Category Archives: Seattle

November Median Sales Prices

Comparing year over year sales prices for the month of November, you’ll see that prices have stayed relatively static in Seattle and King County and are increasing in Snohomish and Pierce Counties. This is because many buyers are being priced out of Seattle and King County, and are moving further out where they can find greater affordability.

November median sales price

I’d love to talk with you about the real estate market and your goals. Please give me a call at (206) 790-0081 or email me so that we can chat.

Why You Should List Your House in the Winter

Many prospective sellers feel they should wait for spring to sell their home. They feel this way because of the seasonal downturn in the market and because homes don’t look as good without exterior flowers and plants and the general grayness of our part of the country.

However, there are several good reasons to list your home during the winter. The most serious buyers will still be out there – those that need to buy because of job relocation or need different space. And inventory is at it’s lowest, giving buyers fewer choices, so your home will stand out more.

To sell your home in the winter, there are some key things to do. Keep your home warm and cozy – buyers need to be comfortable when they come in the house and the warmer it is, the more likely they’ll stay longer. Leave lights on and shades open to keep the home bright. Make sure the yard stays neat and the roof is clean. Stage the home and have professional photographs that show off the home at its best.

If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, give me a call at 206-790-0081 or email at Jamie@JamieFlaxman.com so we can discuss the best time to list your house.

Market Update

September was an active month in the Western Washington real estate market, with year-over-year gains in pending sales, closed sales and prices, but it also showed an 18% drop in inventory compared to a year ago.

September’s activity had some areas up and others down. Pierce County prices rose more than 10% thanks to high demand and low inventory. Buyers being pushed out of the Seattle market are heading south. In Pierce County, the median sales price was $379,950, compared to $593,750 in King County. Snohomish County had a median sales price of $470,498.

King County prices were down slightly, 2.7%, while pending sales rose nearly 10%. This tells us that there is no shortage of buyers in the Seattle area. Home prices typically start to drop a little in the fall, so this isn’t a cause for concern.

In Pierce and Snohomish Counties in September, we saw inventory levels for single-family homes at 1.4 and 1.7 months, respectively. King County had 2.2 months. Historically, under 4 months of inventory is a seller’s market.

Overall, home prices have stabilized, creating great opportunities for buyers getting into the market. New jobs, lifestyle changes, and very low interest rates are driving the market and keeping our economy strong. My colleagues and I are seeing an increase in buyers at open houses, signifying that demand is still high.

For more information on buying or selling, please reach out to me at (206) 790-0081 orJamie@JamieFlaxman.com.

Just Sold in Wallingford

I’m excited to share that my listing in Wallingford recently sold. I listed it on July 30th for $850,000. The seller received multiple offers and the home recently closed for $937,000.

The seller of this home had lived there for more than 40 years and decided it was time to downsize and move into senior living. I helped her prepare the home for market including arranging for:

  • a person to help with selling and donating furniture and household items
  • a pre-listing sewer scope
  • repairs of some items in the home
  • professional staging

In addition, I provided professional photographs and a video tour of the home.

If you would like to learn more about how I can help you sell your home, please give me a call at (206) 790-0081 or email at Jamie@JamieFlaxman.com.

If a Home is Priced Properly…

It will still sell quickly. While the average days on market in Seattle for a single-family home in July was 26, my Wallingford listing just sold in 7 days with multiple offers.

As you work with your real estate broker to price your home, it’s important to find the sweet spot – that is, the spot that is likely to bring in the most buyers. The sweet spot means you’re in the market, not on the market.

For more information on selling your home or the real estate market, please call me at 206-790-0081 or email Jamie@JamieFlaxman.com.

Just Listed – Wallingford

I’m excited to announce my latest listing in Seattle’s Wallingford neighborhood. This home, built in 1941, has 3 bedrooms and 2 1/4 bathrooms and is move-in ready. It is listed for $850,000. Check out the video or the detailed listing.

Gardeners will love the yard (seller is a member of the Garden Club). Wonderful bonus space in the basement  – a perfect spot for the weekly poker game or movie night. Space for a huge wine cellar as well. Home is seismic retrofitted and has lots of storage.

Backyard

The location is phenomenal, just blocks to all that Wallingford offers, including:

  • Dining at places such as Pablo y Pablo, Bizarro’s, Dick’s Burgers, Tutta Bella, Molly Moon’s Ice Cream, and many local breweries
  • Near bus  routes 26, 31, 32, 44, and 62
  • Summer Farmers Market at Meridian Park
  • Community organizations such as Seattle Public Library, Wallingford Boys & Girls Club, Wallingford Senior Center, and the Good Neighbor Center
  • Schools nearby include Hamilton Middle School, Lincoln High School, BF Day Elementary, John Stanford International School, and Meridian School
  • Wallingford Park with tennis courts, playground, and wading pool across the street
Wallingford Park across the street

Please stop by an open house to check out the home:

  • Wednesday, July 31, 11am-1pm
  • Saturday, August 3, Noon-3pm
  • Sunday, August 4: 1pm-4pm

For more information, give me a call at 206-790-0081 or email Jamie@JamieFlaxman.com.

