© Mariko Mitsui Real Estate

Volume 1 2019 Issue

A ttentive home buyers can find”Good values and receptive sellers”
December brought few surprises for real estate brokers in Western
Washington with holidays, fluctuating interest rates, and volatility inconsumer confidence contributing to slower activity. Several leaders from
Northwest Multiple Listing Service described 2018 as a transition year forresidential real estate.
New data from the MLS show inventory in its 23-county market area
dipped below two months of supply for the first time since July. A year-overyear comparison of the number of new listings, pending sales, and closed
sales show drops overall, while prices rose from the same month a year ago.
Member-brokers added 3,631 new listings of single family homes andcondominiums during December (10.4 percent fewer than a year ago),
boosting total active listings to 12,275, up from the year-ago volume of
8,553. Pending sales were down about 8.4 percent from twelve months ago(5,677 versus 6,198), and the volume of closed sales dropped nearly 16.6
percent (6,374 versus 7,642).
For 2018, members of Northwest MLS reported completing 92,555
transactions, which compares with 99,345 closed sales during 2017 for adrop of about 6.8 percent. The median price on last year's closed sales ofsingle family homes and condominiums combined was $402,000, up $32,000(8.64 percent) from 2017.
The 12,275 active listings in the MLS database at year end was down fromNovember when inventory totaled 15,830 properties, and down from 2018's
peak of 19,526 listings at the end of September. Measured another way, therewas 1.93 months of supply at the end of December, with four-to-six months
typically considered to be a balanced market. A year ago there was only 1.12
months of supply.
"We're continuing to see a balancing of the market, yet it is still sellerleaning, driven by our region's continued job formation and a lack ofinventory," observed Mike Grady, president and COO of Coldwell Banker
Bain. "For all the talk of doom and gloom in real estate" he said his
calculations show home values have increased at four times the rate ofinflation since December 2014 when the "hot market" began.
J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, said afavorable market is returning for home buyers in Seattle and the Eastside.
"Improved affordability, with both lower interest rates and adjusted lower
housing prices from the spring of 2018 will lead the way," he stated, adding"Although unsold inventory of homes for sale is still considered a shortage,
the larger number of unsold homes, combined with new listings, will
moderate the price increases in the year ahead."
Market Activity Summary for December 2018
Listings
Single FamilyNewHomes & Condos Listings
KingSnohomishClosing Sales

Total

Pending

Active# ofAverage

MedianClosings

Price

Price

1,035

3,690

1,770

2,157

$728,616$597,000

529

1,562

899

1,021

$511,598$454,900

Pierce

680

1,728

1,056

1,134

$379,457$339,838

Total

2,244

6,980

3,725

4,312

$539,890$463,913

Seattle ranked #4, one of the bestcollege cities in the nation
There are plenty of colleges around the Seattle area, and those that
attend school here do so in one of the best college cities in the nation,according to a new study. Seattle ranked No. 4 among large cities andNo. 11 overall, says the study by WalletHub, which compared morethan 400 U.S. cities based on 30 key indicators of academic, social andeconomic growth potential. The data set ranges from cost of living toquality of higher education to crime rate. Seattle rated high on nightlife
options (6th out of 208), 15th in least amount of "brain drain", 24th incity accessibility and 32nd in quality of higher education. Where
Seattle rated not-so-great was in percentage of available rental units(154th), and cost of higher education (163rd). This indicates a great
opportunity for investing in rental property in the Puget Sound area.

B reakouts! – Residential SOLD Average
December 2018 (King/Snohomish/Pierce County) SOLD Average
Area (Area Code)Average $Average $2018 VS

Dec. 2018

Dec.2017

2017

Auburn-Federal Way (110-310)$

419,495 $395,155

Kent-Maple Valley (320-340)$

507,472 $

476,734

6.45%

West Seattle (140)$706,478 $

706,784-0.04%

625,398 $628,702-0.53%

6.16%

SODO-Beacon Hill (380-385)$E.lake-Madison-Capital Hill (390)$1,234,469$ 1,216,882

1.45%

Queen Anne-Magnolia (700)$

1,127,151$ 1,128,447-0.11%*Belltown-Downtown Seattle(701)$916,000 $854,663

7.18%

Ballard-Greenlake (705)$786,922 $

816,839-3.66%

North Seattle (710)$855,036 $

848,655

0.75%

Shoreline/Richmond Beach (715)$695,651 $

630,91210.26%

Bellevue Downtown (520)$

3,253,063$ 2,806,006

15.93%

Mercer Island (510)$2,994,470$ 2,012,359

48.80%

Bellevue South-Newcastle (500)$1,127,982$ 1,125,431

0.23%

Renton Highlands-Downtown (350)$

Microsoft-Bellevue East (530)$

Kirkland Downtown (560)$Redmond (550)$985,448 $889,720

Issaquah-Sammamish (540)$953,776 $943,592

1.08%

Juanita-Bothell-Woodinville (600)$

929,903 $813,853

14.26%

Bothell North-Mill Creek (610)$763,641 $

730,517

4.53%

Edmonds-Lynnwood (730)$598,138 $

580,646

3.01%

Everett-Mukilteo-Snohomish (740)$

489,391 $451,077

8.49%

629,167 $612,660

2.69%

1,269,264$ 1,063,325

19.37%

1,375,846$ 1,324,142

3.90%
10.76%*Condominium SOLD Average

H ome maintenance tips
Many homeowners don't think about home maintenance until something
breaks, but that's not the best way to take care of your home. Here arethree tips to help you protect your investment and keep your property ingood shape for years to come:-Create and Follow a Home Maintenance Schedule.
Have All of Your Home Systems Checked Regularly.
Follow a Cleaning Schedule. Keeping home clean is just as important.
Weekly Primary Mortgage Market Survey® (PMMS®)
January 10, 2019
Regional Breakdown

Gina Brown (NMLS#115337)
Senior Loan Officer
425-766-5408
gina@gmgloan.com
www.loansbygina.com

Average Rates
Fees & Points
APR30-Yr
FNMA
4.25%

30-Yr
FHA
3.75%

15-Yr
FNMA
3.625%

5/1
ARM
4.25%

*All loans are with a one point origination fee.

4.387%

4.574%

3.862%** Owner Occupied / Single Family Residence
740 credit score and 20% down payment for conventional
620 credit score and 3.50% down payment for FHA

4.387%