Local inventory is up; buyers, sellers prep for spring

By Erin Flemming

Special to the Record

If you’re looking to purchase a home this winter or spring, you’ll likely benefit from the uptick in inventory at all price levels in the Snoqualmie Valley area. Martin Weiss, sales manager of John L. Scott’s Bellevue-Issaquah office, said many buyers in February appreciated the options and less hurried pace in the local market.

In Fall City, Snoqualmie and North Bend, there were 74 homes for sale in January 2019, which is more than double the number of homes for sale in January the year prior. When looking at months of inventory in the same areas in the more affordable and mid-price ranges, January 2019 brought two months, versus 0.8 months the year prior.

Weiss said the numbers are encouraging and a move in the right direction toward a balanced market, though multiple offer situations are still a possibility for well-priced homes in certain areas.

“Overall, there is more inventory at all price levels leaving more options for buyers,” said Weiss. “We are still seeing multiple offers in desirable neighborhoods on homes that are priced appropriately for their condition and are also presented well to the market.”

The Snoqualmie Valley was hit with multiple inches of snow in February, which led to school and business closures affecting many residents. Though snow did slow things down a bit, Weiss said the local real estate market wasn’t brought to a standstill due to the weather.

“Brokers in our office adjusted well,” Weiss said. “We didn’t see a drop in pending transactions during the snow. Though open house traffic was down, our brokers noted that serious buyers were braving the elements and making offers. The biggest impact to the local market was a lull in new listings coming on, as the snow slowed down listing and marketing preparation.”

As the snow has melted and temperatures increase, many homeowners are looking to do a bit of spring-cleaning and home improvement. Some spring-cleaning and repairs can translate to a higher return on investment when homeowners do decide to sell. A recent report from ATTOM Data Solutions detailing year-end sales numbers for 2018 noted that the highest profits from home sales are in the west, with an average return on investment in Seattle of 70.7 percent.

Regular home maintenance, like a regular car tune-up, is crucial for ensuring your home stays in good shape and needed repairs don’t become daunting. Though many homeowners may not have the time (or cash) to complete all of the repairs and upgrades they’d like to do to their house, prioritizing certain upgrades can pay off in the long run.

“When you’re looking to sell your home, your best investments will be in curb appeal, paint and carpet,” said Weiss. “We tell our clients selling a home is like getting your car ready to sell. Homes that are actively prepared for market sell faster and for more money than homes that don’t. Our best advice for homeowners is to take care of your home on an ongoing basis; don’t let the deferred maintenance list get too long.”

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.