Written by William Hillis, Research Editor, RSIR
Upon last month’s release of the CoreLogic Case Shiller Home Price Indices for August 2017, Realogics Sotheby’s International Realty (RSIR) predicted,
“Should the trend since April continue on the back side of the peak home-buying season, it is possible that Seattle’s monthly home price trend could actually turn negative.”
This in fact is exactly what happened, with the Seattle index slipping by 0.28 percent monthly in September. That is not a steep slide, but to put it into context, the Seattle index has been positive for 31 consecutive months. Furthermore, Seattle home prices continue to lead the nation on a year-over-year basis, now for 13 months straight. As reported in the S&P Dow Jones press release, “Seattle, Las Vegas, and San Diego reported the highest year-over-year gains among the 20 cities. In September, Seattle led the way with a 12.9 percent year-over-year price increase, followed by Las Vegas with a 9.0 percent increase, and San Diego with an 8.2 percent increase.”
Written by William Hillis, Research Editor & Broker, RSIR
Monthly price growth has been slowing, but not among Seattle condos
We might be seeing the equivalent of an end zone dance for Puget Sound home prices. Yet according to the August results of the CoreLogic Case Shiller index, continued slackening in the monthly rate of growth is far from cutting Seattle’s year-long lead nationwide, and Seattle condominium prices have sustained their upward momentum.
William Hillis, Broker & Research Editor at Realogics Sotheby’s International Realty breaks down what this means for the future of Seattle and its surroundings.
Perhaps it’s living together in a place of such abundant beauty and economic opportunity that brings out so many competing ideas about what our city and the region should look like, how people should live and commute, and what powers government should exert. Together with ever-greater diversity, attitudes on these matters in Seattle and the Puget Sound are increasingly in conflict.
Realogics Sotheby’s International Realty broker Brian Hopper recently attended Inman Luxury Connect, and he shares his key takeaways in the following blog post:
Last week I attended Inman Luxury Connect 2017 held at the beautiful and iconic Beverly Hills Hotel in California. The timing was perfect as a bunch of rain was headed to Seattle on the morning we flew out. I woke up early and pumped to speak at the event: it was finally here! Follow along below, where I summarize my notes so you can take in the information and insights from the receptions.
Written by William Hillis
After piling up serial outsized monthly gains, the CoreLogic Case-Shiller home price index for Seattle showed signs of fatigue in July, settling down to a “mere” 0.65 percent monthly rate of growth. The region’s index remains up a hefty 13.5 percent year-over-year, but the ascent had been slowing since April on a monthly basis. It is too early to judge whether this signals a turning point, or merely a brief chance for hesitant buyers to get aboard the Seattle market’s fast-moving train.
Written by Brian Hopper
The table was set for over 200 guests on a gorgeous summer evening on the shores of Lake Washington as Realogics Sotheby’s International Realty (RSIR) brokers Brian Hopper, Val Burmester and Kemper Dougan attended the second annual Food Lifeline Farm to Table Dinner. One of the biggest events of the summer, the fundraising event hosted by The ICON Foundation was unforgettable as guests celebrated the community and local farm fresh produce with a five-course menu created by Kirkland’s James Beard Award-winning Chef Jason Wilson [Lake House] and an all-star chef lineup including Roy Breiman, Chris Weber [Herbfarm], Frank Rog [Woodmark], Jamie Casady and Jordan Cooper [DERU and Little Brother].
Written by William Hillis, Research Editor with RSIR
Golf, the world’s foremost stick-and-ball game, will forever be associated with Scotland. Yet the Puget Sound offers a strong assortment of world-leading courses playable year-round in the region’s mild climate amidst scenic topography. A fjord system of valleys carved by glaciers, the bays and inlets of Puget Sound are not unlike the firths of Scotland. And more than any other popular sport, golf is a game in which—in every sense—the landscape comes into play.
One of my brokers recently approached me with the desire to step up his game in order to increase his price point and sales volume. I found myself in a familiar moment, as I had not long ago been reflecting on this very subject. So I responded with what was on the top of my mind: “Don’t become that type of broker.”
My friend looked momentarily puzzled but I could tell he quickly understood what I meant. We then entered into a discussion about what qualities it takes to become a top producing broker and began looking at the characteristics of some major players within our industry.
We work in a very emotional and fluid business unlike any other, where we are constantly absorbing stress and emotion for our clients. It permeates into our personal lives and we must have thick skin in order to rebound quickly.
I’ve personally always felt an enormous sense of responsibility and pride in the level of service I provide to my clients. The best advice I was given as a brand new broker was, “do what is in the best interest of your client and the money will follow.” This tried and true advice has always served me well.
Over the weekend, Realogics Sotheby’s International Realty (RSIR) broker Austin Schneider joined Darol Tuttle on the BoomX Radio Show, and shares his experience in a guest post below!
This past weekend, I was honored to join good friend Darol Tuttle, the Northwest’s premiere asset protection attorney on his radio show the “BoomX Show!” We talked briefly about downsizing trends, aging at home, what’s going on with the market in Seattle, if it’s a good time to sell, and the steps to take to ensure top dollar if you do decide to sell!
On June 7th, Realogics Sotheby’s International Realty broker Chris Doucet was featured in an article in Capitol Hill Times, discussing the latest trends in one of Seattle’s oldest neighborhoods with the latest market data compiled with the help of RSIR Research Editor and Publisher, William Hillis. As the article reads, “Capitol Hill continues to cement its reputation as Seattle’s premier market for potential home buyers. Prospective residents are vying for a limited supply of properties, which is driving prices up in highly competitive bidding. As is the case in the rest of Central Seattle, homes are selling within about a week of hitting the market.” Read the rest of the editorial feature below.