Issaquah Market Reports

Issaquah Market Update October 2014: Price Reductions on the Rise

Did the headline of this post make you do a double-take? Yes... you read that correctly - price reductions in Issaquah have become more common over the past quarter, and the average Days on Market continues to rise, with 40-60 days market time becoming common. While well-priced homes continue to sell quickly in a week or less, the frenetic pace of the Issaquah real estate market has definitely cooled. But the good news is, that for the time being anyway, it appears prices are remaining somewhat stable, as the reductions have been fairly conservative.

If you've been paying attention to the local real estate market for the past couple of years, you know very well that both Issaquah...

Seattle Eastside Housing Market Continues to Pick-Up Steam - The Heat Is On!

The springtime real estate market in the Seattle area has been hot the past two years - and for the last couple days anyway, we've had the temperatures to go with it! (Though, coming from Texas, I still can't help but chuckle when the newscasters use words like "sweltering" or "steamy" when describing our occasional "heat waves.") The last two weeks have seen a huge increase in market activity in Sammamish & Issaquah - and to a lesser extent, Snoqualmie & North Bend. As of the timing of this post, just in the past 36 hours we've seen over 60 new listings in this relatively small area - and we still have the rest of Friday to go!

Last week,...

Shortage of Issaquah Condo Inventory Causes Highest Prices in 4 Years

Looking to sell or buy a condo in Issaquah this spring? The market has changed! Gone are the days where buyers had oodles to choose from. So buyers take note... it's no longer a matter of getting a "good deal" per se - but more a case of being in the right place at the right time, as you'll likely be competing with other buyers.

issaquah condo price chart

For sellers, the early to mid spring of 2014 appears to be an ideal time to list. The Issaquah condo market has recovered well, and will likely continue to do so. Should you wait to sell? Well, that depends on your personal situation. Keep in mind that interest rates are likely to climb in 2014. So, while you may be able to sell for more...

Looking to Rent a Home in Issaquah? Beware of Scam Rental Listings!

Scam Alert!

We have been contacted 3 times in the last 3 days by people searching RealFX.com for rental homes in Issaquah - but not for the reasons you may think. These inquiries weren't necessarily to ask about any particular listing, but rather to inform us that they found several Issaquah home listings for rent on third party websites, which are actually listed for sale on our website (which carries a data feed from the Northwest MLS).

While scam rental listings aren't anything new (they've been going on for years) they are in fact a relatively new phenomenon in the Issaquah market - and the problem is much worse in really "hot" markets like Bellevue. Those looking for rental properties in our area need to be extremely cautious about who...

Issaquah Home Prices Jump 25% in November, as Inventory Drops Again

Just when you thought increasing prices for Issaquah homes were taking a hiatus, we see more signs that the local housing market isn't going to slow down anytime soon. November single-family home prices in Issaquah were up - the median single-family home price increased a whopping 24.6% over November of 2012 - and available inventory has retreated once again to 90 units, a decrease of 28.5% compared to the same month last year.

Rising Issaquah Home Prices

What's Causing Issaquah's Rising Prices?

It's no secret that the entire Seattle metro area continues to experience rising home values - inventory remains low, although some markets on the Eastside have relaxed "slightly" from the hectic atmosphere...

New Issaquah Development & Buyer Demand Sparks Rising Home Prices in 2013

Issaquah is proving more popular than ever with home buyers in 2013. While Issaquah has historically enjoyed a very active market compared to other "suburban" communities in King County, with inventory continuing to shrink in neighborhoods closer to Seattle (and affordability dwindling), a greater number of buyers are choosing to purchase homes farther east. This trend, combined with new commercial & residential development in perennially "hot" neighborhoods like the Issaquah Highlands, has lead to a seemingly never-ending increase in home prices.

Is this good news? Well, this of course would depend on who you ask. For sellers, compared to previous years, this obviously means fewer days on the market, and a higher selling price - and perhaps some relief for many weary homeowners who are no longer "underwater." But for buyers, it means less home for the money, and...

Active Listings in Issaquah Increase 17% - Signs of a Slow Down?

The number of Issaquah homes for sale continues to rise. For the second month in a row, the number of "active" listings for single-family homes in Issaquah increased significantly. In May 2013, active listings increased 33% from April - and then went up again 17% during June. At the same time however, the number of <empending sales dropped 10% in June compared to May. As evidenced in the chart below, for the time being anyway, active and pending listings are now plotting in the opposite direction, rather than colliding - thus there are at least a "few" more homes available for Issaquah home buyers to choose from - relatively speaking, that is. Since January of 2013 the Issaquah housing market has been decidedly in favor of the seller, with new listings being immediately gobbled up in multiple offer situations.

issaquah-home-sales-June-2013...

Issaquah Home Buyer Demand & Prices Continue to Increase - May 2013

98029_Issaquah-home-sales-0513The Issaquah real estate market continues to be driven by exceptionally strong home buyer demand - there's simply not enough resale inventory to satisfy the number of home buyers out there in Issaquah today. As a result, Issaquah home prices continue to increase.

