Monday NW Seattle Real Estate Market Update | October 26th, 2020
As always we discuss the current interest rates and the NW Seattle area housing numbers.
Visit http://bit.ly/SeattleStatistics to see breakdowns of the NW Seattle Real Estate Market including, number of homes for sale, months of inventory and price per square foot.
Hey everybody. Welcome to week 33 of our Monday market update.
Interest rates have not changed. They are the exact same as they were last week, which is of course pretty amazing. 2.75% for 30 year conforming, 30 year jumbo 3%, 15 year conforming 2.25% and VA loans 2.25%.
Well, Sandra, let me tell you what’s happening. In Northwest Seattle, there were a total of 241 homes for sale.
There were 70 brand new listings and 70% of them were vacant.
Pending homes, 33 homes went pending with an average market time of 13 days,
homes that went pending inspection, 22 days on market with an average market time of 24 days, and then closed homes.
We had 51 homes that closed last week in Northwest Seattle with an average market time of 32 days.
And the price per square foot dropped a little bit. It’s down to $467 a square foot.
Yeah, I saw that. Yeah. And then, so last week home’s going under contract did not quite keep up with homes coming on the market. I think we were at about 78%. And so people, if you are a stats nerd, like I am, definitely click on the link below, go to our dynamic stats page. And on there we have Northwest, Seattle Metro, King County, Snohomish County. So all those four different regions. And then under each region we have three main graphs. Number of homes available so our inventory. Months of inventory, which that is basically an indication of how fast the market is moving. We only have a month of inventory. That means the market’s moving really fast. If you go back to like I don’t know, 2012, where we had six months of inventory, that’s a really slow moving market. And then also price per square foot, which is really interesting to watch. So it’s a super cool graph. You can just put your little mouse anywhere along it and see what the stat is. And that’s it. Have an awesome week. Hopefully everybody has voted by now. King County is on track for a record turnout so yeah.
Have a great week everybody. And we will see you next 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 📧firstname.lastname@example.org
Sandra 📲 (c) 206-271-7100 📧email@example.com