February 2017 Builder’s Bulletin: Low Inventory Driving Home Prices Up

By MBAKS Senior Policy Analyst Allison Butcher

Low Inventory Driving Home Prices Up

The latest Builder's Bulletin for February 2017 shows a continued decline in the inventory of homes for sale in King and Snohomish counties and prices still on the rise. According to the Northwest Multiple Listing Service, in December 2016, both counties had less than a months' supply of inventory, far below the four to six month level considered by many industry analysts as an indicator of a healthy market. Meanwhile, the December median home price for single-family homes and condos was up 12.2 percent year-over-year in King County and 12.4 percent in Snohomish County.

The Builders' Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

2020 Winners Announced for the REX/T-REX (Remodeling Excellence and Trades Remodeling Excellence) Awards

The virtual celebration highlighted the best remodelers in the Puget Sound region.

BELLEVUE, Wash.—August 17, 2020—The Master Builders Association of King and Snohomish Counties (MBAKS) hosted their Remodeling/Trades Remodeling Excellence (REX/T-REX) Awards virtually this year, due to the COVID-19 pandemic.

The REX/T-REX Awards are presented by the Remodelers Council of MBAKS, the oldest Remodelers Council in the nation. Local remodelers and builders submitted their best projects of the year. They watched the ceremony at small viewing parties in compliance with Washington state’s Phase 2 guidelines and accepted their awards over camera.

REX/T-REX entries were judged on the following categories:

Aesthetics—How is the remodel visually appealing?
Special or unique design solutions—How was the space planned and was livability considered?
Quality workmanship—What are the special features of the project and is there attention to detail?
Use of appropriate building material—Does the remodel complement existing structure and design?
Budgetary consideration—How did the project keep within the budget and still deliver client expectations?
Challenges and obstacles—Were there any unexpected obstacles that called for adjustments?

2020 REX/T-REX Winners

2020 Remodeling Excellence Winner, Bath Excellence, Less Than $35,000, Gaspar's Construction & Handyman, photo courtesy Laurie Black
Photo courtesy Laurie Black

Bath Excellence, Less Than $35,000

REX Winner: Gaspar's Construction & Handyman
T-REX Winners: Bellevue Plumbing and Excel Painting

Bath Excellence, $35,000 to $55,000

REX Winner: Armada Design & Build
T-REX Winners: B Brooke Interiors

2020 Remodeling Excellence Winner, Bath Excellence, $55,000 to $75,000, Nip Tuck Remodeling, photo courtesy John G. Wilbanks Photography
Photo courtesy John G. Wilbanks Photography

Bath Excellence, $55,000 to $75,000

REX Winner: Nip Tuck Remodeling
T-REX Winners: Ferguson and United Wholesale Supply

2020 Remodeling Excellence Winner, Bath Excellence, More Than $75,000, Sockeye Homes, photo courtesy Tod Sakai, Sockeye Homes
Photo courtesy Tod Sakai, Sockeye Homes

Bath Excellence, More Than $75,000

REX Winner: Sockeye Homes
T-REX Winners: Contract Furnishings Mart and Courtesy Glass

2020 Remodeling Excellence Winner, Kitchen Excellence, Less Than $70,000, Remod Builders, photo courtesy Spence Redford, Rendering Space
Photo courtesy Spence Redford, Rendering Space

Kitchen Excellence, Less Than $70,000

REX Winner: Remod Builders

2020 Remodeling Excellence Winner, Kitchen Excellence, $70,000 to $90,000, Gaspar’s Construction & Handyman, photo courtesy Laurie Black
Photo courtesy Laurie Black

Kitchen Excellence, $70,000 to $90,000

REX Winner: Gaspar’s Construction & Handyman
T-REX Winners: Excel Painting and Service Plumbing

2020 Remodeling Excellence Winner, Kitchen Excellence, $90,000 to $125,000, Sockeye Homes, photo courtesy Tod Sakai, Sockeye Homes
Photo courtesy Tod Sakai, Sockeye Homes

Kitchen Excellence, $90,000 to $125,000

REX Winner: Sockeye Homes
T-REX Winners: Global Granite

2020 Remodeling Excellence Winner, Kitchen Excellence, $125,000 to $150,000, Sockeye Homes, photo courtesy Tod Sakai, Sockeye Homes
Photo courtesy Tod Sakai, Sockeye Homes

Kitchen Excellence, $125,000 to $150,000

REX Winner | 1st Place: Sockeye Homes
T-REX Winners: Ferguson
REX Winner | 2nd Place: Neil Kelly

2020 Remodeling Excellence Winner, Kitchen Excellence, More Than $150,000, Gaspar’s Construction & Handyman, photo courtesy Laurie Black
Photo courtesy Laurie Black

Kitchen Excellence, More Than $150,000

REX Winner: Gaspar’s Construction & Handyman
T-REX Winners: Bellevue Plumbing

2020 Remodeling Excellence Winner, Residential Remodel Excellence—Addition, Less Than $200,000, Model Remodel, photo courtesy Cindy Apple Photography © 2020
Photo courtesy Cindy Apple Photography © 2020

Residential Remodel Excellence—Addition, Less Than $200,000

REX Winner: Model Remodel
T-REX Winners: Lake City Plumbing and Scrivanich Natural Stone

