Happy New Year!
In 1976, the disco smash hit "More, More, More" took the US and the world by storm. Little did its creators know that nearly 50 years later, their lyrics would perfectly describe Seattle's 2024 real estate market!
Yet here we are, reflecting on a market that weathered immense downward pressure and still delivered solid performance for the average King County homeowner. Nearly every key metric was higher than in 2023:
Sales price – more! The median sales price rose over 8% for both single-family homes and condos. Notably, much of this growth came from the Eastside, where, as mentioned earlier this year, the median sales price in Bellevue is now double that of Seattle.
New listings – more! An additional 30,000 active units hit the market, with most going under contract within a month of listing.
Interest rates – more! Rates ended the year slightly higher than last December but, encouragingly, were down from the 20-year highs we saw in May.
Closer to home, Ensemble wrapped up our first full year as a brokerage. Staying true to the theme of "More," we welcomed eleven new brokers to the team, donated to more local charities, and assisted more than 180 households buy or sell a home.
We also launched an exciting new program: Ensemble Amplify. This pay-when-you-sell initiative allows sellers to upgrade their homes before listing with minimal friction. Learn more about Ensemble Amplify in the flyer below!
This month’s featured local business is Fast Penny Spirits in North Queen Anne. A valued friend of Ensemble since day one, this women-owned, sustainably focused Amaro distillery offers delectable cocktail sets, personalized facility tours, and events year-round. We’ve loved collaborating with Jamie and her team on projects like their summer concert series and our equitable homeownership presentation last November.
If you’re looking for a fun way to spend an afternoon or evening this winter, you might want to take a cooking class at Hot Stove Society in Belltown. Our Ensemble New Year party was hosted here, and to say we had a nice time would be an understatement. We were overjoyed with our experience! You can capture a taste of our evening on our Instagram reel.
As always, if you or someone you know would like to learn more about the current market or have questions, don’t hesitate to reach out. I’m just a call, text, or email away! - Phillip
Featured Properties
Deep Dive into Seattle:
Fast Penny Spirits
Seattle’s craft spirit scene is home to innovative distilleries, but few stand out like Fast Penny Spirits. This women-owned, award-winning amaro distillery brings Sicilian heritage, sustainability, and exceptional craftsmanship together to create a truly unique experience. Located in the North Seattle Coastal Transportation Shipyard, Fast Penny Spirits is a testament to…
Phillip’s Tidbit
We’re deep in gymnastics meet season which goes Jan-March. It’s fun to watch Dahlia and Laydon compete and continue to improve. Laydon even had his first out of state meet in California over MLK weekend!
Special Shout Outs!
This month we want to give special thanks to:
Heidi Thompson-Daly & Kurt Genkin
Thank you both for your recent dedication to the team and giving the PBNW treatment to our people!
Michael Larson
Thank you for your referral! We are so grateful for your trust and the opportunity to serve such wonderful clients.
Connie Lindsay
Your ability to make mortgage magic continues to awe us! Thank you for always providing extraordinary service to our clients.
January Home Tips
Our short list of quick tips to keep your home safe and enjoyable. Don’t hesitate to reach out if you’d like any service provider recommendations and for a complete home maintenance checklist.
​​​​​​​Market Stats
(Median Sales Price - Live Data)
Residential or Condo
Residential or Condo
Reach out if you would like a customized neighborhood or area report.