The past couple of Thursday and Fridays have seen quite a few new listings however, and that's good news. But, they've also been snapped-up very quickly by savvy buyers waiting for a good match to come up for sale.

With this said, it is interesting to note, as shown in the charts below, that the trends of the Issaquah housing market are...

Issaquah Home Buyers Win with Multiple Offer Strategies

multiple offers"Issaquah, We Have a Problem!" Record low inventory of available homes for sale in Isssaquah is causing buyers to grow increasingly anxious... if not desperate.

Multiple offers have been common place for a while, but now we're also hearing stories from other real estate agents of some sellers becoming quasi "homeless" because they can't close on their new homes quickly enough, or they simply weren't able to find a suitable new home - so temporary housing may be necessary.

In Issaquah, the neighborhoods with the greatest level of buyer demand include Klahanie, the ...

Yes, Issaquah is a Seller's Market - Curb Appeal Still Matters!

Curb AppealYou know the saying... "First Impressions are Everything!"  And, nothing holds more true than in real estate, when placing your home on the market. If you are preparing your Issaquah home for sale, it is critical to take a step back and look at the home's curb appeal through potential buyer's eyes.

When driving by, all buyers will immediately form an opinion about your home based-upon the exterior - and letting exterior issues go unattended can send potential buyers directly to your competition. It has been demonstrated time and time again, that curb-appeal can be the number one factor in getting a home sold in a reasonable time, and for the best price - and even in our current seller's market in Issaquah...

Pre-Inspections in Issaquah Happening DURING Open Houses!

multiple offersAnother weekend in Issaquah with crazy open houses - and multiple offer situations. Buyers are out in great numbers, and the pickings are very slim.

Today marks a first for me though... witnessing TWO inspectors suit-up at separate times as they took turns inspecting the crawl-space and other areas of the home - DURING a very busy open house!

Agents have argued back and forth for years about the effectiveness of open houses. Well, now Issaquah open houses are almost mandatory. With such limited inventory, the open house allows as many potential buyers as possible to see the home in a very short time span, and with as little inconvenience to the sellers....

Issaquah Open Houses - It's a Madhouse Out There!

mad-housePlanning to look at Open Houses anywhere in Issaquah soon? Get in line - and you might consider wearing some padded sports gear too, because it's pretty crazy right now.

In the past couple of weeks, I've accompanied buyer clients to homes in Issaquah which happened to have open houses scheduled. In one case, we literally had to stand in line to get in - and in another, there were so many people in the house, I'm surprised the fire marshall wasn't hosting the house open instead of the agent. Both of these homes were in Klahanie, a very popular neighborhood between Issaquah and Sammamish.

Most single-family homes in Klahanie range in price from the lower $400's to the upper- $500's...

New Home Prices Increase at Issaquah Highlands' Forest Ridge

Hot DealsHome prices continue to rise nationwide and in the entire Seattle metro area - and in our observation, this is clearly evident in the prices for new homes in the Issaquah Highlands.

New home construction in the Highlandshas really taken-off during the past several months - and in at least one particular case, since March, new home prices are up as  high as 17.5% - yes... you read that right.

Huge Demand for Polygon Homes at Forest Ridge

One community in particular, is the very popular Polygon Homes community of Forest Ridge...

Resale Homes in Issaquah Highlands in High Demand

Want a Home in the Issaquah Highlands? Get in Line...

The Issaquah Highlands have always been incredibly popular, and this summer, the pace of the housing market in the Issaquah Highlands shows no signs of slowing down. Resale home inventory continues to be exceptionally tight, with only one, to two months worth of inventory - though in the lower price ranges, homes are selling in a matter of days. And, for the first time in 3 years, the number of pending listings was actually HIGHER than the number of homes for sale!

So... What Does This Mean? Well... in short, for buyers it means making decisions quickly. No one likes to feel pressured - and we certainly get that. However,...

Klahanie Housing Market Statistics June 2012

Klahanie Real Estate Market is Competitive!

As many home buyers and sellers have no doubt heard, the Seattle real estate market has transitioned to a "seller's market" over the past few months. While Klahanie has always been a very popular Issaquah neighborhood, there just aren't enough homes to satisfy the number of buyers, who are in many cases literally lined-up at the door waiting to take a peek as new listings come up for sale.

The fact is... if you are a potential home buyer, and you want to be in Klahanie, you'd better be prepared with a mortgage pre-approval, and be comfortable with making decisions quickly.

List Your Klahanie Home for...

Buyers Snap-Up New Construction Homes at Issaquah Highlands

New Home Construction at Issaquah Highlands Takes Off!

For obvious reasons, new construction has been "slow" over the previous few years. But, with a clearly improving housing market in Seattle (most areas of Seattle are seller's markets), combined with a sudden surge in buyer activity and increased new home demand, new home builders at the Issaquah Highlands are clearly paying attention. New home construction and sales activity have increased for all builders, including Camwest, Pulte (Centex) and Polygon Homes.

They're Building Them as Quickly as They Can

In the chart below (for detached single-family new homes only), notice that the during the previous 15 months, the number of "new listings" for new construction ...

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