Local inventory is up as buyers and sellers prep for spring real estate market

February’s snowfall temporarily slowed down sales.

By Erin Flemming

Special to the Reporter

If you’re looking to purchase a home this winter or spring, you’ll likely benefit from the uptick in inventory at all price levels in the Bothell and Kenmore areas. Mona Spencer, branch manager for John L. Scott’s Redmond office, said many buyers in February appreciated the options and the less hurried pace in the local market.

In Bothell, there were 334 homes for sale in February, which is more than double the number of homes for sale in February the year prior. Kenmore’s homes for sale in February is also double 2018’s levels – going from 29-59. When looking at months of inventory in Bothell and Kenmore, each city had 0.8 months of inventory in February 2018, just a year later the cities have 1.7 and 1.8 months of inventory, respectively.

Spencer said these numbers are encouraging and a move in the right direction toward a balanced market, though multiple offer situations are still a possibility for well-priced homes in certain areas.

“We did see fewer buyers in February competing over more homes,” said Spencer. “There are fewer frenzied bidding wars, which gives buyers an opportunity to include inspection contingencies and finance contingencies in their offers. However, we are still seeing some multiple offers depending on price point, location and condition.”

Bothell and Kenmore were both hit with multiple inches of snow in February, which led to school and business closures affecting many residents. Though snow did slow things down a bit, Spencer said the local real estate market wasn’t brought to a complete standstill due to the weather.

“Our snowy February slowed down sellers from putting their homes on the market,” said Spencer. “It also slowed down buyer viewings of existing listings due to challenging driving conditions. The sales that happened during the snow were buyers that were very motivated to purchase. Once the snow melted, listings and sales picked up.”

As the snow has melted and temperatures increase, many homeowners are looking to do a bit of spring cleaning and home improvement. Some spring cleaning and repairs can translate to a higher return on investment when homeowners do decide to sell. A recent report from ATTOM Data Solutions detailing year-end sales numbers for 2018 noted that the highest profits from home sales are in the West, with an average return on investment in Seattle of 70.7 percent.

Getting the ball rolling on repairs now can pay off in spring, when Spencer said the market sees the most listings and buyers. She anticipates many of the buyers this April, May and June will be current renters who may take advantage of the inventory and interest rates to begin building equity.

“If interest rates stay low, inventory continues to grow, and our local job market stays strong, we should see a solid spring market,” said Spencer. “If interest rates remain low, it will help buyers with affordability. Renters entering the market realize that they are paying the landlord’s mortgage and are therefore not building their own equity, may not be able to have pets and are not able to control rising rental costs.”


In consideration of how we voice our opinions in the modern world, we’ve closed comments on our websites. We value the opinions of our readers and we encourage you to keep the conversation going.

Please feel free to share your story tips by emailing editor@bothell-reporter.com.

To share your opinion for publication, submit a letter through our website https://www.bothell-reporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) We reserve the right to edit letters, but if you keep yours to 300 words or less, we won’t ask you to shorten it.

More in Business

Dick’s Drive-In announces search for new Eastside location

The local popular burger chain is looking for public suggestions on possible properties

PSE offering four businesses an energy upgrade

You can nominate your favorite business by Oct. 18

Stock photo
Union files charges against QFC, Fred Meyer over Black Lives Matter button ban

Grocery store workers condemn ban; QFC spokesperson says wristband options available to employees

Facebook purchases unused Bellevue REI headquarters

The companies will also each donate $1 million to the Eastrail

Amazon adds more office space to Bellevue, now as many new jobs as HQ2

The office space for an additional 10,000 jobs, making it 25,000 coming to downtown, is expected to complete in 2023.

Courtesy Greater Issaquah Chamber of Commerce
Eastside businesses prepare for economic uncertainty with regional summit event

The Regional Business Summit, hosted by the Issaquah Chamber Sept. 10, will be held virtually due to COVID-19

The pandemic’s roots: UW Bothell team models the coronavirus

A team of computational scientists has developed web-based software that maps the virus’ protein spikes.

Free face masks available at King County Safeway locations

Stores to distribute 750,000 purchased by King County starting Aug. 24

File Photo
LA Fitness to reopen all locations Aug. 10

Gyms will follow state guidelines

Bay Area bio-tech firm to open production plant in Bothell

Lyell Immunopharma is investing $50 million in a new manufacturing facility that will employ about 100.

Face masks save lives and jobs across Washington

Wearing a mask saves lives and saves jobs. And all across the… Continue reading

BMW X3 xDrive 30e. Courtesy photo
BMW X3 xDrive 30e | Car review

With forces like BMW pushing, it’s only a matter of time before… Continue reading