Q1, 2024 Newsletter

Q1, 2024 Quarterly Newsletter

A Quick Market Update 25 Avg. Days on Market in Mar '24 Down from 35 days in Mar '23 2,316 Active Listings Down 6.8% YoY 101.7% List Price vs Sell Price Up 2.2% from March '23

Seattle Home Inventory Lowest in the Country The latest National Housing Report revealed that despite YoY increases, the Greater Seattle Area currently has the lowest housing supply in the nation.

In March, Greater Seattle’s housing inventory only resulted in a 0.6-month supply, which is significantly below the balanced market threshold of around six months. The strong local economy and high employment are empowering buyers, lessening the fears around the higher interest rates. However, sellers are showing reluctance to list their homes, given most of them are locked into the low interest rates that resulted due to the pandemic. The limited inventory has led to heightened competition among buyers, with the average days on the market decreasing by 25.4% in March, down from the same period last year. Additionally, Seattle recorded the fifth-highest home prices in the U.S. last month, with the median sales price increasing by 12.2% from a year earlier. Looking ahead, it remains to be seen whether more homes will become available throughout the spring. However, for now, the market continues to lean heavily in favor of sellers, which is why we are encouraging clients to sell now if they are considering doing so.

Our Latest Success Story Pending in just 3 days in Tacoma! Speaking of low inventory and high demand, we are thrilled to share a recent success story that highlights the power of strategic preparation and effective marketing. In just 3 days, a charming craftsman in Tacoma went from listing to pending, exceeding our clients' expectations and showcasing the impact of our dedicated approach to selling homes. After our clients moved out, we immediately set our plan in motion. Within 8 days, our team worked tirelessly to transform the property. The interior of the house was painted, light fixtures were updated, landscaping was refreshed, and the house was meticulously cleaned. We then swiftly moved in staging to enhance the visual appeal of the home. Once the property was ready, we wasted no time in getting it on the market. The response was nothing short of remarkable. Within just 3 days of being listed, we received an offer that was $16,000 over the asking price. This rapid and impressive result speaks volumes about the demand for well-prepared and beautifully presented homes in the current market. We take great pride in our ability to guide our clients through the selling process with efficiency and professionalism, ensuring that their properties stand out and attract motivated buyers.

Escape to paradise at Crescent Ridge Carve Your Story Into the Cliffs of the Columbia

Crescent Ridge is a brand new luxury home development overlooking the Columbia River in the resort community of Crescent Bar, WA. Just 3 hours from Seattle, Crescent Ridge averages 300 days of sun and is loved for extensive outdoor recreation opportunities, including powerboating, watersports, golf, trail riding, hiking and more. The two primary neighborhoods, The Ranch and The Vineyard are perched alongside a signature 500-foot basalt ridge. Each home has been carefully sited to feature expansive views of the Columbia River.

Highlights of Crescent Ridge homes and amenities include: Expansive living space: The heart of each home is its open-concept kitchen, dining and living area. These layouts create a seamless flow, perfect for family gatherings and entertaining friends. Well-equipped chef’s kitchen: Anchored by an oversized island with eating bar and Thermador’s Masterpiece Collection appliance package. Layouts include walk-in pantry and an abundance of countertop surface. Personalized design style: Each home features one of three finish styles, ensuring Buyers find a character that matches their personal taste. Oversized garages: Whether you're a water lover with boats and jet skis or a recreational vehicle enthusiast, all homes have garages with 12’ door height and over 30’ deep bays. Convenience of dual washer/dryer sets: Making life easier, most homes feature dual sets of washer and dryer units to keep up with the demands of an active lifestyle. Easy to maintain: Crescent Ridge offers whole home automation that provide you with complete control over your lights, access control, audio system (both inside and out), security, and more. Breathtaking outdoor living: The highlight of Crescent Ridge's luxury living is its wrap-around patio, offering panoramic views of the Columbia River and the iconic 500-foot signature basalt ridge. Set up for vacation rentals: Owners in The Vineyard neighborhood have the option of offsetting their cost of ownership through short term rentals, soon to be made possible through a premier hospitality partner coming to Crescent Ridge. For those seeking a more private retreat, The Ranch neighborhood does not allow short term rentals.

Meet one of our preferred lenders! Said Hamood has been in the mortgage business for over three years and is dedicated to helping clients achieve their homeownership dreams. He believes in providing a simple and transparent financing process, guiding clients through each step, and keeping them informed along the way. If you have mortgage questions, click the link below to chat with Said! DRE# 1827048 Chat with Said

Upcoming Client Events Formal invites to come.

Paella Party JULY

RWG Properties M: 206.321.0775 Team@RWGProperties.com RWGproperties.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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