Bridle Trails, Washington

Trusted Realtor® Shares December 2017 Luxury Housing Report January 12, 2018

Bridle Trails, Seattle East
Trusted Realtor® Shares December 2017 Luxury Housing Report, Seattle East, Washington

With the start of a fresh new year in real estate, it’s the perfect time to look back at how the luxury market fared in Greater Seattle and the Eastside last year. Nancy Olmos - Realtor - John L. Scott HWP, Bellevue shares the real estate industry trends of 2017 and what they might mean moving into 2018. As a trusted Realtor® for over 25 years, she strives to keep clients informed about market trends so they can make the best buying or selling decision.

realtorThe $1 million market is seeing a shortage in new listings. New listings are showing only a 10% growth compared to an increase in pending sales of 19% over the same period one year ago. This shortage of supply is fueled primarily by a genuine shortage of properties in the $1-to-3 million markets, with an under two-month supply in both the $1-to-1.5 million and $1.5-to-2 million markets. The $3-to-5 million market remains healthy, and the $5 million-plus market shows little movement. Compared with the same period in 2016, this overall downward supply market trend has resulted in a 26% drop in active listings. While the 19% bump in sales reflects a strong demand from buyers, the monthly supply has seen a nearly 1-month drop in the same year-to-year period.

The need for sellers is strong, and prospective new listings should be motivated by the strong buyer demand and leverage found in such a short-supply market. In contrast, the $5 million-plus market has seen little movement and is, by all measures, a strong buyers market. The $3-to-5 million market is far more balanced, with a healthy supply of buyers and sellers.

If you want to work with the best in residential real estate in Washington, look no further than Nancy Olmos - Realtor - John L Scott HWP, Bellevue. With 27 years of experience serving the Greater Seattle Area and Eastside, Nancy Olmos is your trusted real estate partner. From remodeling to staging and marketing your home, she is the Realtor with the market knowledge and expertise to guide you through your toughest transactions. To schedule a free consultation, give her a call today at (206) 235-1332 or visit her website for more information.

Other Announcements, Events and Deals from Nancy Olmos - Realtor - John L Scott HWP, Bellevue
Real Estate Broker Provides 3 Tips for First-Time Home Sellers, Seattle East, Washington
Although buying a home greatly differs from selling one, real estate brokers know that both processes can be nerve-wracking. These days, it can also be difficult to get sta...read more
Fantastic Sunny Burnstead Resale in Maplewood, Seattle East, Washington
Cool A/C.Two Master bedrooms. Mini master on Main. Upstairs master with newly remodeled ensuite. Formal Living & Dining  with Butler Pantry. Fab Kitchen/Great room. Special ...read more
Top 3 Steps First-Time Buyers Should Take Before House Hunting, Seattle East, Washington
As exciting as the prospect of buying your first house is, the actual search process can be exhausting and complicated. However, being properly prepared prior to browsing real estate...read more
Why It’s Essential to Hire an Experienced Realtor®, Seattle East, Washington
If you want to buy or sell a home, choosing a Realtor® based on location might seem like a good idea. After all, a local professional will know the area—and, subsequently, ...read more
Why Local Market Expertise Is Vital in Residential Real Estate, Seattle East, Washington
As you prepare to buy or sell a house, you have to consider a variety of factors in the process. One of the most important is the location you’re buying or selling in, as you must kn...read more