: one gallon of water per person per

Give gently used toys a new home: Think about taking some of your children’s gently used toys and donating them to a charity after the holidays. It’s a great way to teach your children the importance of giving. For each gift they receive, let them select one toy to donate. Donated items are a tax write-off, so save the receipt.

Christmas tree recycling: Most cities have curbside tree recycling or a Boy Scout troop in the area that will take trees for a small donation. Most yard waste collection providers require the tree to be cut in pieces before it’s placed in a yard waste bin. Contact your county for more information:

Recycle your holiday lights at the following locations: christmas-light-source.com HolidayLEDs.com McLendon Hardware stores (several locations) Point Defiance Zoo & Girl Scouts of Western Washington (several locations, pdza.org/event/ zoolights/)

King County - Curbside recycling available your.kingcounty.gov/ solidwaste/garbage-recycling/ tree-cycling.asp

Gift Cards Below are ways to get unwanted gift cards out of your wallet.

Exchange, sell or donate to charity: cardcash.com cardkangaroo.com cardpool.com giftcardbin.com giftcardgranny.com raise.com retailmenot.com

Snohomish County - Check with your yard waste collection service or city government website.

Pierce County - curbside recycling if subscribed to yard waste collection www.piercecountywa.org/ index.aspx?nid=1551

NEW YEAR’S TIPS FOR THE HOME Cut down on your use of energy and reduce your carbon footprint — Install LED bulbs and low-flow showerheads and toilets to reduce your energy and water consumption. Try composting food scraps and compostable items—good for the environment and your garden! Adding a smart home device could also help you save money on your energy bills.

Clutter, be gone! - Work out a system for getting on top of household chores and de-cluttering every so often. You can also create extra storage space with storage furniture.

It’s recommended that every household have some basic supplies on hand in order to survive for at least three days if an emergency occurs. Following is a listing of basic items that every emergency supply kit should include:

There’s always room for improvement — Pick a home improvement project that you want to focus on for the year: perhaps a new deck, a tree house, or even planting a tree or flowers in the garden.

Last but not least…budget! - Create a budget for home maintenance and improvement expenses for the year. Find ways to save on those expenses as well as household items and appliances by finding coupons or phone apps that will let you redeem for cash back.

Volume 11 | Issue 1

day for at least three days, for drinking and sanitation  food: at least a three-day supply of nonperishable food  can opener for food  battery-powered or hand-crank radio and a NOAA Weather Radio with tone alert, and extra batteries for both  flashlight and extra batteries  first aid kit  whistle to signal for help  dust mask to help filter contaminated air, and plastic sheeting and duct tape for sheltering in place  moist towelettes, garbage bags and plastic ties for personal sanitation  wrench or pliers to turn off utilities  local maps  important family documents, such as copies of insurance policies, identification and bank account records, in a waterproof, portable container  cash or traveler’s checks, and change  sleeping bag or warm blanket for each person  complete change of clothes, including a long-sleeved shirt, long pants and sturdy shoes  household chlorine bleach and medicine dropper, which can be used to create a disinfectant (nine parts water to one part bleach)  fire extinguisher  matches in a waterproof container  personal hygiene items  mess kits, paper cups, paper plates and plastic utensils, paper towels  paper and pencil  emergency reference material such as a first aid book Also as applicable:  books, games, puzzles or other activities for children  prescription medications and glasses  infant formula and diapers  pet food and extra water for your pet For more information, go to www.ready.gov.