Stanwood & Camano Island Market Activity Month Ended July 31st

 


Posted on August 21, 2020 at 3:02 am
Beth A. Newton | Posted in Living, Real Estate | Tagged , , ,

NWMLS Published Market Update – Month of July

 


Posted on August 8, 2020 at 6:15 am
Beth A. Newton | Posted in Living, Real Estate | Tagged , , ,

Western Washington Real Estate Gardner Report

 


Posted on July 30, 2020 at 1:46 am
Beth A. Newton | Posted in Living, Real Estate | Tagged , , ,

Stanwood & Camano Island Market Activity Month Ended June 30th, 2020

 

 


Posted on July 22, 2020 at 5:23 am
Beth A. Newton | Posted in Living, Real Estate | Tagged , , ,

Stanwood & Camano Island Market Activity

Insight to the local market – things are still moving quickly for both buyers and sellers.  I am here to safely help you buy a home, or sell your current home – or both!

If you would like to chat more about what these market stats mean for you, or receive a comparative market analysis on your home now,  please reach out!


Posted on June 19, 2020 at 6:17 pm
Beth A. Newton | Posted in Living, Real Estate | Tagged , , , ,

Your Great Northwest Glass Quest Clue Is Here

 

Glassquesters your clue ball can be found where “Old Glory” flies high! I will have a ball hidden at the North, Middle and South end of the Island where you find the Red, White and Blue. You will also be able to see the beauty of Camano Island and why you may want to move here!

For the official rules of The Great Northwest Glass Quest visit the website https://thegreatnwglassquest.com or stop into either Windermere office and pick up an Official Glass Quest booklet.

Good Luck Questers!


Posted on February 15, 2020 at 1:06 am
Beth A. Newton | Posted in Living, Real Estate, Uncategorized | Tagged , , , , ,

Western Washington Gardner Report

 

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist, Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.

 

ECONOMIC OVERVIEW

Employment in Washington State continues to soften; it is currently at an annual growth rate of 1.7%. I believe that is a temporary slowdown and we will see the pace of employment growth improve as we move further into the new year. It’s clear that businesses are continuing to feel the effects of the trade war with China and this is impacting hiring practices. This is, of course, in addition to the issues that Boeing currently faces regarding the 737 MAX.

In the fourth quarter of 2019 the state unemployment rate was 4.4%, marginally lower than the 4.5% level of a year ago. My most recent economic forecast suggests that statewide job growth in 2020 will rise 2.2%, with a total of 76,300 new jobs created.

 

HOME SALES

  • There were 18,322 home sales registered during the final quarter of 2019, representing an impressive increase of 4.7% from the same period in 2018.
  • Readers may remember that listing activity spiked in the summer of 2018 but could not be sustained, with the average number of listings continuing to fall. Year-over-year, the number of homes for sale in Western Washington dropped 31.7%.
  • Compared to the fourth quarter of 2018, sales rose in nine counties and dropped in six. The greatest growth was in Whatcom County. San Juan County had significant declines, but this is a very small market which makes it prone to extreme swings.
  • Pending home sales — a barometer for future closings — dropped 31% between the third and fourth quarters of 2019, suggesting that we may well see a dip in the number of closed sales in the first quarter of 2020.

 

 

HOME PRICES

  • Home price growth in Western Washington spiked during fourth quarter, with average prices 8.3% higher than a year ago. The average sale price in Western Washington was $526,564, 0.7% higher than in the third quarter of 2019.
  • It’s worth noting that above-average price growth is happening in markets some distance from the primary job centers. I strongly feel this is due to affordability issues, which are forcing buyers farther out.
  • Compared to the same period a year ago, price growth was strongest in San Juan County, where home prices were up 41.7%. Six additional counties also saw double-digit price increases.
  • Home prices were higher in every county contained in this report. I expect this trend to continue in 2020, but we may see a softening in the pace of growth in some of the more expensive urban areas.

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home dropped four days compared to the third quarter of 2019.
  • For the second quarter in a row, Thurston County was the tightest market in Western Washington, with homes taking an average of 29 days to sell. In nine counties, the length of time it took to sell a home dropped compared to the same period a year ago. Market time rose in four counties and two were unchanged.
  • Across the entire region, it took an average of 47 days to sell a home in the fourth quarter. This was up nine days over the third quarter of this year.
  • Market time remains below the long-term average across the region, a trend that will likely continue until we see more inventory come to market — possibly as we move through the spring.

 

 

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

The housing market ended the year on a high note, with transactions and prices picking up steam. I believe the uncertainty of 2018 (when we saw significant inventory enter the market) has passed and home buyers are back in the market. Unfortunately, buyers’ desire for more inventory is not being met and I do not see any significant increase in listing activity on the horizon. As such, I have moved the needle more in favor of home sellers.

 

ABOUT MATTHEW GARDNER

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.


Posted on January 22, 2020 at 5:43 pm
Beth A. Newton | Posted in Living, Real Estate, Uncategorized | Tagged , , , , ,

Western Washington Real Estate Market Update


The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere Agent.

 

ECONOMIC OVERVIEW
The Washington State economy continues to add jobs at an above-average rate, though the pace of growth is starting to slow as the business cycle matures. Over the past 12 months, the state added 96,600 new jobs, representing an annual growth rate of 2.9% — well above the national rate of 1.7%. Private sector employment gains continue to be quite strong, increasing at an annual rate of 3.6%. Public sector employment was down 0.3%. The strongest growth sectors were Real Estate Brokerage and Leasing (+11.4%), Employment Services (+10.3%), and Residential Construction (+10.2%). During fourth quarter, the state’s unemployment rate was 4.3%, down from 4.7% a year ago.

