Seattle Real Estate Up Over 20% From A Year Ago According to Latest NWMLS Press Release.
Like divorce stats, etc. (ask me about my theory on Elvis Vegas weddings sometime if you want a different discussion altogether), I think all numbers are skewed, but the latest NWMLS report from the close of the 2011 December Seattle real estate market would suggest otherwise. Without me going into the fact that I disagree with my friend OB (who happens to be the President of Windermere) on whether or not we have already turned a corner as he says we have in this latest report, here is a piece of the NWMLS news release:
“Healthy marketplaces” emerging with shrinking inventory, favorable financing
KIRKLAND, Wash. (Jan. 4, 2012) – Home sales finished the year much stronger than they started, with
pending sales for the fourth quarter outgaining the first quarter by more than 3,000 transactions for a 21
percent increase, according to new figures from Northwest Multiple Listing Service.
A year-over-year comparison shows December’s pending sales (mutually accepted offers) rose more than
20 percent from a year ago. Northwest MLS brokers reported 5,237 pending sales last month, up from the
previous year when they recorded 4,359 transactions.
Last month’s pending volume exceeded the number of new listings (4,604) for the second consecutive
month. The last time such an imbalance occurred was November 2006."
As I have stated before, you all know I am a highly positive person, but this is hardly turning a corner. I agree that we are heading in the right direction, but we haven't gotten far enough to have turned a corner. Less inventory just makes it appear this way temporarily. The banks have been holding off on plenty of REO inventory and we still have that mountain to get over before we can truly be out of this latest Seattle real estate market shift.
So what do you do if you want to sell your house?
Sell it now!!! Not to sound like a typical real estate agent who just wants the listing, I swear. Here is why:
There is a historical low amount of inventory (especially in neighborhoods like Queen Anne or Magnolia!!!!) and also ridiculously low interest rates, but even that is not my reason why if you want or need to sell you need to do it ASAP.
There are buyers waiting for your homes to buy them. This is not my reason either.
Here is the real reason - the dirty little secret no one is telling you:
If you think prices will go up in Spring 2012 and you are waiting for that, then I highly suggest you sell now because when those foreclosures start truly being released rather than just the trickle we have seen so far, the prices will reflect it and there will be far more competition to deal with. In short, you will have waited too long.
Call me or email me if you want to talk further about it. It merits a discussion if you need to sell, otherwise hang back and wait for the Seattle real estate market to absorb the floodgate of foreclosures and make another shift towards the positive. It will be a couple years at least, but it will happen.
Courtney Cooper
Seattle Realtor, Owner/Designated Broker/EcoBroker
Cooper Jacobs Real Estate
courtney@cooperjacobs.com
206-850-8841
(Seattle real estate - search all MLS listings from all companies for FREE), SeattleAfloat.com (Seattle Houseboats), GreenLakeLoop.com (Green Lake Blog), QueenAnneBoulevard.com (Queen Anne Blog), MagnoliaView.com (Magnolia Neighborhood Blog)
About Me:
Seattle real estate has been a big part of my life for well over a decade since I began my career in real estate,but also before that time when I was in the process of purchasing my own first home. Buying your first home can be quite overwhelming,but I have managed to help many first time home buyers along the way.
Move up Seattle buyers and other types of specialized purchasing is a great passion of mine! I love Seattle houseboats and you can find me down on the docks of Lake Union and Portage Bay several times a week. Other aspects of Seattle real estate that I adore include Queen Anne Real Estate,Wallingford Real Estate, Ballard Real Estate, Green Lake Real Estate, Laurelhurst Real Estate, Magnolia Real Estate,andSeattle Waterfront Real Estate.
In addition to being a Seattle residential broker and founder of Cooper Jacobs & Seattle Afloat, I am also a member of CBA (Commercial Brokers Association) and head of the Cooper Jacobs Commercial Division in an effort to provide excellent commercial real estate services to the Seattle commercial real estate industry. With a background in accounting and management, it is my great pleasure to coordinate our Seattle commercial brokers.
About Cooper Jacobs Real Estate's Seattle Branch:
My office at Cooper Jacobs Real Estate LLC is located centrally near all my favorite Puget Sound neighborhoods just a few blocks up from Lake Union in Seattle’s Wallingford. Cooper Jacobs Real Estate is a wonderful place filled with talented Seattle real estate brokers and I count myself extremely lucky that I get to spend so much time with these wonderful people. We specialize in different Seattle neighborhoods and suburbs in both residential and commercial real estate and are all very passionate and excited about each of our favorite Seattle neighborhoods and industries!
©Courtney Cooper ©Cooper Jacobs Real Estate LLC
