Monday NW Seattle Real Estate Market Update | November 16th, 2020
Starting this week we are adding a new stat to the list: Offer Review Dates. We thought it would be interesting to see how many of the listings on the market have offer review dates. Back in July, it felt like almost everyone was doing it.
As always we cover the rest of the housing numbers in NW Seattle from last week.
We’re just 3 days away from our Virtual Home Selling Seminar over Zoom.
Join us! Thursday, November 18th @5:30PM
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We hope you 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 are getting real time updates from our Lender each week as well. 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.
Cheers! – Steve & Sandra
𝐴𝑛𝑑 𝑎𝑠 𝑎𝑙𝑤𝑎𝑦𝑠, 𝑖𝑓 𝑦𝑜𝑢 ℎ𝑎𝑣𝑒 𝑎𝑛𝑦 𝑎𝑑𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒 𝘰𝘳 𝘥𝘰𝘸𝘯𝘴𝘪𝘻𝘪𝘯𝘨 𝑞𝑢𝑒𝑠𝑡𝑖𝑜𝑛𝑠, 𝑓𝑒𝑒𝑙 𝑓𝑟𝑒𝑒 𝑡𝑜 𝑐𝑎𝑙𝑙/𝑡𝑒𝑥𝑡 𝑢𝑠 𝑎𝑛𝑦 𝑡𝑖𝑚𝑒! 𝑊𝑒’𝑟𝑒 𝑎𝑙𝑤𝑎𝑦𝑠 ℎ𝑒𝑟𝑒 𝑡𝑜 ℎ𝑒𝑙𝑝!
Steve 📲 (c) 206-769-9577 📧email@example.com
Sandra 📲 (c) 206-271-7100 📧firstname.lastname@example.org
Hey everybody, welcome to week 36 of our Monday market update. And of course the market is just humming along in Northwest Seattle. Rates continue to be great. They did a tick up just a tiny little bit last week.
So we’re back to 2.75% for conforming,
3% for Jumbo and then
VA and a 15 year conforming have been really steady at 2.25%.
It’s been at that rate for a number of weeks now, which is pretty awesome.
And you know, so one thing I just started tracking this week, so moving forward, we’ll have this stat. So we’ve noticed over the last several weeks that fewer and fewer homes coming on the market have a review date. And so what we mean by that is, the home will come on Friday and then we’re waiting to look at offers, say the following Wednesday, that’s a review date. When we expect to look at all offers on one day and before I would say probably at least 90%, 95% of new listings back in July and August.
Yeah, all had review dates. And so I’ve been noticing more and more are not. So we just started tracking it this week. So last week of all of the new listings, 63% had review dates, which it’s definitely come down. And again, I’m not positive that it was 90%, but it just feels like 90%. But so Steve, do you want to tell us what, what has been happening in Northwest Seattle?
I can tell you that our three listings we brought on last week all had review dates. So we are very optimistic, right?
We were part of that 63%.
Yeah, we are. Hey, so everybody Northwest Seattle stats.
Total homes for sale, 196.
New listings, 46, 85% of those homes that came on were vacant.
63% had a review date,
Pending sales, 41 homes went pending, 19 days average on market.
Pending inspection, 26 homes went pending inspection with an average market time at 27 days.
Closed homes, homes sold 44 homes sold last week in Northwest Seattle with an average market time of 11 days.
And the average price per square foot was $486 per square foot. So that is kind of humming along at where it’s been.
Yeah, we actually had quite a few homes go under contract last week. And then two, you know, inventory levels are coming down because you know, there’s not as many new homes coming on the market, so that’s really great for sellers, right? You have less competition. Anything else we needed to chat about Steve?
I don’t think so. We will talk to you guys all next week and have more stats for you.
Have a great week.