2017/2018 Market Report – Year End Review & Trends to Watch is Now Available
The latest Market Report, an exclusive publication from Realogics Sotheby’s International Realty, is now available. This comprehensive 62-page report analyzes various topics related to Puget Sound-area real estate: from 2017 sales statistics such as median sales price broken down by county, to trends we can expect to see throughout 2018. While we take a look at some of the highlights of this incredible report below, we urge you to read it in its entirety – it can be found here.
S&P CoreLogic Case-Shiller Index. As we have blogged about extensively in the past, there is no denying that the Puget Sound area real estate market is one of the hottest in the country. The report comprehensively breaks down Seattle’s performance on the home price growth index during every month of 2017. For example, in September of 2017, the Index in Seattle turned negative after a 31-month upside run.
The “Condominium Conundrum.” Another hot topic which the 2017/2018 Market Report takes a look at, is the dire supply of condominium listings available. As prices of condominiums continued to climb, many first-time buyers found themselves priced out of market. According to the report while 74% of condos sold last year in the Seattle area were priced below $750,000, in Downtown a staggering one hundred listings sold at above $1,000,000.
Five Trends to Watch in 2018. In addition, the 2017/2018 Market Report offers a fascinating breakdown of the five Puget Sound area real estate trends to keep in mind in 2018: the comeback of condominiums, rising interest rates, increased tax on foreign investment in British Columbia, ongoing expansion of tech companies in the Puget Sound region and also how the influx of downsizers and empty nesters will affect the local real estate market.
The 2017/2018 Market Report is available here. Do you have questions about the Puget Sound region real estate market? We’d love to talk! Contact us at 206-910-5000 or at firstname.lastname@example.org today!