© Mariko Mitsui Real Estate

Volume 1 2016 Issue

P uget Sound area home sales,prices still strong
Home prices have "clearly recovered" in King County and a few otherareas served by Northwest Multiple Listing Service. Many member-brokers
say prices are likely to keep rising as a backlog of buyers competes for
depleted inventory.

held by California markets. Seattle's median home prices rose 10 percent
from a year ago in October, according to RealtyTrac. Here are
RealtyTrac's top 3 counties where sellers, on average, sold for the largest
percentage profit since purchase:
1. Alameda County, California: 75 percent gain
2. Santa Clara County, California: 61 percent gain
3. San Mateo County, California: 58 percent gain

Selling prices for single family homes and condominiums that sold acrossthe Northwest MLS 23-county service area surged 8.6 percent from a year
ago, rising from $290,000 to $315,000. The price of a single family home(excluding condos) that sold in King County during December jumped
nearly 15.5 percent, from $440,000 to $508,000, prompting OB Jacobi,president of Windermere Real Estate to comment, "If December told us one
thing, it's that home prices have clearly recovered in King County. Lastmonth the median price for single family homes broke the pre-recession
record of $481,000 that was set in July 2007."

B reakouts! – Residential SOLD Average
December 2015 (King/Snohomish/Piece County) SOLD Average
Average $Area (Area Code)Average $2015 VS
2014
12.60%

Dec. 2015

Dec. 2014

Auburn-Federal Way (110-310)$332,391$ 295,199

Kent-Maple Valley (320-340)
West Seattle (140)$$358,711
558,046$ 331,372$ 459,362

Another industry leader, J. Lennox Scott, chairman and CEO of John L.
Scott, noted the 9.2 percent drop in King County's pending sales during
December, saying "The only reason pending sales dropped in King County
was due to a lack of inventory." MLS figures show active listings in KingCounty were down 39 percent (about 1,400 fewer properties) from 12months ago.

SODO-Beacon Hill (380-385)$498,106$ 452,705

E.lake-Madison-Capital Hill (390)$866,317$ 926,350-6.48%

Queen Anne-Magnolia (700)$930,317$ 820,593

13.37%*Belltown-Downtown Seattle(701) $723,646$ 499,480

44.88%

Ballard-Greenlake (705)$638,011$ 559,658

14.00%$753,237$ 610,347

23.41%

Area-wide, inventory was off 29 percent from a year ago, plunging from17,659 active listings to 12,522. That total includes 4,041 new listings theMLS brokers added during December, which was down from 4,367 themembers added during the same month a year ago.

North Seattle (710)
Shoreline/Richmond Beach (715)$569,441$ 477,099

19.35%

Bellevue Downtown (520)$ 1,783,473$ 1,423,963

25.25%

Mercer Island (510)$ 1,384,194$ 1,231,458

12.40%

Bellevue South-Newcastle (500)$829,679$ 820,787

1.08%

Renton Highlands-Downtown (350) $490,617$ 453,831

8.11%

Microsoft-Bellevue East (530)$717,343$ 708,925

1.19%

Kirkland Downtown (560)$927,197$ 935,066-0.84%

Redmond (550)$705,848$ 694,325

1.66%

Issaquah-Sammamish (540)$706,250$ 666,482

5.97%

Juanita-Bothell-Woodinville (600)$638,493$ 540,644

18.10%

Bothell North-Mill Creek (610)$538,104$ 491,140

0.00%

Pending sales system-wide, which totaled 5,970 during December, clearly
outpaced the brokers' ability to replenish inventory. The sales volume wasup 3 percent from a year ago when members reported 5,794 mutuallyaccepted offers. Measured another way, last month's pending sales
outnumbered new listings by a wide margin - a differential of 1,929 units.
"With the backlog of buyers waiting in the wings, any new inventory thatcomes on the market will be snapped up immediately," predicts Northwest
MLS director Frank Wilson. He expects 2016 may be "very stressful" forsome buyers, citing low inventory, increasing prices, rising interest rates,
plus a growing pipeline of qualified buyers as sources of house-hunter
anxiety.
Lennox Scott also foresees a fast-paced, "intense" market, with prices
escalating in areas where inventory is low. "The lack of inventory near job
centers persists," he remarked. Buyers come out in big numbers beginning
January 1, he noted, but new listings come later, typically toward the end ofFebruary.

8.25%
21.48%
10.03%$455,730$ 398,116

14.47%

Everett-Mukilteo-Snohomish (740) $370,633$ 346,665

6.91%

Edmonds-Lynnwood (730)*Condominium SOLD Average

D on’t Let Winter Chill Your Home Sale
Most areas see a downturn to sales in the winter months; usually fewer
homes are on the market. Makes it a great time to sell as competition is
low and could provide an edge to sellers. Make your home look like ahaven from the gloomy weather.

Market Activity Summary for December 2015
Listings
Single Family

NewHomes & Condos Listings

Closing Sales

Total

PendingClosings

Average

MedianPricePrice

1,314

2,196

1,934

2,612

$547,700$450,000

Snohomish

685

1,345

1,067

1,189

$365,530$337,500

Pierce

717

2,129

1,172

1,209

$278,660$249,950

Total

2,716

629

4,173

5,010

$397,297$345,817

King

Active# ofF orty eight percent profit in King County
King County home sellers are seeing an average of a 48 percent profit
since purchase, according to RealtyTrac's October 2015 U.S. Home Sales
Report. King County was tied for seventh in the poll with Travis County,Texas; and Contra Costa County, California. Six of the top 10 spots were

Keep it Clean. Keep leaves, snow and debris out of the walk ways.
Make it warm and cozy. Turn up the heat, light a fire or use flamelesscandles.
Lighten up. Turn on the lights, open the blinds. No one likes a dark house.
Add some ambience. Add pillows and a throw. Make the home inviting.

Gina Brown (NMLS#115337)

Weekly Primary Mortgage Market Survey® (PMMS®)

Mortgage Specialist /Mortgage Capital Associates

January 12, 2016425-766-5408
gina@gmgloan.com
www.loansbygina.com

A verage Rates

Regional Breakdown

Fees & P o ints
APR30-Yr
FNM A
3.750%30-Yr
FHA
3.250%

15-Yr
FNM A
2.875%

5/1
A RM
2.875%*All loans are with a one point origination fee.

3.879%

4.218%

3.099%

2.997%

740 credit score and 20% down payment for conventional
640 credit score and 3.50% down payment for FHA