Snoqualmie Market Reports

There are currently 14 blog entries related to this category.

Active resale single-family home listings at Snoqualmie Ridge increased 36% in July over June, and a dramatic 69% increase compared to July 2013. It's worth a special note, that this is a month ahead of the "typical" seasonal pattern, when inventory creeps upwards and buyer traffic begins to wane. While more resale home inventory is good news for buyers, especially those buyers who've grown weary of limited inventory and multiple offer situations, the changing market is of course not welcome news for prospective sellers.

Snoqualmie Ridge Market - August 2014

In Snoqualmie Ridge specifically, the first half of 2014 saw home prices increase rapidly with limited inventory - almost an identical pattern to the spring of 2013. Some new listings were selling in only a matter of a few days

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The Woodlands is a new townhome-style apartment complex in Snoqualmie Ridge. Construction of the new complex began in early 2013 and is located on the corner of SE Swenson Drive and Snoqualmie Parkway. The twelve building, 100-unit apartment community is being developed by the Evergreen Housing Development Group.

Woodlands Apartments Photo


The Woodlands Apartment Features

According to the Woodlands website, interior finishes will include luxury features such as high ceilings, stainless steel appliances and hardwood-style plank flooring. The Woodlands will offer three general style floor-plans; one with two bedrooms and two with three bedrooms. Many of the units will offer a one-car garage.

The townhome units with a garage will be on three levels while one of the

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snoqualmie ridge home pricesAre we seeing an abrupt end to the strong seller’s market at Snoqualmie Ridge? The market data from August and September will certainly tell the tale - however in our observation of CURRENT market dynamics, the answer to that would be “yes.” As many homeowners and current sellers are aware, Snoqualmie Ridge has enjoyed a very fast-paced market over the past few months, with resale homes in several price ranges selling quickly, and at prices we haven’t seen in a very long time.   In fact, the median selling price for resale single-family homes at Snoqualmie Ridge in July was approximately $497K - an approximate 14% increase over July of 2012. However, looking at the chart below, notice the two spikes in new listings - both in April, and July. While…
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home prices risingApparently Snoqualmie Ridge homeowners have gotten the message - "NOW is a great time to sell your home!" During the month of April, new listings for resale homes and pending sales literally “skyrocketed” compared to previous months and years. New listings more than doubled, while pending sales were just shy of doubling as well.

For homeowners who are considering placing their home on the market, inventory still remains at historically low levels. Buyer demand continues to be exceptionally strong at Snoqualmie Ridge, and this is especially true in the $350K - $550K price range. A home which is well-maintained and properly prepared for the market should generate enough interest to sell within a couple weeks - if not much sooner, as has often been the

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Currently own a smaller home at Snoqualmie Ridge and feeling a bit “squeezed?” Thinking of buying a bigger house? Move-up home buyers have a great opportunity going into 2013 at Snoqualmie Ridge due to the VERY strong demand for homes priced at, or near $400,000, compared to the somewhat weaker demand for homes priced above $500,000.

To demonstrate the move-up opportunity compared to years past, let’s compare the number of sold homes at Snoqualmie Ridge in 2006 and 2012.

  >>>  Hover over the chart to see the differences  <<<

 

Notice the statistics have completely flip-flopped. Affordability and loan qualification standards are among several reasons for this - but many home buyers are now uncomfortable buying a larger home as in years

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Pending sales at Snoqualmie Ridge increased in November, and demand for pre-owned homes under $400,000 is exceptionally high, as we experience the lowest available inventory in that price-range in a few years. Fortunately, we've reversed what we discussed in November's market update for Snoqualmie Ridge, when the overall dynamics turned negative.

Pre-Owned Pending Sales Increase - Inventory Remains Tight

Compared to October, November's pending sales increased by 20%, while new listings dropped by 36%, with 9 new listings in November.  Closed transactions in November remained flat with 8 closings. Home inventory levels remain "healthy" where most sellers are concerned with 20 homes for sale as of November 30th. Compared to last November 2011,

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October Home Sales Drop Sharply - Sellers Should Remain Conservative!

Well in Snoqualmie Ridge anyway, it appears we've come to a screeching halt on the sale of pre-owned homes in October. (Pre-election jitters perhaps?) The momentum we spoke of through the summer, and in October's market update for Snoqualmie Ridge pretty much evaporated over the past few weeks, with half the number of closings, an increase in new listings, and slightly increased inventory. Pending sales have also continued to drop.

Part of this is simply due to seasonality - on average, there's historically less activity as we exit summer. However, as we've been saying for quite some time, while the market dynamics at Snoqualmie Ridge have drastically improved over the past

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September Home Sales Drop Slightly as "Fresh" Inventory Shrinks

The momentum we spoke of in September's market update for Snoqualmie Ridge has slowed down just a bit, with fewer closings and essential "flat" new listings in September. Pending listings are also down, likely due in large part to fewer "fresh" listings coming up for sale - many buyers feel they simply don't have enough to choose from in order to make a purchase at this time.

Regardless, inventory remains tight for resale homes, which normally would put upward pressure on home prices. But as many buyers sit on the sidelines waiting for their "perfect match" to come up for sale, we continue to see price reductions with regularity - not only in Snoqualmie Ridge, but in Issaquah &

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August Home Sale Rise at Snoqualmie Ridge - Upward Momentum Building Again?

After a somewhat surprising early-summer cool down, and the slight bounce-back we spoke about in August's real estate update for Snoqualmie Ridge, it appears we've picked up momentum again, as homes sales for pre-owned, single-family homes in August jumped up, with more closings than we've seen in over a year! (How quickly things change...) Typically, fewer potential sellers list their homes in the fall, so this could mean that the housing market will get even tighter in the coming months, which will likely cause prices to begin to creep up, once again. This is continued good news for current home-owners hoping to recapture some of their lost equity.

This sudden increase

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July Home Sales at Snoqualmie Ridge Bounce Back from June

The "Summer Cool Down" we discussed in July's real estate update for Snoqualmie Ridge , has bounced-back just a bit for single-family pre-owned homes. While pending listings and closings in July are up from June, we've clearly lost the a bit of the traction which was building in March through May - though it was unsustainable. This is somewhat in contrast with other parts of the Seattle metro area, where inventory remains exceptionally tight and prices continue to increase.

Undoubtedly, the pressure on pre-owned homes is in-part due to the new construction homes at Snoqualmie Ridge. However, Snoqualmie Ridge isn't alone in pricing pressures - I've noted a similar trend in some price-ranges

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