Monday NW Seattle Real Estate Market Update | November 30th, 2020
This is our last update of November! Time sure is passing. We hope you all had a nice Thanksgiving last week. Due to the holiday, housing numbers were slower, as was to be expected. Interest Rates didn’t change at all last week.
As we enter the winter months, some people decide to wait to sell their home. However, there are advantages of selling in the winter. Last year we made this video about the benefits of selling your home in the winter months. You can watch that here: https://youtu.be/ELphcm_T_As
We also remind you of our handy Seller Toolkit Page that we put together as a resource for anyone who is looking to sell their home and wants to learn all about the process!
You will be able to use this resource for all of the following:
✔️Download Seller’s Guide & Title & Escrow Resource Guide
✔️Watch Informational Home Selling videos
✔️Download our Seller’s Homework Document
✔️Learn about Brenner|Hill’s Ultimate Home Selling System
✔️Request a FREE Market Analysis of your home
Cheers! -Steve & Sandra
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.
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 📧stevehill@windermere.com
Sandra 📲 (c) 206-271-7100 📧sbrenner@windermere.com🔗 Brennerhill.com
Welcome to week 38 of our Monday Market Update, and interest rates remain unchanged from last week. I think we’re all aware that the stock market is doing really well with the good news on the vaccines. It’ll be interesting to see what happens with interest rates. So typically what happens is as money moves into the stock market and moves out of the bond market, which tends to make interest rates rise, however, Fed Chair Powell has indicated several months ago that he expected the interest rates to remain low into 2021, so let’s hope that that happens, because that is definitely helping our economy get back to some sort of normal. I didn’t even really know what to say on that.
Life’s not normal, Sandra.
It’s not normal. No, it’s not normal, but you know, again, with the vaccines out there, it’s like finally there’s some light at the end of the tunnel, so we all just need to hang in there and do what we can. So this is the last update for November, and so, Steve, what happened? Obviously, it was a slow week, because of Thanksgiving.
It was a slow week. There are currently
156 homes for sale in Northwest Seattle. In new homes last week, there were
16 new homes with 81% of them being vacant, and only
half of them had a review date. I think last week it was 53%, so we’re seeing the review dates drop each week. And then pending sales.
25 homes went pending with an average on market time of 16 days. Homes that went pending inspection were 13 with 32 days average market time. And closed sales.
38 homes closed and they had an average market time of 20 days. And then the
average price per square foot‘s, you know, still hovering around what it has been at $496 a square foot.
Which is pretty good. Yeah, the last couple of weeks, it’s been up there. We had a couple where it had gone down to like $470 something. Yeah, so if you are thinking about selling in the future, and you want to get a little education, definitely check out our Brenner Hill Seller Toolkit page. There is a ton of information there. There’s informational videos. there’s information on our Brenner Hill Certified Listing Program, which is pretty cool. And then of course, there is a link to find out what your home is worth, so everything right there on this awesome page, so just click below and as always, if you have any questions regarding real estate or just anything, definitely reach out to us. Well, I have an opinion on everything, so.
I hadn’t noticed.
Have an awesome first week of December, all!
Make it a great week, everybody!
