LOCAL MARKET UPDATE

Home prices in King County were up in April, but low inventory has taken its toll on the number of sales.

  • There continues to be much more demand than there is supply, with King County having just 1.7 months of inventory. A 4-6 month supply is considered balanced, so we remain in a solid seller’s market. In sought-after neighborhoods that means bidding wars, escalation clauses and very few sellers willing to consider a contingent sale. That tight inventory has translated into rising home values.
  • More listings should be coming. Inventory traditionally rises in the months of March through September. That annual cycle should also cause us to see a rise in sales that will then flatten out in the summer months. Hopefully the continuing trend of rising prices will convince more sellers that this is an excellent time to get top dollar for a home. Even with increased activity, transactions this spring are likely to be below the high levels of 2013.
  • Despite a slowdown in the number of sales, price appreciation was up. The median price of single-family homes sold in King County in April was $430,500, an increase of 7.6 percent from a year ago. The Eastside saw the median home price increase 11 percent to $618,000. The median price in Seattle was up 6 percent to $479,000.
  • Appreciation in King County varied significantly by area. Check out the interactive chart to see home price appreciation in your neighborhood.

Read more about King County’s population boom

If you’d like information on your specific neighborhood, give me a call and I’ll be happy to send you a report.

EASTSIDE EQUESTRIAN LIFE

The ins and outs of riding arenas

Many clients and friends have asked me how to go about installing a riding arena on acreage. I have one piece of advice. Get a qualified professional! I learned the hard way years ago, that when it comes to building an all-weather, four-season riding arena there is no room for amateurs. Your horse has at least 1,000 pounds of mass (or closer to 2,000 pounds if you are one of my horses!) and they are constantly balancing on the edges of these four tiny feet. Then balancing atop their back sits you. Do you really want to cut corners on the area that makes the biggest impact on your horse’s soundness and your safety?

I met Rick Triplett of Arena Rehab Specialists years ago after my own failed arena installation. I had only boarded my horses prior to this, so I had no experience with installing arenas or footing. I misjudged the qualifications of a part-time arena builder, and was left with hundreds of yards of demolition grade “hogsfuel” sitting in the middle of my property. I could literally see the nails and pieces of metal sticking out of this stuff. It was heartbreaking. I called Rick, who was referred to me by a long-time friend and equestrian center owner. Rick “arranged” the cleanup of the dangerous mess, and then installed a gorgeous, safe, well-draining, sand arena with polymer and felt additive mixed in. I can ride all year long. Rain or shine. My horses and I love it. If I had called Rick first I would have saved myself a ton of heartache and expense.

Rick has installed arena footings for Bridle Trails State Park, The Seattle Police Department Mounted Patrol and countless private equestrian homes and multi-discipline training facilities all over Western Washington. However, Rick’s not just an arena specialist; he and his wife Kate are also lifetime horsemen (and women) and are breeders of champion Irish Sport Horses. I knew Rick would understand what I needed because he understands what the horses need. If you’d like to see more of Rick’s work and learn more about him, go to www.arena-rehab.com or the Facebook page for Arena Rehab Specialists. There is also a link on my website.

Happy riding!