Changing Market Conditions!

The market has changed in Seattle. We're not number one any more and for most of us, that's just fine. The slowdown brings us back to conditions that are closer to a balanced market although we're not there yet. A normal balanced market includes 6 months inventory and currently we have 2 1/2 months. That's far better the what we've had for several years. The median sales price is up but NWMLS is showing that we have 23% more listings than this time last year. This trend is predicted to continue. I'll keep an eye on things and keep you updated. Stay tuned.

Newcomers in King County

According to a recent article in the Seattle Times, the population in King County now compromises more out of town residents than native Washingtonians. Am I surprised? Well no I don't think so. We have seen a large influx of people moving to Seattle and the outlaying areas because they have landed jobs in the tech industry. I recently read that tech jobs here pay approximately $10 more per hour than in other areas. While this has been great for the local economy it has also had an impact on those of us who live here. The biggest impact has been in affordable housing. People are moving farther out into the suburbs and even leaving the city and the state. Although this movement has not been going on long enough to call it a trend, we do expect that it will continue as Seattle continues to grow and the tech industry remains strong.