My latest economic forecast suggests that statewide job growth in 2019 will still be positive but is expected to slow. We should see an additional 83,480 new jobs, which would be a year-over-year increase of 2.4%.

 

 

HOME SALES ACTIVITY

  • There were 17,353 home sales during the fourth quarter of 2018. Year-over-year sales growth started to slow in the third quarter and this trend continued through the end of the year. Sales were down 16% compared to the fourth quarter of 2017.​
  • The slowdown in home sales was mainly a function of increasing listing activity, which was up 38.8% compared to the fourth quarter of 2017 (continuing a trend that started earlier in the year). Almost all of the increases in listings were in King and Snohomish Counties.
  • There were more modest increases in Pierce, Thurston, Kitsap, Skagit, and Island Counties. Listing activity was down across the balance of the region.
  • Only two counties—Mason and Lewis—saw sales rise compared to the fourth quarter of 2017, with the balance of the region seeing lower levels of sales activity.​
  • We saw the traditional drop in listings in the fourth quarter compared to the third quarter, but I fully anticipate that we will see another jump in listings when the spring market hits. The big question will be to what degree listings will rise.

 

 

HOME PRICES

  • With greater choice, home price growth in Western Washington continued to slow in fourth quarter, with a year-over-year increase of 5% to $486,667. Notably, prices were down 3.3% compared to the third quarter of 2018.
  • Home prices, although higher than a year ago, continue to slow. As mentioned earlier, we have seen significant increases in inventory and this will slow down price gains. I maintain my belief that this is a good thing, as the pace at which home prices were rising was unsustainable.
  • When compared to the same period a year ago, price growth was strongest in Skagit County, where home prices were up 13.7%. Three other counties experienced double-digit price increases.
  • Price growth has been moderating for the past two quarters and I believe that we have reached a price ceiling in many markets. I would not be surprised to see further drops in prices across the region in the first half of 2019, but they should start to resume their upward trend in the second half of the year.

 

 

DAYS ON MARKET
The average number of days it took to sell a home dropped three days compared to the same quarter of 2017.
Thurston County joined King County as the tightest markets in Western Washington, with homes taking an average of 35 days to sell. There were eight counties that saw the length of time it took to sell a home drop compared to the same period a year ago. Market time rose in five counties and was unchanged in two.
Across the entire region, it took an average of 51 days to sell a home in the fourth quarter of 2018. This is down from 54 days in the fourth quarter of 2017 but up by 12 days when compared to the third quarter of 2018.
I suggested in the third quarter Gardner Report that we should be prepared for days on market to increase, and that has proven to be accurate. I expect this trend will continue, but this is typical of a regional market that is moving back to becoming balanced.

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors. I am continuing to move the needle toward buyers as price growth moderates and listing inventory continues to rise.
2019 will be the year that we get closer to having a more balanced housing market. Buyer and seller psychology will continue to be significant factors as home sellers remain optimistic about the value of their home, while buyers feel significantly less pressure to buy. Look for the first half of 2019 to be fairly slow as buyers sit on the sidelines waiting for price stability, but then I do expect to see a more buoyant second half of the year.

 

 

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the Unversity of Washington where he also lectures in real estate economics.

 

 

Link to original article here.


Posted on February 4, 2019 at 5:34 am
Beth A. Newton | Posted in Real Estate |

News from the Club October 3, 2011

REALLY??!!  October??!!  Yikes!!  To me this all means the end of summer and start of the real Fall/Winter Holiday season.  Although one of my most favorite times of the year, the slow and moderate Spring/Summer we had makes the transition a little less than historically exciting.  Not the summer has been lazy by any means but now it is time to pick up the pace with ourselves and our families and gear up to get involved with all the exciting events and year-end.  We have already noticed the change in scenery; the maple leaves falling, the chill in the night air and the gorgeous, cool sunrises over the Cascades.  The fall colors of lemon, mustard, pumpkin, burnt sienna, hunter, oak and mahogany are all my favorites!  Of course, first we have Halloween this month with decorating, baking, making costumes and the culmination of the “Big Night”!!  The children’s treasure trove usually last until they can restock at Christmas!  The smells of those outdoors fires, fall stews, hot ovens, pumpkin pie spice, apple cider, cobblers and wood burning fireplaces bring childhood memories as well as more recent.  Then after Halloween, gratefully, Thanksgiving has not become as commercial as the previous and post holidays to it, so it brings a family togetherness and a time to relax, enjoy, prepare and actually plan the big doings of December.  I love Thanksgiving for that very reason; it has stayed less retail and I can enjoy cozy weekends watching movies, playing board games and just spending time with my family!  No sooner do you get that Turkey out of the oven it seems as if overnight, “tis the season,” so to speak with the countdown to Christmas!!  With kids it’s kind of hard not to get caught up in it all; more decorating, baking, parties, shopping, friends and family!!  Christmas Day and the week following is the last breather prior to another New Year!  Hopefully it will be a good year to come!  As for the Real Estate market in Stanwood and Camano Island as well as the rest of the country, this all means the start of our fourth and final quarter for the year.  For our own sakes and the down economy, we need to continue and increase our Pending sales and finish out the sales year strong.  We need to set up and prepare those coming listings for the start of the New Year as well!  We have been on an upward trend in the third quarter and if we can continue strong, we should have a year-end result better than that of 2010!   Continued low-interest rates and low home prices give hope to the finish of a great year!


Posted on October 3, 2011 at 2:51 am
Beth A. Newton | Posted in Real Estate | Tagged , , , , , , , , , , , , , , , , , ,