We’re thrilled to share Realogics Sotheby’s International Realty’s 2025 Market Report, covering all of the most relevant year-over-year data, market trends, economic factors and housing policies shaping the industry, and insights from experts. In addition to the illuminating retrospective, the report also looks ahead to what we might expect from our shifting market. After several years of elevated mortgage interest rates and low levels of inventory, many buyers and sellers have been left wondering if 2025 will finally bring the perfect market conditions they’ve been waiting for.
The fourth quarter is typically a slower period for real estate activity, with many sellers and buyers deferring their plans to enjoy the holiday season and prepare to hit the ground running in the new year. However, the report reveals that many buyers were motivated to make their purchases during the fourth quarter, rather than waiting for 2025 or the historically busy spring selling season.
On October 23, 2024, over one hundred Realogics Sotheby’s International Realty (RSIR) brokers attended a bi-annual Market Maker panel and discussion at the Bellevue branch. Led by RSIR leadership, the featured keynote presentation was made by economist Matthew Gardner of Gardner Economics. To follow, a pro-panel of experts on the topic of the $90 trillion “Great Wealth Transfer” included Amy Mutal of Prevail Wealth Management, Jolene Messmer of Movement Mortgage, retired developer and investor, Trevor Jones, of T. Jones Group, and Gardner. The event concluded with a hosted luncheon by Jocovine Bistro and an interactive presentation by Jeff Walters of HINES Global Wealth Strategy on the topics of 1031 exchanges and 721 capital gains tax deferral strategies, amidst political pressure on tax policies with the US presidential election.
In exploring the year-over-year comparisons for 16 of the region’s distinct communities, we can see a major boost in seller activity, with sizable increases in inventory for most of the markets. Buyers were able to make their real estate moves with more options available to choose from than we saw in Q3-2023. As for sellers, price growth in most communities meant that their decision to list their homes paid off.
There’s nothing quite like grabbing a bouquet of fresh flowers and warm baked goods from Pike Place Market, strolling the waterfront and catching sight of the snow-capped Olympics, and stopping into your favorite boutique selling local goods. A day spent exploring Downtown Seattle seems to offer the best that our iconic Emerald City has to offer, whether you’re a lifelong resident or a first-time visitor. So, it’s no surprise that despite facing the type of obstacles that many urban centers experience, particularly during the pandemic, Seattle continues to thrive—and it’s thanks in part to Mayor Bruce Harrell’s Downtown Activation Plan.
We are excited to present our Market Trends From Around the Sound report, examining insightful data from this year’s second quarter. Buyers continue to work through the obstacle of high interest rates, but as we see a shift in the market with both sellers and buyers accepting this new normal and choosing to achieve their goals now rather than later, we see more activity in both listings and purchases. Explore our year-to-year comparison of helpful data like median sales price, average days on market, and inventory levels for 16 distinct communities within the Puget Sound region.
Water defines life in the Pacific Northwest. Nowhere is this more true than in western Washington, where urban lakes, Puget Sound, coastal shores, and idyllic islands entice the bold and beckon those who long for a respite. There is truly nothing like a piece of shoreline to call your own. With this in mind, Realogics Sotheby's International Realty presents the 2024 Waterfront Report to help inform the next steps on your selling or buying journey.
It’s a new year but our market is marked with similar obstacles as the previous year: high interest rates that continue to deter potential buyers and low levels of inventory. Before we proceed with the rest of the year and see the expected rebound with the spring sales season encouraging more activity, we’re looking back at the first quarter of 2024 with our Market Trends From Around the Sound report. Explore our year-to-year comparison of insightful data like median sales price, average days on market, and inventory levels for 16 distinct communities within the Puget Sound region.
We’ve been calling the “inflection point” for many months, and we can see that clearly illustrated when the trends reversed course in 2023. According to Trendraphix’s recently released (month-to-date) March data, there was a 23.4% year-over-year increase in pending sales in the four-county (King, Snohomish, Pierce, and Kitsap County) region. The spring sales season has kicked off early this year, promising more activity and indicating pent-up demand.
We're thrilled and deeply honored to receive the 'Top Producers 2023 - Downtown Seattle' recognition from Realogics Sotheby’s International Realty.
The Sotheby’s International Realty® 2024 Luxury Outlook report overviews industry trends in high-end residential markets around the world and highlights what you can expect in the year ahead.
As we look forward to 2024 and prepare ourselves to navigate a new year’s market, we’re covering some of our predictions for trends and shifts to look out for and how our buyers and sellers can prepare. With over six decades of combined experience, we’ve seen countless markets come and go. Throughout the years, we’ve proven that it is possible to exceed our clients’ expectations, even amid challenging markets.
As Seattle and Eastside real estate brokers with decades of experience, we closely monitor market trends to provide our clients with the most up-to-date information. The 2024 housing market forecast, drawing on data from Realtor.com and other reputable sources, presents a mix of continuity and change, offering insights for both homebuyers and sellers in our area.
In a housing market where nearly half of Americans worry they may never own a home, we’re facing unique challenges. With the scarcity of available homes for sale and a growing trend of properties selling above asking price, many prospective buyers, including first-time buyers, are feeling disheartened. However, there’s a strategy that most potential homebuyers are unaware of—one that can reveal more affordable options even in the face of stiff competition.
Mortgage rates continue to be top of mind and a tricky challenge to navigate for even those with extensive experience in purchasing real estate or seasoned investors with multiple assets. So, it’s no surprise that many first-time buyers find themselves overwhelmed by the high rates as they attempt to search for their perfect abode or starter home. However, the first step to achieving success amid a market marked with obstacles is to understand exactly what is going on, how it directly affects you, and strategies you can employ to reach your real estate goals, regardless of rates.
