May 2025

Even if you read this newsletter every month, here's a number that might surprise you: $1,302,841. That was the average price of a home in King County last month, the highest ever recorded for any month or year. The median price (what we usually report) also broke records, reaching $1,040,000.

Housing affordability around Seattle remains a major challenge. As more people move to the area, new construction hasn’t kept pace with demand. Most buyers are trading in “used” homes rather than purchasing new ones, and even that inventory is low. For context, King County had just over 2 million residents in 2015. In April of that year, there were 3,662 homes for sale. This April, despite a population increase of nearly 300,000 people, there were even fewer homes on the market: just 3,057.

There is hope that state-mandated zoning changes from House Bill 1110, enacted in 2023, will help ease or at least slow the upward pressure on housing costs. The law allows for increased density by permitting more units per lot. In cities with more than 75,000 residents, zoning must now allow up to four homes on a single parcel. The state’s goal is to add one million new homes by 2044.

On a personal note, this past month has been deeply emotional and profoundly inspiring as Ensemble said goodbye to our dear colleague and friend Dawn Leverett. Dawn was taken from us far too soon, at just 57, by a rare neurological disease called Multiple System Atrophy (MSA).

Dawn was the kind of person you instantly loved—stylish, kind, hilarious, and always the perfect addition to any moment. Her grace, humor, and generosity in the face of a terminal illness gave us a new perspective on what it means to live well. We will never stop missing her. If you’d like to learn more about Dawn or honor her memory, please visit dawnleverett.com. Thank you for taking a moment to remember her with us.

With summer just around the corner, keep us in mind if you, or someone you know, are planning a move, whether locally or out of the area. We’re always happy to help! And for those needing assistance beyond Washington, I have a strong network of trusted brokers across the country. My business is built on word-of-mouth referrals, and I truly appreciate your continued support. As always, I’m just a call or text away—I’d love to hear from you! - Phillip

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Deep Dive into Seattle:

Golden Age Collectables

If you’ve ever wandered through Pike Place Market and wondered where to find something totally unique — rather than just touristy souvenirs — Golden Age Collectables is your answer. This isn’t just any comic book store. It’s the kind of place that feels like stepping into a secret vault of pop culture treasures. You can walk in and find everything from vintage comic books to rare movie memorabilia and even quirky finds you didn’t know you needed.

What sets Golden Age Collectables apart is its sheer variety and character. You’re not dealing with mass-market trends here — you're walking into the oldest comic book store in the world, established back in 1961. Its long-standing reputation…

Phillip’s Tidbit

A few weeks ago, I had the awesome opportunity of chaperoning my son’s 4th grade class on a field trip to the University of Washington. It was such a fun and memorable experience! We explored the Burke Museum, toured the campus library, and met an aerospace engineering student who taught the kids about airplanes—and even had us all make paper airplanes. The summer-like weather we've been spoiled with this spring was the cherry on top!

Thank You for Your
Recent Referral!

“Ten stars for Phillip Belenky and his Team!!! Phillip recently helped us purchase a beautiful condo in a great neighborhood on Capitol Hill, and we couldn’t have done it without him. Phillip was quick and diligent in guiding us towards the condo that met all of our specifications. He skillfully helped us through the offering and negotiations process to made sure that we stay within our budget, and followed through with all the closing details timely and effectively. Aside from his high level of professionalism and experience, he was very client-oriented and easy to work with. So, if you ever in need of a genuine and nice real estate agent in the Seattle area, I would highly recommend Phillip Belenky.”

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Art Dao

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