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Homes by JRS, Blog

Monday, January 18, 2021   /   by Jordan Stupey

South Snohomish County Quarterly Market Trends – Q4 2020

 


The 2020 real estate market was a bright spot in the economy and the fourth quarter finished strong, with the median price up 12% complete year-over-year. Interest rates started the year just over 3.5% and ended the year under 3%! The long-term average rate is 7.9%, putting into perspective the massive advantage for homebuyers which has created feverish demand for available homes. Even though new listings were down by 6% in 2020, low interest rates helped drive a 3% increase in closed sales.


Pandemic-driven moves were spurred by folks working from home, taking early retirement, and in some cases responding to job loss. Remote working eliminated the need to have a home close to work which encouraged people to flee to the suburbs. Eliminating the commute and the desire for larger spaces with outdoor enjoyment quickly moved to the top of peoples' wish lists. The last 8 years of positive price growth has led to formidable seller equity, enabling early retirement for some a ...

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Monday, January 18, 2021   /   by Jordan Stupey

North King County Quarterly Market Trends – Q4 2020

 


The 2020 real estate market was a bright spot in the economy and the fourth quarter finished strong, with the median price up 7% complete year-over-year. Interest rates started the year just over 3.5% and ended the year under 3%! The long-term average rate is 7.9%, putting into perspective the massive advantage for homebuyers which has created feverish demand for available homes. Even though new listings remained even year-over-year, low interest rates helped drive a 7% increase in closed sales in 2020.


Pandemic-driven moves were spurred by folks working from home, taking early retirement, and in some cases responding to job loss. Remote working eliminated the need to have a home close to work which encouraged people to flee to the suburbs. Eliminating the commute and the desire for larger spaces with outdoor enjoyment quickly moved to the top of peoples' wish lists. The last 8 years of positive price growth has led to formidable seller equity, enabling early retiremen ...

Read More

Monday, January 18, 2021   /   by Jordan Stupey

Eastside Quarterly Market Trends – Q4 2020

 


The 2020 real estate market was a bright spot in the economy and the fourth quarter finished strong, with the median price up 10% complete year-over-year. Interest rates started the year just over 3.5% and ended the year under 3%! The long-term average rate is 7.9%, putting into perspective the massive advantage for homebuyers which has created feverish demand for available homes. Even though new listings were down by 6% in 2020, low interest rates helped drive a 3% increase in closed sales.


Pandemic-driven moves were spurred by folks working from home, taking early retirement, and in some cases responding to job loss. Remote working eliminated the need to have a home close to work which encouraged people to flee to the suburbs. Eliminating the commute and the desire for larger spaces with outdoor enjoyment quickly moved to the top of peoples' wish lists. The last 8 years of positive price growth has led to formidable seller equity, enabling early retirement for some a ...

Read More

Monday, January 18, 2021   /   by Jordan Stupey

Seattle Metro Quarterly Market Trends – Q4 2020

 


The 2020 real estate market was a bright spot in the economy and the fourth quarter finished strong, with the median price up 6% complete year-over-year. Interest rates started the year just over 3.5% and ended the year under 3%! The long-term average rate is 7.9%, putting into perspective the massive advantage for homebuyers which has created feverish demand for available homes. Even though new listings were up 8% in 2020, low interest rates helped drive a 12% increase in closed sales.


Pandemic-driven moves were spurred by folks working from home, taking early retirement, and in some cases responding to job loss. Remote working eliminated the need to have a home close to work which encouraged people to flee to the suburbs. Eliminating the commute and the desire for larger spaces with outdoor enjoyment quickly moved to the top of peoples' wish lists. The last 8 years of positive price growth has led to formidable seller equity, enabling early retirement for some and/or ...

Read More

Monday, January 18, 2021   /   by Jordan Stupey

North Snohomish County Quarterly Market Trends – Q4 2020

 


The 2020 real estate market was a bright spot in the economy and the fourth quarter finished strong, with the median price up 10% complete year-over-year. Interest rates started the year just over 3.5% and ended the year under 3%! The long-term average rate is 7.9%, putting into perspective the massive advantage for homebuyers which has created feverish demand for available homes. Even though new listings remained even year-over-year, low interest rates helped drive an 8% increase in closed sales in 2020.


Pandemic-driven moves were spurred by folks working from home, taking early retirement, and in some cases responding to job loss. Remote working eliminated the need to have a home close to work which encouraged people to flee to the suburbs. Eliminating the commute and the desire for larger spaces with outdoor enjoyment quickly moved to the top of peoples' wish lists. The last 8 years of positive price growth has led to formidable seller equity, enabling early retirem ...

Read More