Monday ​NW Seattle Real Estate Market Update | November 9th, 2020

Monday ​NW Seattle Real Estate Market Update | November 9th, 2020

This week we discuss how the election impacted the market over the past week. If you can believe it, Interest Rates dropped even lower! As always, we go over the Northwest Seattle housing numbers and we finally get the data for Keybox openings.

We’re just 10 days away from our 🏡 Virtual Home Selling Seminar over Zoom.

Join us! Thursday, November 18th @5:30PM Visit to register!

We hope you have a great week!

-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.

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 📧

Sandra 📲 (c) 206-271-7100 📧🔗

Hey everybody. Welcome to week 35 of our Monday Market Update! interest rates dropped again last week.

30-year conforming was down to 2.625.

Jumbo down a little bit down to 2.85.

And VA 30-year and 15-year conforming still hanging out at 2.25.

You know, we’ve talked about the election effect in the real estate market and definitely things were slower last week, which we were all expecting. So no reason to panic. But Steve what are our Northwest Seattle real estate numbers?

So stats for Northwest Seattle last week,

215 homes for sale down a little bit, not significantly but lower than what we’ve seen in the recent past.

New listings, 39 new listings with 74% of them vacant.

Pending homes, homes that went pending 25 with an average days of market of 13 days.

Homes went pending inspection, 18 with an average market time of 25 days.

Closed homes, homes that sold, 36 homes sold last week in Northwest Seattle with an average market time of 19 days.

Average price per square foot was about $479, that’s about where it’s been hovering lately. So those are the stats Sandra.

Yeah. So the price per square foot did a tick up just a little bit. But also what’s interesting is so finally the keybox stats are updated in the MLS. They hadn’t been updated in like weeks. And so finally there was like a big drop of data. So what was interesting is system-wide keybox openings have been down for the last six weeks. And I think we’ve been seeing that, I mean, we have talked about that. You know, it feels like the market has kind of slowed down a little bit since after labor day but so now I actually have concrete data stating that. And then what was interesting too, is for the week ending November 1st so right before the election, keybox openings were down like 7.6%. So again, that was definitely to be expected. And then what was also interesting to see is that homes coming on the market in October had been you know, just kind of slowly dropping week by week just fewer and fewer listings. But homes going under contract had remained pretty steady up until again that week ending November 1st. So again, probably just the effect of the election.

Also reminder people, we have our virtual home selling seminar coming up on Thursday, November 19th, starting at 5:30 PM. This is a super fun, very informative, totally interactive event. So this is a great opportunity to learn about the home selling process, get all of your questions answered. And Steve who will be attending with us?

Who will be there? Our favorite inspector Brandel Gehr from V.I. Inspections and our favorite lender, Dietrich Miklautsch from Guild Mortgage, who happens to be the lender refinancing my house. They do a great job.

He did mine in may, June, I don’t know when it was. So have a great week everybody. And yeah, if you’re interested in our home selling seminar just click the information, get in contact with us and we’ll see you next week.

Take care everybody.

Monday ​NW Seattle Real Estate Market Update | November 9th, 2020
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