MID-JUNE 2018
Pacific Publishing Company – Queen Anne & Magnolia News • Capitol Hill Times • Madison Park Times • City Living Seattle
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Home & Real Estate www.CityLivingSeattle.com
S E R V I N G
N O R T H
S E A T T L E
N E I G H B O R H O O D S
S I N C E
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BALLARD, FREMONT, GREEN LAKE, NORTHGATE, PHINNEY/GREENWOOD, RAVENNA/ROOSEVELT AND WALLINGFORD
What a Difference Another Month Makes! Simple Steps for Smart Storage and Easy Moves If you read our article What a Difference a Few Months Make! in the April issue of City Living you learned that there was a significant increase in multiple offers and the ultimate sales price of homes in Northwest Seattle. We feel like I could title this article “What a Difference Another Month Makes!” Inventory levels have been increasing around 50% month over month since March. In May we saw the largest number of homes come on the market
and we are definitely not seeing as many offers on homes. At the time of this writing there were 153 homes available for sale in Northwest Seattle. The average days on market for those homes is 32 days. From a long-term historical perspective 34 day that is not a long time. However, from a short-term perspective, where homes averaged 6 - 9 days, that feels like a long time. For homes currently under contract (Pending) the average days on market are 14. We are also seeing more price drops than in previous months. 16% of the homes currently on the market have had price drops. We talk with a lot of Brokers throughout the city and we are hearing the same feedback from everyone we chat with. We try and stay in
tune with the current market conditions, which can change weekly depending on how many homes have come on the market. As you can imagine, pricing homes in this type of market presents its own unique set of challenges. As listing Brokers, we focus on our current market statistics – who is our current competition and what are recently Pending properties selling for; these two data points should be the driving force in setting a list price. If you are considering selling your home soon, do not overprice, buyers and their Brokers are savvy, even a slight overpricing of your home will likely stall a sale. Price at market value and allow the market to drive the price up from there.
Sandra Brenner, Managing Broker CRS, SRES, MCNE Steve Hill PREMIER Broker ®
Windermere Real Estate/FN in well over a year. This increase in the number of homes available for sale has given buyers a bit of breathing room. May is historically one of the highest months for homes to hit the market and this year was no exception. Buyers also paid slightly less in May than they have in previous months. The price per square foot has been hovering in the upper $400s for the past three months. Buyers paid an average of $477 in March, $494 in April and $474 in May. This has been the first significant drop in price per square foot in NW Seattle in well over a year. It will be interesting to see where these numbers are in June. As Brokers, it feels like we’ve hit a plateau or a slight softening in the market. Homes are remaining on the market a little longer than they have been the past few months
(StatePoint) Did you know 66 percent of Americans have difficulty finding things in household storage? And more than half are frustrated by the task. Instead of stressing, consider using smart, tech-based storage solutions, like the Duck Pack & Track app-based labeling system to keep things organized. It uses a smartphone app and labels with unique QR codes to help you keep track of your boxes’ contents. Additional information is available at DuckPackAndTrack. com. Other things you can do to improve your storage skills? Turn stacks of paperwork into digital files by scanning them or snapping photos. Take advantage of vertical space by installing shelving and hooks. Also, some pieces of furniture, like ottomans, can pull double-duty as extra places to store books, photo albums, blankets, pillows and more. Don’t let your next move or seasonal cleaning be overly stressful. Smart solutions can keep you organized from start to finish.
LOCAL AGENTS with a North Seattle Focus Terry Miller
Pamela T. Bowe MBA, Managing Broker
206-947-7914
Stephen Shepherd
pamelabowe@cbbain.com 1200 Westlake Ave. N. #406 Seattle, WA 98109
Real Estate Broker 206.946.2804
Managing Broker, CRS, CRB 206 954-7174 terrymiller@cbbain.com www.seattleresidences.com
stephenshepherd@cbbain.com
Serving greater Seattle since 1985 FIVE STAR: Best in Client Satisfaction Real Estate Agent 2008-2017
Beth Toomey
Global Luxury Director (206) 949-6325
bethtoomey@cbbain.com www.bethtoomey.com
Audrey Manzanares REALTOR® ABR, SRES
Cell (206) 779-7325 Office (206) 283-8080 audrey@windermere.com audreymanazanares.com