© Mariko Mitsui Real Estate

Volume 10 2016 Issue

Western WA Housing Market Still Strong
It's still a seller's market, but some leaders from Northwest Multiple
Listing Service think the imbalance may be easing in some areas, pointing
to a slower pace of sales and moderating prices. Others aren't convinced,
citing mixed indicators.
Northwest MLS statistics summarizing September activity show yearover-year gains in the volumes of new listings (up 14.5%), pending sales(up 9.3%), closed sales (up 9.5%), and prices (up nearly 9%). Inventory forsingle family homes and condominiums across the 23 counties in the report
dropped about 8 percent from a year ago.
MLS members continue to scramble to replenish inventory. Compared toa year ago, they added 1,275 more new listings during September, ending
the month with 10,047 total new listings. Like most months this year,
however, September's pending sales of single family homes and condos
exceeded the number of new listings. Brokers reported 10,463 pending sales(mutually accepted offers) last month for a 9.3 percent improvement over ayear ago.
"We have one month until November when new listings coming on themarket drop by 50 percent on a monthly basis compared to spring andsummer months," explained J. Lennox Scott, chairman and CEO of John L.
Scott Real Estate. With the decrease typically lasting until the end ofFebruary, Scott said for selection, "the best opportunity for homebuyers tofind a home will be in the next 30 days."

dropped 81 percent in August. The cause, according to the Sun, could
have to do with the recently introduced offshore investor tax. Theoffshore tax adds an extra 15 percent in property tax fees on residential
real estate being purchased by foreign buyers.

B reakouts! – Residential SOLD Average
September 2016 (King/Snohomish/Piece County) SOLD Average
Area (Area Code)Average $Average $2016 VS2015
7.70%

Sept. 2016

Sept. 2015

Auburn-Federal Way (110-310)$340,990$ 316,613

Kent-Maple Valley (320-340)
West Seattle (140)$$423,096
547,488$ 359,142$ 521,510

SODO-Beacon Hill (380-385)$567,844$ 493,876

4.98%
14.98%

E.lake-Madison-Capital Hill (390)$ 1,001,292$ 878,721

13.95%

Queen Anne-Magnolia (700)$ 1,105,903$ 964,404

14.67%

17.81%*Belltown-Downtown Seattle(701) $895,125$ 805,122

11.18%

Ballard-Greenlake (705)$685,071$ 628,700

8.97%

North Seattle (710)$719,238$ 716,239

0.42%

Shoreline/Richmond Beach (715)$540,908$ 585,923-7.68%

Bellevue Downtown (520)$ 2,254,208$ 2,305,735-2.23%

Mercer Island (510)$ 1,627,658$ 1,343,832

21.12%

Bellevue South-Newcastle (500)$949,470$ 805,848

17.82%

Renton Highlands-Downtown (350) $487,912$ 449,320

8.59%

Demand for homes around Puget Sound remains strong, with the market
showing "no marked change throughout the summer months," remarked
MLS director Dick Beeson, the principal managing broker at RE/MAX
Professionals in Tacoma. Well-priced, well-conditioned homes continue tocommand attention and draw offers in record time, he noted.

Microsoft-Bellevue East (530)$786,296$ 784,927

0.17%

Kirkland Downtown (560)$998,933$ 956,798

4.40%

Redmond (550)$779,240$ 648,351

20.19%

Issaquah-Sammamish (540)$823,120$ 664,946

23.79%

Juanita-Bothell-Woodinville (600)$661,593$ 597,935

10.65%

September was "an interesting month for a few different reasons," noted
OB Jacobi, president of Windermere Real Estate. Among factors he citedwere the modest increase in the number of new listings in the tri-county
region (King, Pierce, and Snohomish) and the slowing pace of sales andprices. "The good news is that all of this points towards a market that isslowly beginning to rebalance itself."

Bothell North-Mill Creek (610)$544,849$ 500,802

8.80%

Edmonds-Lynnwood (730)$499,120$ 454,685

9.77%

Everett-Mukilteo-Snohomish (740) $413,344$ 383,221

7.86%

Median sales prices system-wide jumped nearly 9 percent from a year
ago, from $312,000 to $340,000. Compared to August, prices dropped by$10,000.

*Condominium SOLD Average

I s your home’s title ready to transfer?
If your home is currently on the market, you want to do everything
possible to assure a trouble-free transaction once you have an offer inhand. Having a preliminary title report on your home will help easeany potential issues. Some common difficulties include;

Market Activity Summary for September 2016
Listings
Single Family

NewTotal

Closing Sales
Pending# ofAverage

Closings

PricePrice

3,309$600,129$494,950

1,601

1,431

$404,414$377,000

1,805

1,508

$306,745$274,900

7,183

6,248

$437,096$382,283

Homes & Condos Listings

ActiveKing

4,019

4,519

3,777

Snohomish

1,625

2,133

Pierce

1,524

2,863

Total

7,168

9,515

MedianClaims against the property
Marital rights of a spouse
Unpaid judgements
Incorrect information about the sellers
Birth or adoption of children after the date of a will which bequeaths
the property
Missing heirs who have claim to the property
Falsified documents or improperly recorded documents
Smart sellers prepare their home for buyers and for the title transfer!

S eattle property is getting more looks
Seattle property is getting more looks than its sister city to the north,according to a report in mynorthwest.com. The Vancouver Sun reportsthat figures from Chinese website Juwai.com, which connects
investors with international home sellers and real estate agents, shows
property buying inquiries from foreign investors shot up in August
compared to August 2015. Meanwhile, inquiries in Vancouver, B.C.

Weekly Primary Mortgage Market Survey® (PMMS®)

Gina Brown (NMLS#115337)

Octo ber 17, 2016

Mortgage Specialist /Mortgage Capital Associates

Regional Breakdown

425-766-5408
gina@gmgloan.com
www.loansbygina.com

A verage Rates
Fees & Po ints
A PR

30-Yr
FNM A
3.375%

30-Yr
FHA
2.875%

15-Yr
FNM A
2.750%

5/1
A RM
2.750%*All loans are wit h a one point originat ion f ee.

3.501%

4.278%

2.973%2.871%** Owner Occupied /Single Family Residence
740 credit score and 20% down payment for conventional
640 credit score and 3.50% down payment for FHA