The Gardner Report will tell you what’s happening in WWA real estate and a forecast for 2019.
The other graphs show you how the Seattle real estate market is trending for Q1 of 2019.
Some of the hotter neighborhoods are seeing over +15% price appreciation Feb to Mar 2019.
But most economist don’t feel we’re returning to the craziness of the last few years.
A much more manageable growth rate moving forward for Seattle, that’s nice for everyone, buyers and sellers.
Here are a few thoughts about melting snow, possible water intrusion and houses from Don McFeron at Scout Building Inspections:
“Gutters and downspouts full of snow and ice can back up if it starts raining before the snow and ice melt.
Water backing up in the gutters can be a real problem if you have a house without much of a roof overhang, because instead of wetting the soffits, it can get into the walls.
Roof downspout in-ground drains can ice up, and then the water coming down the downspouts can spill out next to the foundation. If the house has a finished basement, the water next to the house could get into wall cavities through the footing-to-foundation joint, and any through-wall penetrations or cracks. Make sure that water coming out of the downspouts runs down into functioning in-ground drains, or route the water on the surface far enough away from the foundation that the water cannot run down next to it and get into the basement or the crawl space.
Snow in a basement window well can get up against the windows and window trim. When the snow melts it could get in through small gaps between the windows and trim.
Water from melting snow that has piled up against a door can get in through weep holes and weather stripping as it melts.
When you shovel a walkway, be careful to not pile the snow up against the side of the house.
Snow on a roof can get up under the flashing around skylights, chimneys, plumbing vents, attic ridge vents, etc. Pretty much all of the flashings and roof boots are designed to protect against water that is flowing down hill. Blowing snow can get under the edges of flashings or pack in around them and then drip down behind them as it melts. Usually the amount of water would not be noticeable, but in a situation where there are several inches of snow followed by a quick melt and a lot of rain, it could be a problem.
I cleared the snow off of my roof top deck tonight because the snow was deep enough that when it melted it could have gotten up under the siding, through gaps between the door to the roof or through perimeter flashings and into the house. The through-wall drains were packed with snow so that water may not have been able to drain through them.
My office, Windermere Wedgwood, publishes statistics for the transactions that we represent each month.
These statistics dive deeper than the basic info you get from online sources.
The pack below shows transaction details like type of financing, cash offers, # of offers and the one I find most interesting this month, median sold price.
The median sold price for the 16 transactions completed by my office in December 2018 was $839k vs. $759k from Dec. 2017 or +10.5%
Even with the Seattle Times headlines about Seattle’s rapid decrease in prices, the numbers don’t lie, +10% vs last year!
So much for the HQ2/3 impact on the Seattle employment picture.
This workforce report is pulled from LinkedIn data but a good indicator of what’s happening in the broader market.
While Amazon might be slowing down their rate of hiring in Seattle, others are ramping up for 2019 and beyond – Expedia, Facebook and Google to name a few.
Seattle is still a great place to invest your real estate dollar and looks to continue…
What you want to pay attention to in the attached eye chart of a graph is the bottom graph and how every winter (December) for the last 10 years, we see a dramatic slow down in sales.
So yes, the rate of appreciation has slowed in the Seattle area since May 2018.
But, we also see a slow down in transactional sales every winter.
Put them together and it seems more dramatic and remember we had quite a run up of prices over the last 5 years.