You may not have found a four-leaf clover or the end of a rainbow but you could still be sitting on (or sleeping in) your own pot of gold -- in the form of real estate. Whether you are an investor or simply own your own home, you may not realize that you have a tremendous amount of equity in your property. This is true no matter the size of your property or when you bought it. You may even be surprised by the incredible equity you have even if you just bought your home last year.
Let's get down to the facts from February 2021...
KLAHANIE IS HOT! In February 2021, Klahanie houses only stayed on the market for an average of 6 days! In actuality, this number would likely be even smaller but homeowners are choosing to wait for the offer review date before they accept one. Bidding wars should be expected on every house. On average, Klahanie houses sold for 102.9% of their original listing prices in February. The median sale price for a house in Klahanie during February was $885,000. This is up 14.6% compared to February 2020. This means that if you bought your Klahanie home in February 2020, you may already have about $130,000 of equity in your home! Find out instantly what your home is worth or Name Your Own Selling Price! There is currently .2 (two tenths!!!) of a month of inventory available for houses in Klahanie. This means there is less than 1 week of inventory available.
As a Klahanie resident, I am not surprised that it is such a popular place to live, inventory is incredibly low in our neighborhood, houses are flying off the market, listings are getting 100+ showings each, bidding wars are common ground, and houses are selling for prices well over the original listing price. Our community is amazing!! The Klahanie shopping center has an amazing variety of stores, restaurants, salons, pet care, and essentials. I am even conducting a contest for all of Klahanie, Issaquah, and Sammamish to support these (and other) local small businesses. Just make purchases at these 15 businesses before the end of the month and you could win a gift basket valued at over $700!!! CLICK HERE for the details and to participate! In addition to convenience, our community includes Challenger Elementary, beautiful parks, two pools, trails, yellow lake, and is beautifully well-kept. There are tons of activities for youth, adults, and families.
If you are looking for an incredible community to live in, Klahanie is a go-to neighborhood! With about 3,000 homes, you're likely to fall in love with at least one the moment it comes on the market. Whether you want to move into this amazing community or cash out the unbelievable amount of equity you have in your Klahanie home, contact me today and we will get started on your Klahanie real estate goals.
As we will see in all three of the markets highlighted in this post, Condos are a Bright Spot for Buyers. In February 2021, Klahanie condos were on the market for an average of 19 days and there are currently 1.3 months of inventory available. The median sale price last month was $456,000 which is up 9.6% from February 2020. This means that if you bought your Klahanie condo in February 2020, you may already have close to $44,000 of equity in your home! Find out instantly how much your condo is worth or name your selling price! On average, Klahanie condos are currently selling for 99.7% of their original listing price. Bidding wars are still there but may not be quite as common for condos as they are with houses. This is part of what makes condos such a bright spot in this market.
Similar to Klahanie, SAMMAMISH IS HOT!!! This market has seen incredibly high returns in the past 12 months! In February 2021, houses spent an average of 19 days on the market before they were under contract. The median sales price was $1,175,000. This is up an astounding 15.2% compared to February 2020! That means that if you bought your Sammamish house in February 2020, you may already have about $178,600 of equity in your home!! This median price is up $18,000 compared to just last month. Find out instantly what your Sammamish house is worth or name your own selling price. The BEST time to sell is NOW. With only a .8 month (about 24 days) inventory available, bidding wars are constant in Sammamish. On average, houses are selling for 102.2% of their original listing price.
While Sammamish condos are a bright spot for buyers in our community, the investment in them grew tremendously over the past month, let alone the past year!! In February 2021, Sammamish condos were only on the market for an average of 25 days and sold for a median price of $520,000. This is up $17,500 compared to just last month!!! In comparison to February 2020, the median price for Sammamish condos is up 3%. Remember our discussion last month about real estate being an investment? This investment is as good as gold! If you bought a Sammamish condo in February 2020, you may already have about $15,600 of equity in your condo! Find out instantly what your Sammamish condo is worth or name your own selling price. Currently, Sammamish condos are selling, on average, for 99.8% of their original listing price and there is 1 whole month of inventory on the market.
Similarly as white-hot as Klahanie and Sammamish, ISSAQUAH IS HOT!! In February 2021, Issaquah houses only stayed on the market for an average of 23 days. Houses sold for a median price of $930,215. This is up 8.2% compared to February 2020. If you bought an Issaquah house in February 2020, you may already have nearly $75,000 of equity in your house!! Find out instantly what your Issaquah house is worth or name your own selling price. In uniform with the rest of our region, bidding wars are to be expected on most houses in Issaquah as they are selling for an average of 101.3% of their original listing price. There is currently one whole month of inventory on the market for Issaquah houses.
In conformity with the rest of our community, Issaquah condos shine as a bright spot for buyers while also returning a great yield for owners. On average in February 2021, Issaquah condos were only on the market for 25 days before they were under contract. The median sale price was $478,000 which is up 6.2% compared to February 2020. If you bought an Issaquah house in February 2020, you may already have nearly $30,000 of equity in your house. Find out instantly what your Issaquah condo is worth or name your own selling price. Bidding wars still exist for Issaquah condos but might not occur for every single one, which is why they are considered a bright spot for buyers. Issaquah condos, on average, sold for 99.7% of their original listing price in February 2021 and there is one whole month of inventory available on the market.
Best Communities. Best Timing. Best Investment.
Klahanie, Sammamish, and Issaquah are such wonderful communities and places to live. There are so many activities for youth, adults, and families! Without a doubt, NOW is the BEST time to sell. Mortgage rates are slowly starting to tick up as our economy is picking up steam and quarantines are lifting. Curious about the size of your pot of gold? Contact me right away for a complimentary, no-obligation valuation of your property. If you have been waiting for the best time to list your property, wait no longer. Likewise, if you have been thinking about buying, get in now and start earning equity!