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Hi, I’m Doron Weisbarth with Weisbarth & Associates. Welcome to my June 2023 Seattle Real Estate Market report. A year ago, I presented data showing just how far beyond the norm home sale prices were during 2021 and the beginning of 2022. I refer to this period of price aberration as the ‘Covid Price Spike’. This month, I’ll show you a similar graph, updated with another year’s worth of data, that is even more telling about what is going on in our Seattle area real estate market. Before I do that, I have to share with you a headline from the Seattle Time from June 5th. Really, Seattle Times? Really? Talk about attention grabbing headlines. This headline makes it sound like the sky is falling, when nothing could be further from the truth! Let’s look at some real data, shall we? The rising graph shows the median sale prices for single family homes (SFH) in King County going all the way back to January 2013. I used ORANGE to represent the portion of the dataset through December 2020, and BLUE to represent the portion of the dataset starting in January 2021 to the present. And by the way, these trends that I’m showing you are true for Snohomish County and Pierce County, and I wouldn’t be surprised if other counties in Washington as well. This next paragraph is a bit technical, so hang in there with me… I added to this graph two straight lines. The DOTTED ORANGE LINE represents the straight-line appreciation calculated using only the portion of the dataset from January 2013 to December 2020, and then extrapolated through May 2023. The DOTTED BLUE LINE represents the straight-line appreciation, calculated using the entire dataset, starting in January 2013, and all the way through May 2023. What these two straight lines represent are the rate at which single family homes appreciated in King County in the last 10 plus year. As you can clearly see, even with the large price increases during the ‘Covid Price Spike’, these two lines are very close to each other. What does all this mean? It means that despite the ‘Covid Price Spike’, the market seems to gravitate back to those straight-line appreciation rates. By the way, if you want to look at all this information and read my report at your pace and leisure, you’ll find all this information in my June newsletter . Incidentally, a similar price spike happened in 2017 and early 2018, although those spikes were not quite as pronounced. Although at the time, almost everyone thought that the end of the world was coming. So this kind of fearmongering is not new business. In the end, in all of these cases, the market eventually corrected itself back to the line. Again, I want to point out that these trends are true for Snohomish and Pierce counties, as other counties as well. So what we’re seeing now is the median home prices rising, although not quite as dramatically as they did last year. All this brings us back to the fundamental truths about real estate, that home prices are determined by two forces: supply and demand ! As long as the supply is low (which it is) and the demand is high (which it also is), then prices will continue to rise. Sometimes they will rise too fast, and then they will drop; sometimes they will be above the line, and sometimes below the lin. But these periods are generally short lived, as the market corrects itself very quickly. So don’t let misleading headlines confuse and scare you. As the old saying goes – numbers don’t lie! The market is very much alive and well. And when you understand the dynamics of all these market forces, you can make better decisions about buying and selling. Now if you know anyone who is considering buying or selling their home this year, please send them this video or refer them to us by phone, text, email or fill out the ‘referral’ form on our website . My team and I will make sure that they get educated on the buying and selling process, the things to do and not do, and, of course, on the market itself, so that they can make the best decisions and maximize their results. There is no cost for any of this and absolutely no obligation. The best way to reach me is by phone at 206-779-9808. Please remember to like, subscribe and follow for more great insights, charts and tips on my monthly vlog , and read our monthly newsletter . I’m Doron Weisbarth with Weisbarth & Associates. See you next month!

