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Jordan Stupey | Homes by JRS, Blog

Thursday, February 18, 2021   /   by Jordan Stupey

Newsletter - Real-Time Market Update: Where We Are Now February 2020

 
The 2021 real estate market is off to a very brisk start. Historically low interest rates are driving buyer demand. This is coupled with a needed "catch-up" in available homes for sale. In 2020, we saw a stall in new listings during our normally plentiful spring market due to the pandemic. From April to June of 2020, new listings were only a portion of what would have been typical for that time of year. Where it became tricky was in May of 2020 when buyer activity rebounded, and we started to record higher levels of pending sales in 2020 over 2019. This led to the inventory deficit that we currently find ourselves in.

The stats above for King and Snohomish counties highlight the January statistics. In both markets, prices are up year-over-year and well above average appreciation levels. This is due to the phenomenon described above which is a classic case of supply and demand. This has led to months of inventory remaining tight, with mere weeks’ worth of available ho ...

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Thursday, January 28, 2021   /   by Jordan Stupey

Newsletter: Matthew Gardner's Top 10 Things to Look for in 2021 in the Economy and Our Housing Market

 
Last week I had the pleasure of attending Matthew Gardner's 2021 Economic Forecast. Matthew is Windermere's Chief Economist and coveted expert in our region often called upon by the local and national media for his insights on the economy and housing. Windermere has relied upon his forecasts and advice for over 15 years, and we were lucky to appoint him Chief Economist in 2015. He has been a huge asset to Windermere brokers who utilize his knowledge to help educate their clients in order for them to be empowered to make strong decisions.

Here are Matthew's Top 10 Things to Look for in 2021:

#1 THE ECONOMY. Matthew expects the economy to continue to recover from the impact caused by the pandemic. He notes that we have already started to see jobs return, but with the vaccine starting to be administered he predicts additional gains in jobs over the second half of the year as businesses start to re-open at full capacity. In addition to jobs, he shared ...

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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 ...

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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