There are currently 12 blog entries related to this category.
Apparently 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…
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…
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,…
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…
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 &…
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…
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…
Snoqualmie Ridge's newest large-scale development area is Eagle Pointe. Eagle Pointe is located on the southwestern side of the Snoqualmie Ridge development along Snoqualmie Ridge Parkway, and is formally referred to as the Snoqualmie Ridge Phase II Development.
The 500 residential property lots (as originally platted) in the Eagle Pointe development changed ownership in January 2011 when the Pulte Group, a Bloomfield, Mich.-based company, bought $50 million in lots and land from Snoqualmie Ridge II Development LLC. This development group was a joint venture of Quadrant Homes and Murray Franklyn homes. The sale to Pulte included much of the future Ridge inventory in Eagle Pointe, Aster Creek and west of Snoqualmie Parkway.
Snoqualmie Ridge Real Estate Moving at a Rapid Pace
The real estate market in much of the Seattle area is now a seller's market. Home-owners at Snoqualmie Ridge will be pleased to hear, and see from the statistics below, that the local market continues to recover and a rapid pace. If you are thinking of making a move to the area, or considering placing your home up for sale, now is a great time to get in on the action before the summer peak.
Pre-Owned Home Inventory Remains Scarce
In Snoqualmie Ridge, pending transactions for resale homes came up a notch in May. Note in the chart below (which represents pre-owned homes only), that pending listings have followed new listings for quite some time, but this month we see a bit more of separation…