Market Economics + Fortune Telling
This week Christina and Kyleigh attended a “State of the Market” course with a famous economist in our Seattle area. In this course, we focused on what the market is currently doing + what it’s going to do, based on historical perspectives. By watching the current and past trends + analyzing statistical data, you can become a “fortune teller” of sorts when it comes to our economy, especially in the housing market.
Seattle had the biggest one-month jump since records have been kept. The median home value rose $45K in one month, taking it to $655k for a single family home (that’s a 7.4% increase from the month prior). And this isn’t just in Seattle either – the entire state is seeing the market begin to grow warmer.
The Northwest MLS reported in their latest press release that at month end, NWMLS members reported 11,275 total active listings – that’s a 42.3% increase from 12 months ago.
Good real estate agents are always analyzing the numbers – it’s how we know what to price your home at, how long you can expect your house to sit on the market before it sells, what a strong offer looks like and how much $ you can expect to spend, and much, much more. It takes a lot of time (+ experience) to closely watch the patterns of real estate investments. Knowledge is power in this business, so if you are shopping for an agent to work with, make sure they know their stuff.
More Facts Coming Your Way
There’s a lot of information we have to cover here on the Dwell blog, including:
- Condition of the Market
- Real Estate Cycles
- Home Ownership Rates
- The Biggest Market Issues of 2018
- 2019 Predictions
- Residential Real Estate
- New Construction
- Condo Market
- Millenials vs. Baby Boomers
- Interest Rates & Credit Availability
- Health Check on Washington + Seattle’s Market
- + more!
We’ll be diving deeper into each of these topics (+more!) in the coming weeks, bringing you the numbers and the predictions behind it.
Luckily, we spend just about every waking moment, living and breathing real estate. Which is why we were nerding out at this SOTM course yesterday! (Follow us on Instagram + Facebook so you don’t miss out on our posts and stories while we’re at events like this.) Stay tuned for powerful info – helping you be a more educated buyer + seller.
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Curious about the market? Thinking about buying or selling? Or just have general real estate questions? We are here to help! This is our bread + butter. Call, text, or email us and we’d love to help you. Let’s chat!
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