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Found 1027 entries about Market Conditions.

A Record Setting Year For Denver Real Estate and Home Sales

2020 was a record-setting year. Brokers wrote more contracts on listings, sending them to the pending status, and more homes closed than any year on record.  The number of new listings that hit the market did not keep pace with demand, which made inventory a challenge throughout the year. Highlights for January – December 2020 Strong demand kept prices high with median and average closed prices reaching-time highs. Half of all homes closed sold $450,000 or more.  Contracts were written on homes quickly in 2020. The median number of days a home was available for sale in the MLS was 7, which means half of homes for sale were off the market in a week or less.

The number of listings that closed

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This is the real estate climate we're currently living in—and it has everything to do with the COVID-19 pandemic.

The COVID-19 pandemic has had a major impact on the real estate industry, and as a result, many parts of the country are experiencing what is known as a seller's market. The pandemic caused everyone to reevaluate where they're being quarantined.  Take the simple fact that a home is no longer a home, the home is now a workplace as well. It's also a school. And that really has gotten a lot of people in a position where they've decided to pull the trigger and change the condition that they live in.

"Simply put, a seller's market is a marketplace in which sellers have a competitive advantage due to pent-up buyer demand and low home

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The 2021 Real Estate market is off to fiery start! Inventory is low and homes that hit the market are selling for WAY over list price! Yesterday, I had my 1st sale of the year and as I reflect on last year with 44 closings, I know we are going to see a lot more inventory in the coming months. If you are thinking of buying or selling I would love to help! With 1% listing fees, I save my sellers a lot of $$ and I LOVE working with buyers as well. I am thankful for my clients in the past, present and future! Enjoy the weekend and Cheers to a great year ahead! Warmly, Hailey

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Sammamish was one of the hottest markets on the Eastside for 2020. Overall, there were substantial increases in price coupled with declining days on market and bidding wars often driving homes sales well above asking price.

Several neighborhoods such as Trossachs and Klahanie saw record prices for homes sold and also record increases in price per sq foot.

Here is a quick breakdown for Trossachs, Beaver Lake, Aldarra, and Klahanie.

So, What’s in store for 2021?

  •        All indications are continued price growth estimated to be at least 10% or higher.
  •        Bidding Wars and multiple offers on homes.
  •        Low inventory
  •        Low but slightly increasing interest rates

Take a look at the stats below for a full breakdown.

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Klahanie was one of the hottest markets on the Eastside for 2020. Overall, there were substantial increases in price coupled with declining days on market and bidding wars often driving homes sales well above asking price.

One example detailed below listed at $1.1 million and sold for $1,220,005 in only 6 Days on Market which equates to 110.91% of Asking Price!

So, What’s in store for 2021?

  •        All indications are continued price growth estimated to be at least 10% or higher.
  •        Bidding Wars and multiple offers on homes.
  •        Low inventory
  •        Low but slightly increasing interest rates

Take a look at the stats below for a full breakdown. Please remember that each home is different as are the motivations of each

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2020 was a unique one for real estate. Though the pandemic slowed the majority of the economy down, the housing sector boomed.

In fact, it saw almost unprecedented success. Buyer demand soared (up 40% at one point), bidding wars were a constant presence, and mortgage rates bottomed out — hitting a new record low more than a dozen times over, according to Freddie Mac.

The market even bucked the traditional fall slowdown, with unseasonably strong demand well into the cooler months. All this, despite an ever-worsening pandemic.

But now that 2020 is (finally) at its end. Will it be the end of the current housing boom as well?

Probably not!

According to experts, we can expect more low rates, still-rising prices, and a continued exodus to the

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KIRKLAND, Washington (January 6, 2021) – “Insatiable buyer demand” is keeping inventory scarce as house hunters try to outmaneuver and outbid each other, according to reports from Northwest Multiple Listing Service (NWMLS). Its statistical summary for December showed strong activity throughout the holiday season with double-digit increases in new listings, pending sales, closed sales, and prices.

Northwest MLS brokers added 5,260 new listings to inventory during December, a hefty 39.3% increase over the same month a year ago. Last month’s additions fell short of meeting demand as members reported 6,883 pending sales (mutually accepted offers). That number surpassed the year-ago volume by 940 transactions for an increase of 15.8%.

Pending sales

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Brokers/Agents working at The Cascade Team are asked to NOT include any Buyer letters or allow them to be received with offers on properties they represent:

The Fair Housing Act provides, in part, that sellers cannot refuse to sell a house based on race, religion, color, national origin, sex, family status or disability. Furthermore, the law further protects homebuyers from discrimination based on age, sexual orientation, marital status, veteran status, ancestry or source of income.

Homebuyers ask all the time about buyer letters. You know the letters I mean: the ones where the buyers write about how much they love the house and why they or their family or their kids will love living there and why the sellers should pick their offer.

That

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2020 was a unique one for real estate. Though the pandemic slowed the majority of the economy down, the housing sector boomed.

In fact, it saw almost unprecedented success. Buyer demand soared (up 40% at one point), bidding wars were a constant presence, and mortgage rates bottomed out — hitting a new record low more than a dozen times over, according to Freddie Mac.

The market even bucked the traditional fall slowdown, with unseasonably strong demand well into the cooler months. All this, despite an ever-worsening pandemic.

But now that 2020 is (finally) at its end. Will it be the end of the current housing boom as well?

Probably not!

According to experts, we can expect more low rates, still-rising prices, and a continued exodus to the

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‘Twas the night before Christmas, and all through the house
Not a creature was stirring, not even a mouse

My signs were all out and brochure boxes loaded
The ad copy in and the lock boxes coded

I just wrote an offer with that one perfect buyer
eeghads its so low…they say they won’t go any higher

So I call up my seller with the not so good news
And they agree to meet with me…what have they got to lose?

So we sit at the table and I do what I do best
Crunch numbers, talk deadlines and give it a rest

So the sellers agree and get ready to sign
And then they exclaim… “We’ve got an equity line!”

More crunching and digging to find extra money
The sellers are smiling…but this really isn’t funny

Three months on the market with nary a

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