Hi, I’m Doron Weisbarth with Weisbarth & Associates. Welcome to my May 2023 Market Update report. The spring real estate rush is on! And so far it’s looking great – especially for sellers, but also for buyers. Despite the crazy weather, it is much closer to a normal spring sale than, perhaps, you have been led to believe. It’s easy these days to get caught up in the media’s narrative about real estate. But they tend to overlook the basic data in search of an attention-grabbing headline. As I had stated in past newsletters and vlogs , a year-over-year analysis, which is, pretty much, the only type of analysis you’ll find in the media, is inherently flawed, if one of the years considered in the analysis is abnormal – that makes sense, right? Well, guess what, the first quarter of last year, 2022, when the market was red-hot and out of control, was super abnormal. So any comparison to that time is going to give you the wrong picture of the real market right now. What makes more sense? Let’s look at the numbers since the beginning of this year, 2023. Here are the numbers for single family homes (SFH) in King County, comparing January 2023 to April 2023: Median sales prices are up 9.3% since January 2023, from $799,900 to $875,000 – nothing gloomy about that for sellers. New listings are up 6.7%. This is a smaller increase than you might expect, as sellers still seem a bit hesitant, and listings are still lower than pre-pandemic. But buyers are out there looking, and homes are selling fast. How fast? I’m glad you asked! The median number of days a home sits on the market for sale until it gets in offer has plummeted over 80%, from 34 days in January down to just 6 days in April. That’s fast! If you want to sell right now, you will likely sell very quickly, and get a good price on top of that! Closed sales nearly doubled from 793 homes in January to 1,443 homes in April, an 82% spike. And pending sales, meaning homes that receive an offer but the sale had not yet closed, are up 48.5% from January 2023 to April 2023. By the way, if you want to look at all this information and read my report at your pace and leisure, you’ll find all this information in my May newsletter . So the spring sale is definitely starting off on the right foot. Median prices, new listings, and closed sales are all decidedly up, and the time it takes to sell is dramatically down. These are classic seller’s market attributes. Next month we’ll have another data set that will be able to tell us if these trends are continuing, and if so, how strongly. In the meantime, make sure you take all the media reports with a HUGE grain of salt. Now, if you or someone you know is looking to sell a home, or buy a home – big decisions, no doubt, please refer them to us so that we can properly educate and guide them, so that they can get the most from their transaction. My team and I offer a free, no-obligation consultation. Which means that we’ll be happy to sit down with anyone who needs help, then combine our wealth of knowledge, experience and knowhow, to put together a plan and strategy for maximizing your results. Please call me directly at 206-779-9808, or send me a message through this site or send me a safe, secure, and confidential message through my website, at Weisbarth.com/refer. Thanks for watching this video. If you find this information useful and helpful, please share it with others. Please remember to like, subscribe and follow for more great insights, charts and tips on my monthly vlog, and read our monthly newsletter . I’m Doron Weisbarth with Weisbarth & Associates. See you next month!

Are you considering buying a house in Seattle? Congratulations on taking this exciting step towards homeownership! However, the home buying process can be overwhelming and confusing, especially if you're first-time homebuyers. To help you navigate this process , we've compiled ten tips that you should keep in mind when buying a house in Seattle. Determine your budget and get pre-approved for a mortgage for first-time homebuyers. Before you start looking at houses, it's essential to determine your budget and get pre-approved for a mortgage. This will give you a clear idea of how much house you can afford and save you time by only looking at houses that fit your budget. A pre-approval also makes you a more attractive buyer to sellers. Research neighborhoods and schools. Seattle is a diverse city with many different neighborhoods, each with its own unique characteristics. Research different neighborhoods and find the one that best fits your lifestyle and needs. Also, consider the quality of schools in the area, even if you don't have children, as good schools can increase the value of your home. Work with a local real estate agent. A local real estate agent can be a valuable resource when buying a house in Seattle. They know the local market and can provide you with insights and advice on neighborhoods, housing trends, and the buying process. Attend open houses and tours. Attending open houses and tours is a great way to get a feel for different neighborhoods and types of homes. It's also an opportunity to ask questions and get more information about the property. Consider the commute. Seattle is known for its traffic, so it's important to consider the commute when buying a house. Think about the distance to your workplace, the traffic patterns, and the public transportation options in the area. Get a home inspection. A home inspection is a crucial step in the home buying process. It can uncover potential problems with the property that may not be visible during a tour or open house. You can then use this information to negotiate with the seller or decide whether the property is right for you. Understand the closing costs. Closing costs are expenses associated with the purchase of a home that are not included in the purchase price. These can include appraisal fees, title fees, and insurance fees. Make sure you understand what these costs are and budget for them accordingly. Know what you're buying. Before you sign on the dotted line, make sure you know what you're buying. This means understanding the property's boundaries, zoning, and any potential easements or restrictions. Consider future resale value. Even if you're not planning to sell your home anytime soon, it's important to consider its future resale value. This means looking at the property's location, condition, and potential for improvement. Be patient. Buying a house in Seattle can be a lengthy and frustrating process, so it's important to be patient. Don't rush into a purchase or settle for a property that doesn't meet your needs. Take your time and wait for the right property to come along. Buying a house in Seattle can be a complicated process, but it's also an exciting one. By following these ten tips, you can make the process smoother and more manageable. Remember to determine your budget, research neighborhoods and schools, work with a local real estate agent, attend open houses and tours, consider the commute, get a home inspection, understand the closing costs, know what you're buying, consider future resale value, and be patient. With these tips in mind, you'll be well on your way to finding your dream home in Seattle .