2020 Remodeling Excellence Winner, Residential Remodel Excellence—Addition, $200,000 to $325,000, Palmer Residential, photo courtesy Cindy Apple Photography © 2019
Photo courtesy Cindy Apple Photography © 2019

Residential Remodel Excellence—Addition, $200,000 to $325,000

REX Winner: Palmer Residential
T-REX Winners: Global Granite

2020 Remodeling Excellence Winner, Residential Remodel Excellence—Addition, More Than $325,000, Rainier Custom Homes, photo courtesy Dale Lang © NW Architectural Photography
Photo courtesy Dale Lang © NW Architectural Photography

Residential Remodel Excellence—Addition, More Than $325,000

REX Winner: Rainier Custom Homes

2020 Remodeling Excellence Winner, Residential Remodel Excellence—Major Remodel, Less Than $250,000, Sockeye Homes, photo courtesy Tod Sakai, Sockeye Homes
Photo courtesy Tod Sakai, Sockeye Homes

Residential Remodel Excellence—Major Remodel, Less Than $250,000

REX Winner: Sockeye Homes
T-REX Winners: Ferguson and Contract Furnishings Mart

Residential Remodel Excellence—Major Remodel, $250,000 to $350,000

REX Winner: Potter Construction
T-REX Winners: Ferguson and Dunn Lumber

2020 Remodeling Excellence Winner,Residential Remodel Excellence—Major Remodel, $350,000 to $500,000, Rainier Custom Homes, photo courtesy A Medley Photography
Photo courtesy A Medley Photography

Residential Remodel Excellence—Major Remodel, $350,000 to $500,000

REX Winner | 1st Place: Rainier Custom Homes
REX Winner | 2nd Place: Model Remodel

Residential Remodel Excellence—Major Remodel, More Than $500,000

REX Winner | Tie: CRD Design Build

2020 Remodeling Excellence Winner, Residential Remodel Excellence—Major Remodel, More Than $500,000, Crescent Builds, photo courtesy Rafael Soldi
Photo courtesy Rafael Soldi

Residential Remodel Excellence—Major Remodel, More Than $500,000

REX Winner | Tie: Crescent Builds

Residential Remodel Excellence—ADU & Basement

REX Winner: Harjo Construction

2020 Remodeling Excellence Winner, Aging in Place & Universal Design Excellence, Pathway Design & Construction, photo courtesy Strazzanti Photography
Photo courtesy Strazzanti Photography

Aging in Place & Universal Design Excellence

REX Winner: Pathway Design & Construction

Green Remodel Excellence

REX Winner: Model Remodel
T-REX Winners: Mohler Design

Exterior Remodel Excellence

REX Winner: Better Builders
T-REX Winners: AGS Stainless and Tekline Roofing

2020 Remodeling Excellence Winner, Landscape & Outdoor Living Excellence, Schulte Design Build, photo courtesy Levi Clark, Soundview Photography
Photo courtesy Levi Clark, Soundview Photography

Landscape & Outdoor Living Excellence

REX Winner: Schulte Design Build

2020 Remodeling Excellence Winner, Get Away Room & Specialty Space Excellence, Less Than $50,000, VanderBeken Remodel, photo courtesy Kelly Clare Photography
Photo courtesy Kelly Clare Photography

Get Away Room & Specialty Space Excellence, Less Than $50,000

REX Winner: VanderBeken Remodel

2020 Remodeling Excellence Winner, Get Away Room & Specialty Space Excellence, More Than $50,000, Nip Tuck Remodeling, photo courtesy John G. Wilbanks Photography
Photo courtesy John G. Wilbanks Photography

Get Away Room & Specialty Space Excellence, More Than $50,000

REX Winner: Nip Tuck Remodeling

2020 Remodeling Excellence Winner, Design Excellence, Interior Design, Remod Builders, photo courtesy Spence Redford, Rendering Space
Photo courtesy Spence Redford, Rendering Space

2020 Remodeling Excellence Winner, Best in Show, Rainier Custom Homes, photo courtesy Dale Lang © NW Architectural Photography
Photo courtesy Dale Lang © NW Architectural Photography

New Breakout Category: Best in Show

Recognition for the highest overall combined score awarded by the judges for a project submission.

Winner: Rainier Custom Homes for their Fall City Spa Experience addition

2020 Remodelers Council Remodeler of the Year, April Bettinger, Nip Tuck Remodeling

Remodelers Council Remodeler of the Year

Winner: April Bettinger, Nip Tuck Remodeling

About the Master Builders Association of King and Snohomish Counties

Founded in 1909 and headquartered in Bellevue, Washington, the Master Builders Association of King and Snohomish Counties (MBAKS) is the nation’s oldest and largest local homebuilders association. Like our founders, our members continue to take a leading role in all facets of homebuilding and support the planning for a growing region. From new technology to advances in sustainability, from collaborative public policy efforts to investing in our communities, our commitment to a thriving, inclusive and well-planned region never wavers. We are the professional homebuilders, architects, remodelers, tradespeople (carpenters, framers, roofers, plumbers, electricians), planners and engineers, suppliers, manufacturers, and sales and marketing professionals in your community who believe everyone deserves access to a healthy and productive place to call home.

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