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MARKET STATS FROM NOVEMBER HAVE ARRIVED! WITH CHRIS DOUCET | COMPASS
Time to read the December Market Report! The weather is cold outside, but the Seattle market is still heating up! Available inventory in King County continued to drop last month, down 33.47% from November last year. Closed sales in King County are warm, up 11.16% from last year, but Seattle days on the market have increased, up 16.1% from last year. This movement demonstrates that the market is still active, offering excellent opportunities for sellers and buyers to #findtheirplace in the PNW. Exclusive to Compass brokers, #CompassConcierge maximizes the value of your home, making it desirable to ready buyers with zero upfront cost to you!
King County Market Report
Snohomish County Market Report
Pierce County Market Report
Whatcom County Market Report
Skagit County Market Report
Would you like a more detailed report?
(Usually) What Happens In Real Estate Is Meant To Happen
I totally agree with this. I have often told buyers: "You get the home you are meant to have". I think that most seasoned real estate professionals would agree.
Written by Leonard Steinberg - Chief Evangelist
A few years ago I found a gorgeous building site that I'd wanted to purchase to build a dream vacation home. It was perfectly perched close to a wonderful hotel with a restaurant where I envisioned starting my days after a hike in the magnificent natural reserve that abutted it.
At the time I was in the midst of a lawsuit where I was owed a rather substantial amount of money, and I feared taking on the risk of buying raw land was too great. So I decided to 'wait and see', and lo and behold, someone else swooped in and bought this gorgeous piece of paradise while I was snoozing. I was rather devastated. Land in a location like this is rare, and I would never, ever be able to replicate it.
Flash forward about a year later: my lawsuit was settled, and of course, I went back to see what had happened to my dream building site. Sadly, a natural disaster had destroyed the land leaving it un-buildable! I cannot describe the relief I felt knowing that had I owned that land, I would have been dealing with a shattered dream ....and potentially large financial losses too. I hate to say it, but my hesitancy to buy was 'meant to happen.'
I have seen this (somewhat similar) scenario play out many times over the course of my 20-plus years in real estate. Often, the 'one that got away' for a buyer turns out to be a blessing. It is 99% of the time followed (maybe not immediately, but eventually) by a better property. This just recently happened for buyers of mine and even they reminded me of my words when they lost their 'dream home'......the day they found their REAL dream home a few months later.
Here are some interesting stats about home buyers
Written by Leonard Steinberg - Chief Evangelist
Tom Ferry reminded us all that we in real estate are in the TRUST BUSINESS. Pretty much everything we do revolves around trust. And trust is often built from familiarity. I think that is very smart!
Here are some interesting stats about home buyers:
* 63% of home buyers are above the age of 39 years old.
* 21% are above the age of 64 years old.
*Over 94% of all homebuyers speak English as their primary language at home.
* Around 12% of buyers aged 29-53 years old were not born in the USA.
* At least 50% of homebuyers 39 years and older have owned a home prior to buying a new home.
* The largest percentage of homebuyers seeking a smaller home is above the age of 54 years old.
* Only around 2% of homeowners wished they had waited before buying a home.
* 86% of buyers buy existing homes, while 14% buy brand new homes.
* Over 50% of those aged 39 and under want a brand new home to avoid renovation, maintenance, and repairs.
* 38% of all buyers feel the same way.
* 82% of buyers buy a single-family, detached home.
* The average distance between a home purchased and the prior home is 15 miles. Above 64 years old it doubles, swaying averages. Under the age of 53, its under 11 miles.
* 58% of buyers said the neighborhood was their primary choice driver, followed by convenience to job sites, affordability, and convenience to friends and family.
* Just 5% mentioned public transportation.The largest percentage of homebuyers buying a home above $500k were aged between 29-53 years old.
* 68% of homebuyers bought a house 2,500sf or smaller. 18% bought homes larger than 3,000sf.
* 66% of the homes bought were older than 17 years.
* 22% of homebuyers compromised on the price and 20% compromised on the condition. 34% made NO compromises!
* Homebuyers aged 54-72 years old expect to stay in their homes for at least 20 years.
* 86% of buyers rely on an agent for information about their home search and 93% relied on online information.
* The average buyer spent 10 weeks searching and viewed 10 properties.
* The paperwork and understanding the process accounted for 36% of the most difficult buying steps.
* 87% of buyers rated photos as the most useful and valuable website feature.
* At least 60% of buyers were very satisfied with the home buying process.
* 87% of homebuyers used an agent/broker to buy.
* Buyers want the following mostly from agents: help finding the right home, negotiating terms and price.
Market Stats from October have arrived! With Chris Doucet | Compass
Market Stats from October have arrived! Available inventory in King County continues to drop and is down 23.48% from October last year. Closed sales in King County are up 5.31% from last year, but Seattle days on the market are up 30.4% from last year. This movement demonstrates that the market is still active and can offer excellent opportunities for savvy sellers and buyers to #findtheirplace. Consider how #Compassconcierge can help you sell your home to those ready buyers for more, and in less time, by transforming your home with zero upfront costs and no interest. We can also help you quickly realize your next dream home before you sell your current home with #Compassbridgeloans
King County Market Report
Snohomish County Market Report
Pierce County Market Report
Whatcom County Market Report
