Ensemble celebrated a big moment of pride this month when we were recognized as one of the most innovative brokerages in the country. Inman, a real estate news and editorial organization that has been an industry staple for nearly 30 years, hosts the Inman Innovator Awards each summer at their Inman Connect conference. The awards spotlight companies that are pushing the industry forward through creativity, fresh ideas, and a willingness to challenge the status quo.

This year, Ensemble was named a finalist, with the winners announced on August 1. Our name appeared alongside some of the most well-known companies in the nation, and we were proud to be the only independent boutique brokerage on the list. While we didn’t take home the top prize, the recognition alone was meaningful. We’ll continue to raise our own standards, evolve our services, and focus on delivering the best outcomes possible for our clients. (And yes, there’s still room on our trophy shelf—just in case anyone else wants to hand out an award.)

This summer has been a busy one for PBNW Homes Team. August is typically a much quieter month while many are on summer vacation mode but we've been busy helping several clients. Two of our buyers closed on their new homes this month, and we celebrated two of our sellers close on their listings. We have a few buyers actively searching and several listings that are in preparation stages for the autumn. Starting the process early is imperative to a successful outcome.


Over the past few months, we’ve talked about limited inventory, rising prices, interest rates, and how buyers are securing better terms, even if not better prices. One remarkable stat illustrates just how tight the market remains compared to the pandemic-fueled surge before interest rates jumped in March 2022. In the chart below, you’ll see the number of Seattle single-family homes sold between January and July in 2021—nearly 6,700 closings. 

Compare that to this year: 3,859 closings. That’s a 42% drop. But it’s not because homes aren’t selling, it’s because there simply aren’t enough to buy. Once again, limited high-quality inventory is what’s propping up home prices in Seattle. Good homes—well-presented and properly priced—continue to sell for historically high amounts. Below you can find charts on Year-over-Year and YTD summary on King and Snohomish Counties. A few key stats are: median price in King County for single-family homes is up 3% YTD and Snohomish is up 5%. Condos in King County YTD are up 5% and in Snohomish they're flat.

 If interest rates decline, competition will increase again, until more homeowners currently locked into 4% (or lower) rates are ready to give them up in order to purchase a new home. That would help boost inventory but it would also increase the number of active buyers. While most buyers are getting rates in the mid-to-upper 6's, we personally have some clients securing rates in the mid-5's on 10-yr ARMS. Staying informed and nimble is key when the right moment comes along. Let me know if you’d like to chat about your specific situation. As always, I'm just a call or text away. -Phillip