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Learn about local real estate and housing market trends from The Cascade Team Real Estate.

Found 3204 entries about Real Estate News.

Check out Jennifer's Cascade Team Profile!

OUR LOCAL REAL ESTATE TEAM

Cascade Team Real Estate agents are proactive in serving their customers, studying the market and touring homes, so they can provide the most accurate housing market data for their clients. This helps you better understand the competitive environment, pricing strategies and provides an edge in the negotiation process.  Our goal is to always meet and exceed your expectations.  We look forward to the opportunity of working with you on your next real estate transaction.

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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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Check out Alice's Cascade Team Profile!

OUR LOCAL REAL ESTATE TEAM

Cascade Team Real Estate agents are proactive in serving their customers, studying the market and touring homes, so they can provide the most accurate housing market data for their clients. This helps you better understand the competitive environment, pricing strategies and provides an edge in the negotiation process.  Our goal is to always meet and exceed your expectations.  We look forward to the opportunity of working with you on your next real estate transaction.

Download The Cascade Team Mobile App for Free!

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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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