There is something to be said for the power of modern architecture. I have long admired the clean lines of Canlis, the windowed masterpiece perched on the east slope of Queen Anne. Now the restaurant is in the global spotlight, as it was recognized by James Beard with the 2019 Design Icon Award.
The last few years have proven fortuitous for Seattle, as the city has undergone sustained growth with new development projects. The Downtown Seattle Association recently reported that there are a total of 66 major projects currently under construction, a figure that is expected to stay relatively stable in the near future. From South Lake Union to SoDo, it isn’t hard to see that the city is expanding. Cranes are in view in nearly every direction you turn and it is hard not to wonder what is being built. The answer? Mostly, apartments.
Thinking about selling and want to know more about home prices in your neighborhood? Searching for a home and want to ensure you understand market fundamentals in the region? Our market moves quickly—and so do you. Meet the Realogics Sotheby’s International Realty “Market Tracker,” a new tool that puts the latest local real estate data at your fingertips.
I have long been drawn to the statement-making architecture of modern homes. February marks modern homes month at Sotheby’s International Realty®, which means the time has come to focus on clean lines and open layouts. I have curated a collection of extraordinary modern homes from around the Sotheby’s International Realty network, from the east coast to the west, Croatia and Dubai.
The year has come to an end and Realogics Sotheby’s International Realty took a look at the latest housing market statistics. In the final quarter of 2018 the region saw changing inventory with median sales prices that stayed relatively moderate compared to the previous quarter. Explore the trends in Seattle, the Eastside and Bainbridge Island.
Current zoning restrictions in various parts of Seattle are under discussion, as Seattle’s City Council has just begun what promises to be a debate on whether to upzone neighborhoods that have historically been reserved for single-family homes. Seattle Times has been keeping a close eye on the topic in a series of recent articles.
With effect from the October 2018 Case Shiller Home Price Index press release, Seattle officially dropped out of the nation’s top three residential markets by home price growth: “Las Vegas, San Francisco and Phoenix reported the highest year-over-year gains among the 20 cities [subject to the Case Shiller Index]. In October, Las Vegas led the way with a 12.8 percent year-over-year price increase, followed by San Francisco with a 7.9 percent increase and Phoenix with a 7.7 percent increase.” At 7.36 percent growth over the past 12 months, Seattle was not far behind; but the monthly result on the index (-1.05 percent) remained negative for a fourth consecutive month.
The coming of a new year inevitably brings about moments of reflection on months passed and gives us the opportunity to envision where things will head over the course of the next year. As we begin our journey into 2019 and prepare to set—and achieve—our real estate goals, let’s take a look at the 2019 Housing Market Forecast with the experts at Forbes magazine and realtor.com®.
Following the release of the latest S&P Case Shiller Home Price Index, the Seattle Times once again proclaimed the decline of residential home prices in the Seattle metropolitan area. Contrary to headlines, however, trendlines give way to a more nuanced story. Some are using the Case Shiller Index to reinforce misleading growth reports, so let’s have a look at the data used to calculate the Index and compare it to results gathered from sales data in the Northwest Multiple Listing Service (NWMLS).
Earlier this week, S&P Dow Jones released the August 2018 monthly results of their CoreLogic Case Shiller Home Price Index. Until two months prior, the Index had shown Seattle leading the nation in residential (single-family) home prices for 21 months. That run was brought to an end by a surge of prices in Las Vegas; and while prices in Seattle have continued to advance, the pace has slackened in the weeks since.
Statistics from the third quarter of 2018 are here and Realogics Sotheby’s International Realty has crunched the numbers with a look at home price trends in Seattle, the Eastside and Bainbridge Island. While the last few reports continued to outline a trend of low inventory and rapidly rising prices, change is afoot in the Puget Sound region, with home price growth steadying and inventory rising to levels not seen for years.
A recent Seattle Times housing column tackled a topic that is an important key to understanding our local housing market: zoning. As the article outlines, though 69 percent of Seattle’s residential plots of land contain single-family homes (which is about average compared to the nation’s 50 largest cities) it “generally devotes a lot more of its housing to single-family homes,” which is putting more pressure on a city struggling with affordability amidst rising demand.
I was thrilled to lend my insight to the Madison Park Times digital edition this month to discuss the latest market trends in our neighborhood.
Realogics Sotheby’s International Realty presents a look at the housing market trends for the first quarter of 2018, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
I am pleased to present Realogics Sotheby’s International Realty’s review of 2017 market activity in the Puget Sound. William Hillis, our acclaimed Research Editor and Data Analyst, has assembled a year-over-year performance review of eight key counties and 29 regional markets. In addition to market analysis, the report includes a timeline of Seattle’s performance on the S&P/CoreLogic Case-Shiller Home Price Index, the “Condominium Conundrum,” landmark sales on the Eastside, the effects of Chinese capital controls and Canada’s restrictions on foreign buyers, and more.
As a recent Mansion Global article outlines, the rewards of investing in overseas real estate are many. It affords an opportunity to learn more about other cultures while diversifying your portfolio and accruing gains over time. Yet with the benefits comes a more complicated transaction process of navigating unfamiliar ownership laws, tax codes, and more.