Monday NW Seattle Real Estate Market Update | August 24th, 2020
Happy Monday! NW Seattle continues to be a hot Seller’s Market. Attractive interest rates also make it a really good time to Buy! As always, we keep you up to date on the current interest rates, keybox openings and the real estate numbers in the NW Seattle area.
🏡To find out what your home is worth in today’s market: Visit http://bit.ly/38qh6z1
Hey, so welcome to week 24 of our Monday market update. And the Seattle market, the greater Puget Sound market just remains a super hot seller’s market. And a lot of it is fueled by the amazing interest rates. So, as of last Friday, according to Katie McGovern from Wells Fargo: Conforming rates: 2.875%.
Jumbo was still at 3.125% But veterans, if you know of any veterans, I don’t think I’ve ever seen a rate this low.
VA Loans: 2.25 for a VA 30 year, fixed-rate.
That’s crazy low and you should all be out buying. That’s all I have to say. Get out there and buy. It’s getting close to no interest. Oh my goodness! Yes, and then of course keybox showings have been up for the last two weeks. They’ve been averaging right around 58,000 keybox openings. And to put that in perspective, back in the first part of May, we were in kind of the mid 40s like 44, 45 keybox openings. So, we’ve been saying in the past that our spring market has moved to summer. And I think with those keybox openings that’s just showing that.
Last week in northwest Seattle, there were
194 homes for sale.
There were 55 new listings and 69% of those were vacant.
52 homes went pending and they have an average days on market of 11 days.
16 homes went pending inspection with an average market days of 14.
47 homes closed in northwest Seattle last week with an average market time of only 12 days.
And the average price per square foot was $496 compared to the previous week of $509.
But we don’t look at that terribly closely, because it fluctuates up and down each week. Yeah, I mean it’s basically been in this range from about the high fours, 484 to 510. That’s where it’s been averaging.
And yes, so if you are curious what your home might be worth right now in this super hot sellers market, definitely get in touch with us. Steve and I are easy peasy to work with. No obligation, if you’re just curious, not a problem. Just click below. Thanks so much everyone. Have a great week.
We understand that it is a confusing time right now. Each Monday, we will be sending out an update based on our experience over the past week to give you the NW Seattle Real Estate Market’s “Temperature”. We want to make sure that you are as informed as we are. Please don’t hesitate to give us a call or shoot us an email if at any point you have additional questions or questions that relate to your specific situation. We are always happy to help.
Steve 📲 (c) 206-769-9577 📧stevehill@windermere.com
Sandra 📲 (c) 206-271-7100 📧sbrenner@windermere.com
