Monday NW Seattle Real Estate Market Update | August 10th, 2020
Seattle’s Real Estate Market is still hot hot hot! This is especially good for Sellers, but Buyers also have an advantage right now due to the historically low interest rates.
In fact affordability hasn’t been this high since 2016!
As always, we keep you up to date on the current interest rates as well as 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
Welcome to Week 22, and the market continues to just be phenomenal for sellers. And it’s great for buyers too, because right now this is one of the highest affordability that we’ve had since 2016, and home prices have been steadily going up for the last 97 months, but because interest rates have been steadily going down, the affordability index is pretty good for buyers, and interest rates right now are 3% for a 30 year conforming, 2.5% for a 15 year conforming, and 3.125 for jumbo.
The NW Seattle Real Estate Market is hot, hot, hot. So in Northwest Seattle last week, there were
201 homes for sale.
There were 72 new listings, and 72% of those listings were vacant.
Pending homes. 52 homes went pending and their average days on market were 13 days.
Homes that went pending inspection, 15 homes. And those had an average market time of 38 days.
Closed sales, 55 homes closed in Northwest Seattle with an average market time of 20 days.
Average price per square foot was $493, which isn’t really that much different from the previous week.
It’s interesting though, the number of vacant homes actually jumped up quite a bit, ’cause I think last week or the previous week, it was 60% and now it’s 72%. And you know, my theory, which is why we started tracking this, my theory was that as our infection rates went up, that vacant homes should go up.
If you are curious what it would be like to be on the market right now, and sell your home, and find out what your home was worth, definitely reach out to us. Never an obligation. Steve and I are pretty easy peasy. No high pressure here at all. We just love what we do.
When you love what you do, people love you.
Have a safe and happy week out there, and enjoy our beautiful weather.
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🔗 Brennerhill.com
