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Around the Sound
A property’s value is determined by numerous factors, such as square footage, upgrades, its condition, and more. However, one of the biggest aspects that will affect a home’s price isn’t the home at all but where the home is located. Check out our breakdown of how a home’s location can play a role in determining its value.
In a city renowned for its incredible surrounding scenery, ample job opportunities in a variety of industries, vibrant cultural events, and delectable food scene, it’s hard to go wrong with any of Seattle’s desirable neighborhoods. However, a few pockets of the city stand out from the rest as truly special communities. Queen Anne is one of the city’s most iconic “hills” with striking architecture, neighborhood charm and walkability, tree-lined streets, and stunning views of the city skyline, Puget Sound, and Olympic Mountains.
We anticipate positive changes in the year ahead as interest rates are expected to improve, with the Federal Reserve signaling potential rate drops later this year. The end of 2023 witnessed a surge in buyer demand, suggesting a pent-up readiness to make purchases in the new year.
Realogics Sotheby’s International Realty is pleased to present you with our 2024 Forecast Report. In this report, you’ll find curated pieces on our local housing markets, year-over-year comparisons, retrospective reviews, and more all provided by some of the most knowledgeable thought leaders in the region. As mortgage rates decline and the desirability of the region endures, beckoning people worldwide with job opportunities and beautiful natural scenery, demand to own remains high and activity is projected to return. The experts featured in the 2024 report have provided their data-backed predictions on what we can expect in the upcoming year.
Unlock the hidden potential of your property with expert staging. In the dynamic world of real estate, first impressions matter. Our “before and after” transformations of this Seattle home not only highlight the aesthetic appeal but also underscore the tangible impact on your property’s market value.
As the winter winds sweep through Seattle, we invite you to immerse yourself in the warmth of the extraordinary views our high-end properties offer. After the holidays come to a close and winter settles in, we always take a bit of joy in looking ahead to the beauty of the Pacific Northwest through the spring and summer seasons.
Year in Review: The Seattle Real Estate Market in 2023
Rising interest rates were a driver of a slowing real estate market in Seattle for 2023. As expected, the median sales price of $870K and average price per square foot of $536 were both down just under 6 percent compared to 2022. As we look ahead to 2024, we expect to see a similar market ahead, but with increasing spikes of opportunity and optimism.
If you’re considering selling your home in 2024, don’t wait until the summer!
Most Seattle home sellers think summer is the best time to list their home for sale. They would be WRONG—and we have the data to prove it. The main reason why the first quarter of the year is best to maximize your sale? Supply and demand. Since the majority of would-be home sellers target spring and summer for listing their homes, the Puget Sound region always sees a lack of available inventory. But buyer demand only builds during the quiet holiday months just prior. So, the few sellers who get their act together in time to list in January, February, and March enjoy massive turnouts to open houses, multiple offers, and bidding wars.
Selling your home is the end of one chapter and the start of a brand-new one. It’s a monumental step that can often lead to great financial gain and set you up for success in your future real estate transactions. However, it is no small task, and to successfully sell your home you’ll need to prepare yourself with key information, targeted strategies, and forward-thinking to seamlessly traverse the complex real estate market. We’re covering some of the biggest pitfalls you should avoid and how to properly prepare for your selling journey so that you can triumphantly make it to the finish line—i.e. a lucrative closing.
Selling your home can signal the end of one chapter and the beginning of another—it’s an exciting life change that can be incredibly profitable. You likely gathered some helpful real estate knowledge when you purchased your home, but now that you’re on the other side of the transaction, there are important tips and considerations to have in your back pocket as you embark on your home-selling journey. Read on for a breakdown designed to empower you with helpful knowledge as you take the first step toward a successful sale.
Making your first home purchase can feel overwhelming for a myriad of reasons, but one of the most simple and reoccurring questions that will likely pop into your head will be: “What is everyone talking about?” The real estate industry is teeming with insider jargon and terms that you likely will not encounter anywhere else. So, let’s break down some of these terms so that when you do run across them during your home-buying journey, you can feel like an informed, seasoned pro.
When listing your home, it’s important to take strategic steps to make it as appealing as possible to buyers. As buyers view photos and videos of your home and eventually tour it in person, they’re looking to be able to envision themselves in the home. Staging your home, which involves rearranging furniture—or even temporarily decorating your home in borrowed furniture and décor—removing personal effects, and arranging décor, such as plants and artwork, is so that your home attracts the widest buyer pool and fetches the highest price possible.
Exploring Washington’s Wine Country - Renowned both locally and internationally, Washington state is the second largest wine-producing state in the U.S., with the number of wineries rapidly increasing in the past decade. Not only do the scenic vineyards create tourism opportunities and generate revenue, but they also offer residents the perfect excuse for a nearby getaway with stunning surrounding scenery, quality wine, and the opportunity to support some of our finest local businesses. Currently, Washington boasts 20 American Viticultural Areas, or AVAs, which are federally recognized designated grape-growing areas.
On Wednesday, 300 real estate professionals gathered at the Seattle Design Center to talk about the future of the industry in the region. By looking ahead at the next five years, developers, brokers, economists, and civic and business leaders shared insights on how the city is evolving, and what professionals can do to help their clients achieve their real estate goals, whether their primary motivations are living or investing.
Whether you live in Seattle or any of the surrounding metro cities, you know that an abundance of water surrounds you. But you might not be aware of the many water sports and places to enjoy them right here in our backyard. The Puget Sound alone is 1,020 cubic miles of surface area to explore, leaving you with more than enough space to try your hand at the many water-related activities locals enjoy during the dry season ( or wet season if you're brave). Boating, water skiing, windsurfing, jet-skiing, kayaking, and swimming are just some of the many activities to experience.
Being positioned along the Pudget Sound offers sweeping benefits with access to the coastline, extensive trails, and mountains, all waiting for you to explore.