Seattle Q2 Market Update

Several things stand out when looking at market statistics for the 2nd quarter of 2019.

  • There are a lot more condos and single family homes for sale.
  • For both condos and single family homes, prices are still down from the peak of 2018.
  • Days on Market is down for condos and relatively stable for single family homes.

It is important to note that we hit the peak of the market in May/June 2018. We have had a market adjustment since then, primarily driven by increased inventory. However, for single family homes, we have around 2 months of inventory, meaning we are still in a market that favors the seller.

This increased inventory is great news for buyers who have more choice in finding a home. We have seen some return to multiple offers but not at the pace we saw over the past few years.

With condos, in June we had just over 3 months inventory. The condo market is being driven by more condo projects under construction and being announced, meaning that the inventory level for condos should continue to rise. The increase in the number of available condos is great for buyers and home affordability—condos usually allow for buyers to get into the market at a lower price than for single family homes. In fact, my first purchase of a residential property to live in was a condo as that was what I could afford back in 1995.

The best news for both buyers and sellers is that we’re at a 12 month low for interest rates which are under 4%.

For more information on buying or selling, please reach out to me at Jamie@JamieFlaxman.com or (206) 790-0081.

Farmers Markets

One of the things I love to do in the summer is to visit different farmers markets. From artisans hawking fresh eggs to those selling jewelry and dog sweaters, every farmers market offers a unique flair for the community it’s in.

This past Saturday I visited the Edmonds Farmers Market, one of my favorites, and learned that there are more types of cherries than just Bing and Rainier. Today I tried 2 types of cherries I’ve never seen before – a Stella and a Strawberry. I believe the vendor said the Stella is only grown on their farm.

You can go to this website to find all the local farmers markets and here are some of my favorites in King and Snohomish Counties:

  • Ballard Farmers Market – Sundays
  • Edmonds Farmers Market – Saturdays
  • Queen Anne Farmers Market – Thursdays
  • Phinney Farmers Market – Fridays
  • Columbia City Farmers Market – Wednesdays
  • Magnolia Farmers Market – Saturdays
  • University District Farmers Market – Saturdays
  • Wallingford Farmers Market – Wednesdays
  • Everett Farmers Market – Sundays

Have a great summer and get out to your local farmers market.

Class: Tips to Sell Your Home

If you’re thinking of selling your home, I’ve got a class for you. I’ll be offering it twice in June.

Class description: Are you considering selling your home? If yes, this class will help you understand the current real estate market as well as learning what type of preparation is necessary and tips on downsizing. Jamie Flaxman is a real estate broker with Coldwell Banker Bain and is a Seniors Real Estate Specialist.

Friday, June 7 at the Greenwood Senior Center, from 1:00-2:00. Call the Senior Center at (206) 297-0875 to reserve a spot, or contact me at (206) 790-0081 or jamie@jamieflaxman.com for more information.

Tuesday, June 18 at Aegis at Callahan House in Shoreline, from 12:00-1:00, lunch included. Contact Jason Baker at (206) 452-0285 to reserve a spot or contact me at (206) 790-0081 or jamie@jamieflaxman.com for more information.

Do you have a group where you’d like this class presented? Let me know. Or if you’re unable to attend either of these dates but would like to learn more about the selling process, give me a call/email to discuss your needs.

The Impact of Bedrooms on Price

In my experience I have found that most buyers are looking for a 3 or 4 bedroom home. They usually want 4 and often end up with 3. At the same time in working with sellers, I have found that a large proportion of the homes I list are 3 bedrooms. Does the number of bedrooms make a difference in the price you pay or receive?

YES!

I looked at sales of single family homes throughout the city of Seattle for the past 30 days and here’s what I found.

The 333 three-bedroom homes sold on average for $793,070 while the 192 four-bedroom homes sold for just over $1.1 million. I have to tell you while I expected there to be a difference, I did not expect to see a $300,000 difference.

For sellers, having or adding a 4th bedroom makes a huge difference. I listed a Phinney Ridge home last summer that was a 3 bedroom home. However, it had a fully finished room in the basement with large windows and heat. What it didn’t have was a closet. My clients spent a little money to create a closet, and now we had a 4 bedroom home. The room was staged as a guest room and looked great. (In most jurisdictions, the criteria to call a room a bedroom are: large window or exterior door for egress, a heat source, and a closet.)

If you’ve got a finished room that meets not all of the criteria for a bedroom, it might be worth a little money to make it a legal bedroom. Closets and heat are usually pretty easy to address. However, egress is not, so if there’s not a large window or the window is too high, this might not work for you.

For more information or to discuss the real estate market, give me a call at 206-790-0081 or email Jamie@JamieFlaxman.com.