Hi <<First Name>>,

I hope that you have been able to get out this summer and enjoy the beautiful weather, although with the current heat wave and smoky air, perhaps you're finding some indoor activities to do as well. As I write this, I am in Couer d'Alene, Idaho, visiting with friends and hanging out by the lake. It's been a busy summer for me workwise, with several listings and more to come in September. Read on for the market update and recent listings and sales.

Jamie

Market Update

July brought the Puget Sound region lots of sun and heat. With school out, many took time to go on vacation, go camping, and visit with family. As a result, and fairly typical for our region, we saw a summer calm in the real estate market. Buyers are finding less competition and prices not escalating as exorbitantly as in previous months.

NWMLS statistics show there were fewer pending sales last month (11,567), than during both June (12,328) and May (11,969). July's volume was down about 8.8% from the year-ago total of 12,682 pending sales. 14 of the 26 counties in the Northwest MLS report showed year-over-year (YOY) gains in new listings, with half of them reporting double-digit increases: Clallam, Clark, Cowlitz, Ferry, Grays Harbor, Kitsap, and Thurston. Three of the four counties in the Puget Sound region had YOY improvement, led by Kitsap County with a jump of 29.3%. The volume of new listings in King County dropped about 5.4% from a year ago. System-wide there was a 3.2% gain in new listings versus twelve months ago.

Prices continue to climb by double digits in all but a few counties. Across all areas, prices for closed sales of single-family homes and condominiums (combined) jumped 21.4% during July compared to a year ago, rising from $484,995 to $589,000. Last month's median price overall was unchanged from June. The lack of inventory of homes for sale is the driving force behind our price increases and multiple-offer market. Condo prices rose more modestly, at 12.6%, than the rate for single-family homes (22%). In King County, which accounted for nearly six of every 10 condo sales during July, the year-over-year increase was just under 7%. The median-priced condo in King County sold for $460,000, while overall the median sale price was $428,000.

The following chart shows you data for July for single family homes and condos combined:

If you’re considering buying or selling a home, the time to do so is NOW! Give me a call/text/email and let’s talk about how to achieve your real estate goals. (206) 790-0081 or Jamie@JamieFlaxman.com.

All data in this report is from the NWMLS.

Pending Listings

12215 Fremont Ave N, Seattle 98133
I listed this North Seattle home on July 15th, it received multiple offers, and went pending in 4 days. It is expected to close this coming week.



19524 Echo Lake Pl N, #A102, Shoreline 98133
I listed this Shoreline condo on July 13th, it received multiple offers, and went pending in 7 days. It is expected to close this week as well.



2000 W Barrett St., #106, Seattle, WA 98199
I listed this Magnolia condo on July 21st and it went pending on August 10th. It is expected to close in early September.


For more information on any of these properties, please give me a call at (206) 790-0081 or email Jamie@JamieFlaxman.com.

Refer a Friend

As a real estate broker, my business depends heavily on referrals from satisfied clients, friends, vendors, and acquaintances. If you’ve been happy with my services or believe in me, and if you know someone who might benefit from my expertise and experience, I’d appreciate it if you would refer them to me. Can you think of anyone who might be interested in buying or selling a home? You can reach me via phone/text at (206) 790-0081 or email me at Jamie@JamieFlaxman.com.