October’s numbers are in and inventory continues to wane for King County residential homes, down 15% compared to last month and 40% year over year. The median listing price was just under $530K, with an average sale price of $427K, up nearly $40K compared to the previous year. Buyers came out strong, as homes were on the market for an average of just 28 days, down 30% from last year’s numbers. In downtown Seattle, condo inventory was down 15% from the previous year but rose slightly compared to last month. The median sale price held steady from month to month but was up $35K from last year’s average.
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What the Real Estate Industry Needs to Know about Millennials
According to an infographic recently released by Inman, the real estate industry needs to stand up and pay attention to millennials, because they “will greatly impact and shape the residential real estate market, as well as housing design and development.” Further, “they are the largest source of new demand for rental housing and first-time home purchases.” As the infographic describes, millennials are “projected to be 3/4 of the workforce by 2025” but half of millennials are currently renting. This means there will be an onslaught of millennial homebuyers coming onto the market as time progresses.
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Encore Preview Event at Fort Lawton Draws 200+ Guests on Seahawks Sunday
On Sunday September 27th, more than 200 registered guests joined members of the Fort Lawton Sales Team for a special preview of the sales center and model home in advance of the public sales debut scheduled for Saturday, October 10th. This encore was a follow up to a series of events that took place over the previous week, including an initial preview weekend and a private reception hosted by Rise Properties in recognition of their broader development team.
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SeattlebyDesign Listing Floats its Way into the New York Times
On August 26th, The New York Times Real Estate Spotlight explored “What You Get for $785,000,” targeting exceptional residential real estate listings in Maine, Virginia and Seattle. The Seattle highlight? None other than our Fairytale Floating Home!
Sotheby’s Intl Realty’s Luxury Lifestyle Report
“We observe China as the soon-to-be largest economy and a wealth engine with a high propensity for its nationals to seek financial safe harbor and education overseas. Asian demographics are the fastest-growing segment in Washington State with the greatest number stemming from China.”
Other markets covered in the report include The United States, The United Kingdom, and Brazil. View more insights in our Luxury Life report.
Delille Cellars to Open a Wine Tasting Room in Partnership with Realogics Sotheby’s International Realty in Downtown Kirkland
Following is a press release regarding our new Realogics Sotheby’s International Realty office in Downtown Kirkland of which we are Founding Brokers. We look forward to better be able to serve our clients East of Lake Washington!
