Team Diva’s Kim Colaprete Quoted in The Seattle Times Article on Seattle’s 2019 Real Estate Market Trends
Winter is often a quieter season when we can spend time reflecting on the year behind us and what awaits come the first signs of spring. In the real estate world, soon-to-be home buyers and sellers are (or should be) getting their strategy and plans together. And this starts with figuring out what the heck is going on in the real estate market.
The Seattle Times just published “While region’s median home prices rose last year, King County’s took a dip — but it won’t last”. The article was beautifully written by Seattle Times Business Reporter Katherine Khashimova Long. Ms. Long details out a facts-packed article outlining big trends from Western Washington’s real estate market in 2019 with a focus on the Puget Sound region.
Seattle’s 2019 Real Estate Trends Per the Seattle Times Article
The median home price is overall up in Western Washington. For instance, in 23 Western Washington counties went up 6.1% from 2018 to 2019, bringing the median home price to $435,000. According to the article, median home prices in King County actually fell a teensy bit; there was a small 0.7% decrease overall, but this shouldn’t scare homeowners or sellers. After all, the previous year brought King County’s median price to an all-time high ($675,000 to be exact). Plus, less expensive homes saw much more appreciation in most of Western Washington. And this is also true for King County homes.
It’s also important to keep in mind that figuring out what’s happening with the King County real estate market in 2019 isn’t cut and dry. It really depends on a variety of factors including your specific neighborhood and price point. Check out our neighborhood page for more specific pricing for your area.
Our Own Diva and Top Producer Kim V. Colaprete Was Quoted Extensively in the Article
Of course, the Seattle Times interviewed our very own Diva and top producer Kim Colaprete to get her expert insight on 2019 real estate trends in Seattle. Kim’s got her finger on the pulse of what’s happening with the local market so she can give Team Diva’s clients savvy advice, and in the Seattle Times article she points out that 2019 felt like a year of transition and a bit of a shakeout year. Not only did 2019 include intense multiple offer scenarios, but many listings went for way over the market and our clients also got amazing deals on homes that had been sitting on the market for a long time.
Kim’s Quote in the Seattle Times Article
“It felt like a year of transition. A little bit of a shakeout year,” said Kim Colaprete, a broker at Coldwell Banker Bain. “There were crazy multiple offers in some scenarios. We also had clients who got amazing deals on properties that were on the market for a long time. And we had listings that sold for way over market.”
In recent weeks, Colaprete said, she’s noticed such a shortage of inventory and so much pent-up demand that multiple offers and quick-selling listings are once again the norm. Particularly for King County homes listed for less than $600,000.
“It was chaos” at a showing last month of a Burien home listed for $550,000, Colaprete said. “It wasn’t even an open house. But at one point there were 15 people there, someone doing a pre-inspection, someone finishing up a pre-inspection, someone else arriving for a pre-inspection.”
Kim also shares how she’s seen a shortage of inventory in recent weeks, and there is a very high demand from buyers. This has been resulting in multiple offers and listings that sell like hotcakes. Especially for King County homes under a $600,000 price point.
What Are the 2020 Real Estate Trends?
So what awaits us in 2020? The Seattle Times article shares that “brokers and lenders expect low-interest rates, strong job growth, and pent-up demand,” and this will continue to drive up home prices as more and more people are positioned to become homeowners.
Thank You For Quoting Our Diva Kim Seattle Times
Thank you Seattle Times for quoting Kim. Kim is an incredible news source and really understands the dynamics of the real estate market and the social issues around buying and selling homes. Team Diva is often used as a unique voice in real estate by media outlets. Here are a few other
- Chavi On KOMO News Talking About The Risk of Going Back to School With COVID
- Roy and Diva Dwellers Quoted in Seattle Met – Buying a Home During COVID
- Diva Dwellers Kitsy and Janko on NPR’s Morning Edition
- Team Diva’s Quirky Studio on MSN Online
You can also catch up with Team Diva every week on their weekly Roy and Kim show that is also now a podcast.