‘Dynamic’ housing market enters pre-summer phase

A real estate snapshot from John L. Scott Real Estate.

By Erin Flemming

Special to the Record

Though it may feel like spring has just begun, when looking at the six phases of the housing cycle – New Year kickoff, spring market, pre-summer, summer market, fall market and winter market – April concluded the spring market. Karen Lindsay, a managing broker and branch manager of John L. Scott’s Bellevue-Issaquah office, said April was a bit slower versus the previous month, but the market is still dynamic, with new listings heading into May and June’s Pre-Summer phase.

In the city of Snoqualmie, homes for sale and pended in the month of April were up over 2018 numbers, going up 68.5 percent and 32.1 percent, respectively. While sold homes in April are down from last year, Lindsay said she thinks May will be a good month for home sales. She added that buyers are entering the marketplace with more confidence, and strategic pricing is a must to attract the attention of buyers.

“Pricing a listing at market value is extremely important if a home seller wants to sell in the first three weeks,” Lindsay said. “After three weeks, the chances of obtaining a premium price drop dramatically, as do the chances of receiving multiple offers at once. If priced competitively when it first goes on the market, the home attracts attention and is more likely to have buyers compete to buy it, which will naturally bring up the final selling price.”

Just in time for Earth Day on April 22, the National Association of Realtors released findings from a national survey of its members focused on eco-friendly home features. A majority of those surveyed said clients were interested in energy-efficiency and sustainable housing features. The report also detailed ways sustainability is influencing real estate, from solar panels to commute lengths.

While the Pacific Northwest is known as a particularly “green” area of the country, Lindsay said in the local market, affordability tends to be higher on the priority list for most buyers. However, first-time and millennial home buyers are usually drawn to homes that tend to be considered more eco-friendly.

“Millennials are more conscious of sustainability and tend to gravitate to more contemporary design, which lends itself to more sustainable products and materials like concrete counters or bamboo floors,” said Lindsay. “Larger homes, with more space to heat and grounds to maintain, are not as important these days to first-time homebuyers. A home’s proximity to amenities such as light rail and bus lines, that enable commuting without cars are a draw for younger purchasers.”

For many homeowners, an interest in all things green can extend to front and back yards. Sunny days make for great gardening weather, and carefully planned out landscaping can not only make a home look great, but also potentially increase value for possible buyers. Lindsay said hiring landscaping help or developing a green thumb can pay off when looking to sell.

“I think street appeal is essential if you are planning on selling your home, and a nicely landscaped lawn with well-kept plants and flowers is a big part of that,” Lindsay said. “To show well to buyers, especially in a hopping spring market, a ‘manicured’ look is always more appealing than overgrown or messy.”

More in Business

‘Dynamic’ housing market enters pre-summer phase

A real estate snapshot from John L. Scott Real Estate.

Eastside market heats up as major tech news hits

A real estate snapshot from John L. Scott Real Estate.

Courtesy photo
                                Sweet Treats is the only cookie dough-focused storefront in the region and will eventually operate a food truck.
Sweet Treats feeds a desire for cookie dough

The local vendor and catering service offers safe-to-eat cookie dough on the Eastside.

The Factoria QFC (pictured here) was part of the phase out pilot last November that included five other locations in the area. Currently, the stores only have paper bags and offer reusable bags for purchase at the checkout aisles. Kailan Manandic / staff photo
QFC to stop offering plastic bags in all stores on April 1

The commitment comes early as its parent company, Kroger, pledged to end plastic bag use by 2025.

Nintex acquires EnableSoft in company acquisition

Bellevue-based company is a world leader in workflow automation industry.

Local inventory is up; buyers, sellers prep for spring

By Erin Flemming Special to the Record If you’re looking to purchase… Continue reading

North Bend’s Huxdotter Coffee consturction underway

Huxdotter Coffee is in the midst of construction on an all new cafe and drive-thru.

Stocks stay strong for Smartsheet, Microsoft, T-Mobile

Fortune 500 functionality, Hololens technology, 5G network contribute to growth

Praerit Garg joins Smartsheet as CTO

Bellevue-based company employs 760 people

A comparison of how many life science companies are on the Eastside and in other Washington cities. Kailan Manandic
Life science hits its stride on the Eastside

Life science has strong roots in Washington, contributing economically and scientifically.

Bringing the Virtual Reality experience to Eastside

Virtual Reality (VR) isn’t like regular entertainment, and Portal VR founder Tim… Continue reading

Despite interest rates approach, real estate ticking onward

A real estate snap shot from John L. Scott Real Estate.