Normandy Park, Burien, Des Moines and West Seattle are all covered in a beautiful blanket of snow! It doesn’t happen often so it’s exciting when it does! The neighborhoods look so pretty and the kids, dogs – and some of us adults – are loving our snow day!
Year over year median sales price was up 19% in Normandy Park last year. The 2019 housing market is positioned for another active year. However, we expect the home price appreciation pace to be more moderate than we have seen in previous years.
Interest Rates are Rising: Yes, those 3.85% interest rates from a year ago are a thing of the past. Experts predict mortgage interest rates will hit and hover around 5% in 2019. When you consider the average interest rate in 1981 was almost 17% – 5% still seems pretty amazing!
Inventory is Up: The number of active listings in King County is up 135% compared to a year ago. While supply is improving, it’s still considered well below the 4-6 month level industry analysts use as a gauge of a “balanced market”. The added inventory has been welcome news for buyers and homes that are priced right are still selling quickly.
Median Price in King County is Up: The median home price in King County was $643,913 in November, according to statistics from the Northwest Multiple Listing Service. That’s up 2.47% since January.
Take a look at my newest listing in the peaceful community of Ames Lake in Redmond. You’ll love the serene and natural setting of this home- just 20 minutes from downtown Redmond and Microsoft. More information on this home can be found @ www.johnlscott.com/13198
This “open concept” main floor in my newest listing in Redmond is just what today’s buyers are looking for.
Learn more about this listing: https://www.johnlscott.com/search/listing/3484087
I’ve lived in the Puget Sound region my whole life. For over 20 years I’ve worked and sold homes in most Seattle area neighborhoods but the majority of my business is on the Southwest shores of Puget Sound – West Seattle, Burien, Normandy Park and Des Moines. I know all the great neighborhoods, parks and ammenities in these wonderful communities.
View of Mt. Rainier and The Des Moines Marina from Marine View Park in Normandy Park.