When investing in real estate, we want our homes to appreciate. Amid high interest rates and a slow-growth economic picture, ensuring your investment is wise is more important than ever. Each quarter, Realogics Sotheby’s International Realty looks back at key indicators of the real estate market across several communities and counties so that you can make an informed decision about the next step in your real estate journey. In some counties, we saw growth; in other communities, home prices continued to decline year over year, though none drastically fell. Explore these reports, and when you’re ready to have a conversation, reach out to us so you can work together to achieve your real estate goals.
As we bid farewell to summer and slowly welcome the embrace of the fall and winter seasons, spending more time indoors becomes inevitable. Ev, with a background in mental health and now channeling that understanding into real estate, recognizes that plants can enhance not just the aesthetic of your home but also contribute significantly to your well-being.
From beachfront living on Alki Beach, where you can wake up each morning to an inspiring view of glistening Puget Sound and the majestic Olympic Mountains, to a chic downtown Seattle high-rise with access to world-class theater, high-end shopping and great dining at your fingertips, luxury condominium living in Seattle is having a moment.
Building upon the Q1-2023 data, the present Western Washington real estate market maintains its cooler demeanor compared to the same period last year. The impacts of inflation and rising interest rates continue to exert a moderating influence on the market. The unprecedented surge witnessed in early 2022 has now transitioned into a more stable environment, marked by a decrease in frenzy.
As we march ever forward after a challenging few years, Seattle’s downtown core is coming back to life. From the sparkling tech headquarters in South Lake Union, to the beloved live music venues of Belltown, to the quirky vintage shops of Capitol Hill, these urban neighborhoods showcase our resilient Pacific Northwest nature, while providing city conveniences and easy access to all things Seattle.
Water defines life in the Pacific Northwest. Nowhere is this more true that in Western Washington, where urban lakes, Puget Sound, coastal shores, and idyllic islands entice the bold and beckon those who long for a respite. There is truly nothing like a piece of shoreline to call your own. With this in mind, Realogics Sotheby's International Realty presents the 2023 Waterfront Report to help inform the next steps on your selling or buying journey.
May is Mental Health Awareness Month and we want to shine a light on the importance of mental well-being and how to nourish your own. With our roots in psychology, this topic is not just relevant, but deeply personal. We believe in fostering communities where mental wellness is not only acknowledged but actively nurtured and celebrated.
If you’ve seen the headlines, you already know—inflation and rising interest rates cooled the market in the latter half of 2022. That slow pace carried into the first quarter of the year, and while the headlines might suggest the housing market has been in a slump, many areas have simply not seen the rocketing (and in many cases, unsustainable,) growth that marked the pandemic-era housing boom. As a result, the median sold price for single-family homes stayed relatively flat year-over-year.
Current headlines are awash covering rising mortgage rates, high inflation, and political turmoil. But guess what? Investors and economists have already factored in these uncertainties, and there are signs of a strong rebound in our historically “first in – first out” Puget Sound economy. The window of opportunity is here, don’t miss it. The housing market is rebounding faster than the media can catch up. But when the market rebound makes a headline, prepare for FOMO.
Can you believe March is nearly here and spring will bloom in less than a month? Life passes us by in a blur when we’re having fun and working hard, so it’s no surprise that intentionally slowing down and evaluating the wellness level of our home isn’t at the top of the priority list. When we’re in need of inspiration, we look to others who are doing admirable work and that inspires us to get started. Here are some of the best home wellness insights we’ve come across recently
We are pleased to introduce the Sotheby’s International Realty 2023 Luxury Outlook report, which outlines the industry trends and happenings across high-end residential markets around the world.
Do you find that gatherings with your colleagues, friends, and family around the holidays usually prompt self-reflection? If you answered yes, you are certainly not alone. This time of year, many of us become inundated with messages about how our lives should look and how we should feel, and this can oftentimes spark feelings of inadequacy, disappointment, or pressure from the outside world to “get back on track.” We think it’s time to throw those rigid ideas of “perfection” to the curb and take back control of our own self-worth while prioritizing the feelings, mindsets, activities, and people who bring us the most joy. We’re going to start by rethinking our New Year’s resolutions for 2023 and sharing Parade.com’s recent article highlighting 55 resolutions to try.
We’ve now fallen back and gained an hour of sleep (hallelujah) but with this increase in energy comes a dark cloud that reduces our daylight hours and can dampen our mood. Seasonal Affective Disorder (SAD) is a type of depression related to changes in seasons. Symptoms typically begin in the fall and continue through the darker winter months, finally resolving in the spring and summer as we regain more daylight hours. SAD is “a solvable problem,” according to Cliff Mass, a University of Washington professor of atmospheric sciences. His advice?
In our quarterly reports, we dig into the numbers to help you decipher what they may mean for achieving your real estate goals.
If you want to live in the very heart of Seattle, look no further than Queen Anne. A pleasant stroll through this charming neighborhood will unveil an array of luxurious homes, some of which date back to the early 1800s. Residents here will tell you they love the small-town vibe without sacrificing proximity to Downtown, Lake Union and Puget Sound. Famous for its vistas and cobblestone streets, you will find no shortage of picturesque sunsets, mountain views, downtown skylines, and more around each corner. But when responsibilities beckon, you can easily check off your to-do list thanks to the area's plethora of shops, grocery stores, banks, hardware shops, post offices, and more.